HBO’s "Money Electric" as We Are All Satoshi
Bitcoin's Failed Vision: A Currency That Never Was and Never Will Be
Listen to the audio version here:
It's funny—I’ve blocked almost all of these toxic #Bitcoin maxis featured in the trailer for the HBO Original Documentary Money Electric: The Bitcoin Mystery. At (0:55), they claim Bitcoin “Might post a real threat to the dollar,” but the key part follows at (1:00)—“if it gained in popularity.” Lol
As Bitcoin approaches 16 years old on January 9, 2025, $BTC has FAILED as a currency, which was Satoshi's original vision. In my opinion, Samson Mow (Twitter: @excellion) is one of the most toxic Bitcoin maxis—laughable for spouting nonsense like “parallel systems” to global currencies. (1:16) Suggesting that Bitcoin could replace the U.S. dollar or even become the world's reserve currency is absurd. It's impossible for all countries to agree on adopting Bitcoin as a global reserve currency because each nation has its own economic interests, political sovereignty, and monetary policies. No government would willingly relinquish control over its national currency, as that would limit its ability to manage inflation, fiscal policy, and economic growth according to its unique needs. Moreover, the geopolitical landscape makes consensus on a single currency completely unrealistic.
Adam Back (Twitter: @adam3us) has been speculated by some Bitcoin maxis to be Satoshi Nakamoto. If that were true, you'd think he’d vanish from the public eye rather than stay active on Twitter while managing the stresses of running Blockstream (Twitter: @Blockstream).
And Roger Ver (Twitter: @rogerkver)? His commentary is laughable, especially when none of these guys even hold any $BTC anymore. Ver, once an early Bitcoin investor, is now like an 80-year-old retired general boasting about past victories, long after leaving the battlefield.
List of “Who Owns the Most Bitcoin in 2024?”: https://river.com/learn/who-owns-the-most-bitcoin/
Bitcoin is almost 16 years old, and we still can't use it to buy a cup of coffee—just look at how Trump’s stunt in New York to pay for a meal with Bitcoin flopped.
As for Nouriel Rubini (Twitter: @Nouriel), he's just an out-of-touch extremist chasing clout, eager for invites to global stages or his five minutes of fame in an HBO flick. You’d think, as the saying goes, that if he had new information, he would shift his stance, which would actually be a sign of intelligence.
For those of us who truly understand how the crypto ecosystem works after 15 years of building, let’s not kid ourselves. Bitcoin only got to this point thanks to Tether Stablecoin printing out of thin air (we’re still waiting for that audit after 10 years), nonstop pumping, and constant pivots away from its failed vision. ORIGINALLY DESIGNED AS A MEDIUM OF EXCHANGE (a decentralized peer-to-peer payment system), BITCOIN IS NOW BRANDED AS A STORE OF VALUE, DIGITAL GOLD, OR A RESERVE CURRENCY—MARKETING TERMS CREATED AND MARKETED BY HUMANS, NEVER USED BY SATOSHI NAKAMOTO, NOR WRITTEN IN THE BITCOIN PROTOCOL. WHO KNOWS WHAT THE NEXT PIVOT WILL BE?
Even this HBO hype about 'cracking' the true identity of Satoshi Nakamoto is just another fad.
Trailers often exaggerate to attract viewers, but let’s be real—if they had truly discovered who Satoshi is, we would have heard about it long before this trailer promoting the movie's release on October 8. The crypto ecosystem has one trait that continues to endure as we head toward its 16th year: constant hype, with everything feeling like one big “pump!”
SUMMARY:
While I believe Bitcoin has SOME value, that value is ultimately based on what someone is willing to pay for it. Its worth is driven by market sentiment, speculation, and supply and demand, rather than serving as a true currency or medium of exchange as Satoshi originally envisioned. The reality is, Satoshi's original protocol, BITCOIN, IS OUTDATED COMPARED TO MODERN CRYPTOCURRENCIES. IT CAN ***NEVER*** HAVE ANY UTILITIES AND HAS NO INTRINSIC VALUE BEYOND WHAT THE MARKET ASSIGNS TO IT.
Though Bitcoin has evolved into a "store of value" or "digital gold" thanks to human-made marketing terms and constant pumping by Bitcoin maxis, it has NOT succeeded as a global currency. The idea of it replacing the U.S. dollar or becoming the world's reserve currency is unrealistic, as countries prioritize their own economic and political sovereignty, making global consensus on a single currency highly unlikely.
Catch my analysis piece published on Tetherball’s Substack:
Wow! What a punch!! 😂
All I can say is, DAMN! LOL