Is there a second Bitcoin, yes or no?

What Satoshi Nakamoto did was break a common rule about money. Unlike what economic textbooks say, he showed that money can be created by anyone. He demonstrated that money is not a commodity but a ledger. By creating an immutable ledger, he proved that humans can have trustless trust among strangers without any central governing body.

 

Money has existed since the beginning of humankind. Many things, such as cowrie shells, cigarettes, and gold, were used as means of transactions. They were not created by any central government. Renowned economist Milton Friedman illustrated that the value of money is tied to the collective belief in its value and the system that supports it, using the example of the "Yap Stone Money" from Yap Island.

 

On Yap Island in the Pacific, massive stone discs known as "rai stones" were used as a form of currency. These stones, made of limestone, could be as large as several meters in diameter. They were too heavy to move easily, so when ownership of a stone changed, the community would acknowledge the change in ownership without physically moving the stone. The stones would remain in their original locations, and ownership would be transferred through oral tradition. Even a stone that sank to the bottom of the ocean during transportation was accepted if its existence was supported by eyewitnesses.

 

Money is not about its intrinsic value or government assurances but about trust. If what Satoshi Nakamoto demonstrated with Bitcoin is scientific, it should be replicable by others. So-called Bitcoin maximalists assert that the Bitcoin phenomenon is a one-and-only event, but I disagree. Bitcoin is scientific enough to be recreated, and it should be.

 

Indigenous peoples of the Pacific Northwest Coast of North America have a traditional ceremonial event called ‘potlatch’. During a potlatch, the host would give away valuable items such as blankets, canoes, food, and other resources. This redistribution of wealth served to strengthen social ties and alliances within the community.

 

Jews had a similar practice called the ‘Jubilee Year’. Every 50th year, land that had been sold was returned to its original owner, and slaves were set free. This practice aimed to prevent the concentration of wealth and the long-term oppression of individuals who had fallen into economic hardship.

 

As the power law distribution shows us, human communities tend to have a small elite that owns almost everything. They need a change agent every once in a while; otherwise, they become stagnant and start to decay until they implode.

 

Bitcoin has a potential to be that change agent. However, the unknown millions of bitcoins owned by Satoshi Nakamoto, millions of lost bitcoins, and Chinese domination of the early Bitcoin market still haunt the crypto market.

 

Many altcoin projects have approached the problems from a technological perspective, attempting to create faster and larger blockchains. Mobick, however, takes a different approach: it addresses these issues philosophically. The world is in dire need of a second Bitcoin that is distributed more evenly. It is erroneous for an individual, even Satoshi Nakamoto, to own 5% of the circulating supply.

 

BTCMobick distances itself from any Chinese influence. The US government appears to have decided to sever ties with China. To gain acceptance from the US and its allies, it's crucial not to be associated with the Xi regime or Chinese companies.

 

The second Bitcoin has already arrived.


#Mobick #Bitcoin #BTCMobick