2020 was unforgettable, especially for Bitcoin. To help rethink this year for our readers, we asked our network of contributors to think about Bitcoin’s price action, tech development, community growth, and more in 2020, as well as what all this could mean for 2021. These writers responded with a collection of thoughtful and thought-provoking articles. click here to read all the stories from our End Of Year 2020 series.
2020 has become the year of the pandemic. With face masks and quarantine becoming a new normal, the world has changed forever. In the escalation of the coronavirus outbreak, the US Federal Reserve reduced interest rates are close to zero for the first time since the global financial crisis more than a decade ago.
With lockdown measures causing job losses and the contraction of the economy, the government’s response to COVID-19 revived memories of the 2008 crash. Bailouts from Wall Street banks then caused a large transfer of wealth. This continues now, with the economy shutting down with mommy-and-pop stores being destroyed while companies such as Walmart, Amazon and Target are making record-breaking profits.
Born in the ashes of an economic collapse, Bitcoin was a response to the corruption of financial institutions. The white paper saw its 12th anniversary this year. As the old system began to unravel, Bitcoin further revealed its deeper value proposition.
The invention of Bitcoin enabled the separation of money and state for the first time in history. Cypherpunks’ project to create electronic money without a central authority quickly won the hearts of hackers and anarchists. Recognition of bitcoin as a new asset class similar to a non-confiscable digital gold, libertarians and venture capital also got on board.
Waves of early adopters of this technology have sprung up on the fringes of the American Empire. From Venezuelans and Iranians to WikiLeaks, the uncensored money of free speech became a safe haven for those wishing to escape hyperinflation, sanctions and financial blockages.
This year, this decentralized digital currency has welcomed new faces. In response to the Federal Reserve’s inflation policy, corporations and public companies have started adding bitcoin on their balance sheets to hedge against the US dollar. In September, MicroStrategy became one of the first and largest Nasdaq publicly traded companies to embrace bitcoin, with a purchase of more than $ 425 million. This has created a ripple effect in the merchant network, bring Square’s Cash app and PayPal in the crypto space.
In the aftermath of the US presidential election, bitcoin price surpassed its previous all-time high since the end of the 2017 bull run. With the announcement of S&P Dow Jones Indices of the launch of cryptocurrency indexes in 2021, and Massachusetts Mutual Life Insurance Co.’s purchase of $ 100 million in bitcoin, Bitcoin has continued to gain mainstream adoption, making it prosperous news headlines in mainstream media.
The global reset
As the loss of confidence in the US economy accelerates de-dollarization, leading global institutions have moved forward. Halfway through this year, the World Economic Forum (WEF) announced a plan to develop a “Great Reset” to emerge from the COVID-19 crisis as a better world.
WEF wants to work with the United Nations, business and civil society to lay the foundations of the economic system and establish a new social contract for a world population with the Internet of Things, and use of advanced technology.
In the announcement, Klaus Schwab, founder and executive chairman of WEF, said, stated that the goal is to create a fairer and more sustainable future, by bringing our lives in harmony with nature. Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), who joined the initiative, articulated how the organization can help create a ‘greener, smarter and fairer world’.
In October Georgieva reinforced the IMF’s role in the Great Reset, calling to a new Bretton Woods moment; referring to the arrangement originally made in 1944 to centralize the world’s financial system with the US dollar as the reserve currency. The head of the IMF pushed for international cooperation between the G20 to restructure the national debt. It is now preparing to roll out a central bank digital currency (CBDC) that has the ability to track and trace transactions, by linking them to personal IDs with a record stored in a huge database.
As international organizations seize the opportunity in the post-pandemic economy to reshape the world, resistance has arisen. Engaged citizens around the world have criticized the Great Reset as an attempt to do away with personal property and property rights and to undermine the sovereignty of nations and individuals. They see it as a dangerous step towards technocracy, creating a new digital empire with total surveillance and control.
Big Reset opponents go even further dial it is a war against human nature with the ultimate goal of creating a future without humanity. The Global Reset is backed by billionaires, the British Royal Family and politicians, including Canadian Prime Minister and Joe Biden. It has been said to be an attempt to transform the world food, the human diet, global hunger and disease, even to combat climate change.
The main idea behind this initiative is transhumanism. Klaus Schwab, Founder and Executive Chairman of WEF, articulated in his book “The Fourth Industrial Revolution” that transhumanism is a process that radically transforms our lifestyle and opens a new chapter in human development. He described it as a vision of a “fusion of our physical, digital and biological identities.”
The global elites with their patronage network of central banks around the world create money out of thin air. With their fake money they pump up fake news, fueling the resource wars. Through synthetic biology that takes genetic engineering to the next level, they change nature and create fake food. They work with a machine learning algorithm and are now trying to change human biology, making us all artificial.
While the rise of AI and robots with the idea of merging humans and machines raises existential questions for humans, the stories about Bitcoin have entered philosophical debate. Of freedom maximalist Robert Breedlove to Gigi, which writes words and code for Bitcoin, a gospel is being created for a new era of individual sovereignty.
Michael Saylor, CEO of MicroStrategy, which joined the Bitcoin club this year, described money in terms of energy and noted how “Bitcoin channels human ingenuity to make it better.”
Long before the ecosystem became cosmic memes Bringing in New Frequencies, the host of a popular financial report, Max Kaiser, called The mysterious creator of Bitcoin, Satoshi, a “cyber-Christ”. This year, Keizer, along with Stacy Herbert, raised spiritual vibrations by launching their new ones Orange Pill podcast.
Emperor, who Saylor called “The High Priest of Bitcoin” noted, “God’s fingerprints are everywhere in Bitcoin.” Responding to this new metaphysical dimension now being added to Bitcoin’s price discovery, a Bitcoiner tweeted:
Tapping into billionaire hedge fund manager Paul Tudor Jones recently said, “A bet on Bitcoin is a bet on human ingenuity,” Keizer recognized Bitcoin as pro-humanity working for people. He then defined the next phase of the Bitcoin battle as ‘human versus AI’.
Call for evolution
The new battlefield that is being drawn concerns the evolution of humanity. Aaron McCollum in his 2013 book ‘The Pandemic’ described that transhumanists strive to “make the human race evolve synthetically faster than organic evolution allows” and to create “posthuman civilization, also called Human 2.0.”
As the nation-state is being dismantled, causing chaos in the electoral arena, humanity is trapped in a technology-driven evolutionary path. The incumbent power, with its dependence on centralization, tries to keep all kinds in bondage. As the machine steadfastly takes over the living world, a new algorithm emerges that carries the Book of Nature.
The innovation of computer science that aligns the human interests of all participants has begun to secure the future for humanity. Recognizing that a new community with a shared purpose is being formed around this open-source software, crypto-anarchist Erik Cason tweeted:
In response to the momentum for evolution in the protocol, people around the world from all walks of life are coming together. There are economists, gold bugs, computer programmers, mothers, rabbis, and entrepreneurs, all of whom work to apply their own knowledge to solve problems.
At the end of the year 2020, bitcoin, which has begun to disrupt the power of central banks, giving humanity a chance to free itself, rises to a record high. With Bitcoin, we can now opt out of the upgrade of humanity dictated by a few and determine our own user-activated path of evolution. We can all unite as humans and our intrinsic values HODL, encoded in our own DNA.
Now the future is in the hands of ordinary people. A network consensus on the chosen values of each individual builds blocks for a new civilization and defines what it means to be human.
This is a guest post from Nozomi Hayase. The views expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.