This post is written for my friends to show them why Bitcoin is here to stay and why they should get involved in the Bitcoin economy today, before the Zombie Apocalypse.
So you think that Bitcoin is here to stay?
Yes, I think the platform of Bitcoin makes total sense. We have the internet now ingrained into our daily lives orbiting around our social sphere with Facebook, following around in our our pockets with our smartphones, and enacting commerce online with internet shopping and banking… therefore a decentralised global currency platform, just like the decentralised global internet makes delicious, global 2014 sense.
Even if Bitcoin can take just a portion of the money moving around the world via Western Union, Monegram or Paypal – and it should due to its’ low fees – then my friends, it’s a temptingly delicious platform to use, and here to stay.
But of course Bitcoin could be much, much more than this.
Wait! You said the platform of Bitcoin makes sense, but what about Bitcoin the dosh, the cash, the mullah?
A the moment the value of Bitcoins fluctuates daily, which is not ideal for holding business operating cash in the current reality. However, companies like Bitpay make it a doddle to accept Bitcoins and swap them to local currency in an instant. Removing risk and aiding vastly the adoption of Bitcoin.
Of course there are other crypto/digital currencies, none with the transactional volume or support of Bitcoin. These currency experiments are totally natural. I guess some may survive.
Ultimately I’d like to think that other currencies using a Bitcoin-like structure could exist but will be issued by other capital producing vehicles, not governments, whether this is corporations, charities, social groups or even individuals; where the money in circulation represents the trust in the outcome or financial output of the structure.
But, we may get an event horizon before then that makes Bitcoin reign supreme in an instant.
An event horizon, have you got guns and ammo in your basement?
Yeah! I say:
All you need to ready yourself for the 2014 zombie apocalypse is a crossbow, some tins in the basement and now, Bitcoins.
Well, there maybe a Zombie apocalypse, if you class millions of unemployed, newly impoverished, distressed people the Western World over as “Zombies”.
There are a couple of points of no return on the horizon that could make these Zombies:
One: We get the real depression. Not this stagflation pretend-green-shoots recession-lite that we’re experiencing. No, I’m talking Greek style government bailouts in the rest of Europe, and the US, triggered by the inevitable interest rates hikes, oceans of debt and unrepayable and increasing government spending… But who can bailout the whole world? No one, and probably not China.
Citizens would go nuts, governments would freeze and raid their citizens savings, pensions and services. Currencies would crash, house prices collapse and all the overpriced assets implode. Bitcoin survives.
Two: Some calamity like a mega tsunami, a mini-ice age, a plague outbreak hits the world, overpopulation causes a resource war. These things statistically will happen, but when? Will one of the above happen within the next 10-100 years, who knows.
Big or relatively small, a calamitous tipping point would trigger a run on the banks and impact the over-leveraged economies to knock the first domino over. And there you have your zombies; the normal every day people trying to go about their daily life earning a living, but can’t so they roam the desolate economic cityscape without hope.
Dude, that’s all a bit dramatic?
Well there is another way… Bitcoin continues to get accepted by more and more merchants not wanting to pay high fees to banks, individuals, couples and families worldwide continue creating wallets and using Bitcoin to transact and transfer and to save money on the current banking fees.
Notice, I said about costing less and saving on fees, this is such a big factor for disruptive economic change. People want things to cost less. You can almost forget Bitcoins decentralised nature, the possible anonymity, the instantaeity – people like paying less for things.
But, you know when it will really happen when:
Google, Amazon or Apple say “today, we accept Bitcoin”.
It’s that simple.
When this happens, and it’s likely to happen out of the blue on a sunny midweek morning, perhaps whilst you’re drinking a latte reading about house price rises (again) in the Daily Express. It’ll happen sooner than you think. Bitcoin will be here. Accepted into real everyday life.
You had better be there, then, my friend.
Okies, but Cameron and Obama will just legislate against this to protect their own currencies, like they have started to in China, perhaps make it illegal to own a non-registered wallet, limit where Bitcoins can be used or even start some confiscation order?
Look, I’m not the expert on this, but you could argue that western civilisation is civilised for a reason, we can never go back to life before industrialised democratic capitalist societies, where Western leaders… Can we?
Dude of course it can. The government and banks would screw us in a flash!
Okay, so even if they do regulate, start to accept that today you can save money on transactions by using the Bitcoin economy.
Begin to trust that you can use this economic currency rather than your state-debt-backed-comedy-currency to do a few transaction and store some value, even if it’s just a small percentage of your savings or monthly cashflow.
If the “zombie apocalypse” happens you’ll thank me.
And whilst Bitcoin is still being adopted by more and more people, merchants and start-ups with their business models, its transactional use increases and it’s underlying asset value can only go up.
A bit like a multi-level marketing scheme or the fax machine?
Or a virus spreading through the world? Yes, it’s true. But that is how things happen, how things spread and how the world disrupts.
So my dear friend are you in? Will you buy or trade for some Bitcoins? And then try and use them in some of your transactions and engage with the Bitcoin economy?
You can do that today – and no doubt you’ll be buying me a beer at some point in the not too distant future.