The Impostors Way

What makes us so short term oriented?

Ideological Bitcoiners believe that giving individuals all around the world and no matter how rich or poor they are access to sound money is an important humanitarian goal.

We've learned that everything from sea shells over salt to silver coins were once money. Some of those "moneys" did their job better than others but all were products of their time and served their purpose. They were the tools at hand serving in the functions of  "being a medium of exchange", "storing value" and  "being a unit of account".

To get to this functionality the tool of money should have a few characteristics. Checking for these characteristics can be our checklist to compare moneys.

Money is a tool to measure things. It's a language tool to express value on a linear scale. Like the temperature. We have some people expressing the temperature in Celsius and some in Fahrenheit and some in Kelvin. Okay, different unit of measurements exist. We have to make sure we do not get lost in translation.

Learn about what storing value means. We take the example of a/your grandma selling a hectare of land in 1950 for 100,000 dollars. If your grandma would have kept the money under her pillow and passed on paper bills those would be worth 1000 times less today.

That's why knowing what money is is important. It can inform decisions in our lives. And one of the most important decisions is where we store our value.

Transcripts, sources and further reading can be found here: https://theimpostorsway.com/2021/09/26/13-store-of-value/

So what is money? What does money do for you? It's a great question to ask because we use money every day.

Lightning is for sure is the most real world application of Crypto right now on a large scale. Real world meaning in physical space, face-to-face. Of course people are transacting and moving hundreds of millions of dollars worth of value on Blockchain based systems every day but having a (small) country try to replace their payment system is something else.

So this is my non-investment advice. Don't be stupid just because other people are and some of those people made money being stupid.

Why do you get paid monthly? Why should you care? What can Bitcoin do about it?

Today is about streaming value. It is very closely connected to the understanding that money should flow where value is created. That we've established in the chapters about financial markets and how guitar playing musicians can get paid by the minute.

Open protocols can provide services like companies do and are built just like other products are. But they do not have a central decision maker. They don't have a CEO, a board of directors or similar structures. Until they do. But as you can imagine the cyberspace native version of a board of directors looks very different to the meat-space version.