Bitcoin was the first crypto. We love it. But it’s time to see it for what it is. Outdated – and out of touch with its foundational principles.

Now – Bitcoin is a mainstream investment asset. And it shouldn’t be at the center of decentralized assets!

Bitcoin is leading the way for crypto adoption, but not in the way early Bitcoiners hoped. Instead of being a global decentralized currency – Bitcoin is the next get-rich-quick scheme for Wall St. et al.

The dreams of decentralization that drove early Bitcoin adopters and evangelists evaporated into pure greed. Crypto markets are a liquidity game that uses fiat currency – the very fiat currency that Bitcoin could have supplanted – as a way to measure value.

It’s time we get over Bitcoin – and look for ways to empower decentralization.

Meeting Mr. Mammon

We are not here to preach a gospel of poverty. The opposite – actually.

The idea that money impoverishes society is counterintuitive. But it’s real. To remind you – money has no value. It represents social resources that have value.

Don’t believe us?

Silly!

Take Argentina as an example. Poor Argentina. It should be one of the richest nations on the planet. But money made it poor.

The first time we landed in Buenos Aires a crisp $100 USD bill would buy you 330 ARS. Today, that same $100 will buy you around 120,000 ARS.

We aren’t that old!

From an academic perspective Argentina is hilarious – this isn’t the first time the ARS lost value like a dot-com garbage stock. Sadly – as we will touch on later – currencies and cryptos aren’t stocks.

No – from a boots on the ground perspective – the current Argentine hyperinflation is tragic. Most people in Argentina are forced into using the local monetary system – and it destroys lives.

Bad money is dangerous.

Let’s pretend you have to live and work in a nation like Argentina. You’re paid in the local currency. You have to save in the local currency. Using foreign currency is illegal. Buying gold is impossible.

You are stuck.

Sure, every year you have more zeros in the local currency.

Hell – you are a millionaire. Unfortunately – the prices on the street rise faster than the number of zeros in your bank account – so every year you get poorer.

If we used money that is limited in supply – we mean actually used it – it could curb the terrible situation described above. But we aren’t using Bitcoin – it isn’t money anymore.

The Liquidity Gate

Bitcoin always leads the crypto market. Now – it’s the beta barometer for market risk globally!

The issue becomes how cryptos develop from here. It’s clear that cryptos are the next hot financial asset. With this phase-shift – two problems emerge. Neither of them can be addressed easily.

First, cryptos aren’t going to be money anytime soon. Secondly, the established financial system now controls crypto market liquidity – as cryptos are no longer a stand-alone system.

No sane person ever thought that BTC would replace the established global financial system. It never was a threat to centralization at a tech level. But the idea of Bitcoin was an existential threat to centralized money.

With the shift from money to asset – the idea of decentralized freedom dies. Now, all cryptos are good for is making more fiat currency. The Bitcoin beta trap is serious – as it creates the illusion that cryptos are the most risky asset class in the world.

We think the opposite is true.

Rethinking Value

Going forward as a species – we need to rethink value at a system level.

Unfortunately, we are heading into a centrally planned global economy. As much as Trump and DOGE are doing to uproot the established deep state – Elon Musk looks like the first global technocratic overlord.

Please don’t misunderstand us – we have no personal beef with either Trump or Musk.

At some point the system we have would have created people like this no matter what. It doesn’t matter that it was Trump or Musk – or that it is happening in 2025.

Our present system puts a high value on the idea of wealth (money) – not productive capital. In the social media-mad digital world – the backend is hidden – and selfies with lambos and private jets are all that matter.

Here is a short video that can help you understand the difference:

If you need it in very simple terms – money isn’t wealth.

Wealth comes from social cooperation and shared values. Money, in other words, is worthless crap (literal $#!t has more value as a fertilizer).

It’s easy to demonstrate this idea in real terms. We all love Bitcoin, but it has value because people are willing to trade it for goods and services – and fiat currency. The same is true for gold.

Without a group that will monetize a digital token – it’s worthless. Same deal for gold. You can’t eat either of them, and neither will keep the rain off you.

A society creates value – the means of transaction and account does not.

The system we have creates media-hungry demagogues (Trump) and power mad technocrats (Musk) because that is what we value as a society. Don’t blame them – look in the mirror first…

Honest Money Solves Nothing – Especially if We Don’t USE IT

Bitcoin is an honest form of digital money. But it isn’t making much difference in the world.

Make no mistake – the first generation of cryptos will never be money. That ship sailed with the first Bitcoin ETF. Now – promising currency tokens like XRP and TRON will be assets – not money.

In fact – the high transaction speed / low cost networks will be used to transfer fiat-backed stablecoins.

We love the fact that fiat currency is considered stable. It’s laughable. People are so stupid.

Fiat currency is a money losing proposition for anyone dumb enough to hold it for the medium-term or longer. It sucks as a store of value. Legal tender laws enslave you in a monetary system – so you can’t demand honest money.

Not that honest money is a panacea – remember – countless human tragedies happened when we used the gold standard. But as Vietnam and Nixon slamming the gold redemption window shut demonstrated – endless war wasn’t possible – at least in South East Asia at the time.

Honest money was good for something!

Seeing Bitcoin Through Bitcoin

Bitcoin is only volatile to the upside against fiat currency.

Sure – day to day – cryptos move around a lot. On a longer time horizon, they only go up.

The reasons why Bitcoin made sense over a decade ago are stronger than ever. Governments will never pay off their debt. Global war changes theaters – but it never stops.

Now – the biggest economies in the world are spending like never before – both on a relative and absolute basis. The only way out is remonetization – just like in Argentina.

Unfortunately – Bitcoin became an asset. While it will likely survive the global currency reset – it isn’t going to be money anytime soon.

We need to work – and make a global society that understands the power that decentralization creates.