Understand the dangers and risks and changes technology brings, but know it’s not creating new evil. It’s only revealing what we already are. Treating the symptoms won’t stop the disease.
Markets are incredible, wonderous things sending signals and incentives all across the globe and allocating resources always towards their highest valued use. Prices are the tool that reflect this and help us see and calculate. But the important word to hang onto in the above description is towards.
Bitcoin as it was invented and released to the public over a decade ago does a few things that have staggering potential. The ability to attach monetary value to the transfer of information, and do so at levels as small as a 1000th of a penny instantly and globally is incredibly massive. To do this with no trusted third party or single data repository is even more massive. This is all possible right now today with no need for any new inventions. Hardly anyone knows it.
A reader emailed me asking how I feel comfortable sharing political views that are widely unpopular. He also asked if I’ve written about this, and I don’t think I have, so here’s my response.
It’s easy for people with contrarian ideas and opinions to long for public validation. After years of being mocked and worn down, there’s a tendency to fantasize about one great moment where all your opponents are owned and utterly embarrassed.
I don’t have to have solid true/false answers to everything. Nor do I need to pretend such answers don’t exist. I can approach what I know directly with high probability and lower it with each step beyond experience.
Earlier this year, I was doing a deep dive into virology. Coincidentally, this was before Covid, in effort to solve my own health-related problems and mysteries. I had the same experience I’ve had when I went deeper into any field. A realization that nobody in the field knows what the hell is going on.
Whenever there’s a lot of hysteria around dangers to “public health” (a phrase invented to control people), you see escalating calls for more and more dehumanizing mandates. You have to stop at some point and ask, why are people destroying all the things that make life good? What do they hope to achieve?