Money Works


23 days ago by Rory

Possibly feeling perfectionist procrastination about publishing a Bitpost regarding the latest occurrings in Bitcoin society, a light bulb went off upon hearing the jingle of the Mexican ice cream man’s cart!

Pulling three crinkly dollar bills out of the change jar, I strolled out to find him down the road. A family was standing in their yard. It looked like he’d just finished selling them popsicles. I hollard to him from the corner, and suddenly, the lady standing in the yard with her family exclaimed she’d decided to go ahead and buy one too. He motioned he’d go sell one to me first and then come back to her. I noticed the brand name La Providencia as he pulled up. Ordering the pecan ice cream popsicle, I handed him the cash in hand and he was gone on back to the hesitant lady ready to buy.

We can all tell this Mexican ice cream man about bitcoin and convince him to download a wallet, one day in the future when we all take weekend space trips to dance parties orbiting the moon, but here and now, today, he takes three bucks in U.S. dollar bills. Fiat.

Some people scoff at the term. Though I heard on a podcast once that even those lil BCH dudes still use fiat based credit cards to back their broski bar-outs. Their marketing is so hardcore Bitcoin as Cash, but they do not live up to the slogan. None of us do.

It’s like in my favorite film Adventures in Babysitting when Elisabeth Shue’s best friend Brenda tries to buy a hot dog from a vendor at the downtown Chicago bus station by forwarding him a check. Brenda tells him how valid her check is by describing the process of prior transactions. The vender tells her, “I’m a cash only business, lady.” Brenda frets, “…but, I don’t have any cash!” To which the vendor irates, “Then I don’t have a weiner!” throwing the hot dog back onto his cart.

Local food vendors, bars and restaurants are an essential part of the economy. Maybe everyone in the world will have phones with 5G and beyond. Then we could all do small casual payments ‘IRL’ with Bitcoin. In the white paper, only small casual payments ‘on the internet’ is mentioned. Basically, gamer cosplay shipped direct to your door and porn are doable but hot dogs at bus stations or popsicles sold in the street aren’t on point. However, that doesn’t mean it can’t be. I think bitcoin is alive like an economy, so it’s up to the people in the market to make it what it is and let it realize dreams.

The Anypay guys were super fresh on the Brittany Bitz podcast last week saying they don’t care about onboarding new people to Bitcoin. The Anypay guys look at making the lives better of those already in the game. I loved what they were saying, and how stimulating their conversation with Brittany was, but, ultimately I kept wondering how they pay their rent.

When leaders in Bitcoin talk about hyperbitcoinization are they saying that wanting or using fiat is immoral or somehow works against realizing the big bitcoin dream machine?

Jack Liu, Daniel Krawicz, Steven Zeiler and Derrick Horton have on recent podcasts painted a picture of the mindset that brings about “hyperbitcoinization” a.k.a. Bitcoin living more up to its potential at scale for the world. I’ve heard them all pretty much call us all to be like Laura Ingalls Wilder’s family and neighbors during early America in her Little House on the Prairie series. Those novels are excellent and I thoroughly enjoyed reading several of them a few years ago to understand the thoughts of Laura during her experiences as a pioneer girl. Those freebird families made the local market economy themselves and settled a once uncharted territory of Minnesota, leading the way for pseudonymous global pop superstars Prince and Bob Dylan to take the scene.

When we in BSV saw the possible rift forming between BSV and out-of-left-field Novo with all the smack talk on Twitter about “this camp” “that camp” and “those people” things seemed a bit alarming. However, in an economy, like in a society, we are all free to be as we chose. We can work together or chose to work seperately. We can take different paths and all settle the territory each in our own way.

With amazing, dynamic bitcoin, we are unlimited in our options. When I first heard Jack and Dean and Josh Petty come out about Novo, I felt intruiged to learn more. Those are skillful pioneers I want to learn and participate with, but I disagree with what I’ve seen or heard some of them say about VCs, CBDCs and Enterprise utility. There could be pros and cons with each phenomenon but it’s not all con.

I’d heard T38 say in a scammers space a few days ago that we need to “maximize the synergy” by getting lots of major builders in the same room together. He mentioned Haste, Handcash, Jack Liu, Twetch and a few others that he’d love to see talking with each other openly in the same room about what they are building in Bitcoin. I agree with the concept, and also feel que sera sera. It’s best if every player in the market participates in open dialogue to maximize success of our territory thriving (bitcoin) but it’s not essential for everyone to be inclusive.

If someone has proven talented in the past but does not collaborate well with fellows in the market today then what do you do? Do you try to coax them to mature and join in the sandbox or do you just let them be off on their own whispering in a corner? It seems best for everyone willing to participate to focus on the people who are ready and willing to collaborate among fellows.

Dr. Wright emphasizes the word “society” not “community” and I’ve really hung on that word. It seems right to emphasize ‘society.’ In a society there are all types of people doing different things. We can let people go off and reinvent the wheel if they are relentless to do so. Perhaps they will surprise everyone by delivering something that actually turns out to be unique and useful to society. Or perhaps they will fizzle out, grumbling and give up.

There could be hyperbitcoinization leaders who take us to the next level day by day and year by year as well as VCs who nurture new upstarts further deepening the market. Governments and Enterprise may both enter the market for the sake of transparency, ‘kaizen’ and operational efficiencies to fully demonstrate the power of bitcoin at scale, so propping up the tx per second and keeping the system afloat a thousand years or more.

I’m glad to realize that I don’t know and am grateful to continuously learn from and with fellows here in Bitcoin society.