Mars
Daily Ramble
I’ve changed my mind. A decade or so ago, I thought humanity shouldn’t leave for Mars without cleaning up its mess on Earth. These days, I’m starting to think that leaving for Mars will get us to clean our room as a side effect.
The dream of leaving Earth to settle Mars just seemed like an excuse for humanity to bring its extinction-creating efforts to an already extinct planet. Such a colossal waste of energy and effort, I thought. I failed to consider how dysfunctional our society would become as the institutions guiding us would slide off the rails at an ever-accelerating rate. More important was not understanding that society’s institutional rails were the monetary system. The apex institution, the Federal Reserve, was knowingly shifting the rails underneath the rest of the unknowingly subservient institutions trying to keep our societal train on track. It’s been a perfect recipe for leaving the poorest part of the train flopped sideways underneath the desert’s scorching blaze while the wealthiest part of the train toasts the finest champagne in willful ignorance.
Humanity unifies when there’s a galvanizing force of either a collective enemy or aspirational hope. In the past, I’ve written about the collective enemy likely being China for the US. While profiting off the gains from Bitcoin’s price appreciation — as it becomes the reserve asset for the world — will pull the wind out of war's sails, it won’t unify humanity aspirationally. That’s where the Mars mission comes in. I have no idea if, consciously or unconsciously, Elon Musk is intentionally laying the pieces of the puzzle together. Still, his voice is increasingly likely to pen a 2020s version of JFK’s “We Choose to go to the Moon.”
From electric cars to solar panels, to uninterruptible satellite internet for the globe, to AI-linked humans, to Bitcoin, the foundation is being set for a borderless, decentralized, electrified economy that can channel the energy of the collective will of humanity into an aspiration pointed at the heavens. Exactly where every individual’s gaze is naturally drawn on a cloudless night, no matter the culture. Amazingly, the side effect of these puzzle pieces being put into play is a better planet Earth — fewer frivolously burned fossil fuels, economic creators linked directly to consumers, money separated from nation-states, and humanity driving AI instead of being driven by it. Humans choosing an aspirational mission, not being forced into it.
Perhaps I’ve let my head get stuck in the clouds today, but I like that future much better than the fearful future our mainstream media overlords like to dump into our earholes. You’d think we were all about to die if you listen to them more than a few minutes a day.
Favorite Thing on the Interwebs Today
Bitcoin Price Prediction
Weekend: $52k - $62k
Today: $55k - $62k
Tomorrow: $53k - $62k
The weekend saw a lot of sideways action with a slightly bearish bias. The price sold off Friday, reaching a low of $55.3k before being bought up to $58k, where it’s currently consolidating. It’s difficult to know if the bias is up or down at the moment, but typically, a bearish weekend leads to a bullish week. That paired with the market being mid-cycle on funding and sentiment and US stimulus making its way to exchanges makes it more likely that we break up to at least test $62k in the coming days. If not, I can’t rule out a retest to find more buyers in the $50k region. I’d prefer that, personally, to give more time for a consolidation period here, but my preference and what the market does are not the same thing.
Bitcoin Q & A
Q: The question“how does Bitcoin work?” is too broad, but how about describing who the actors are that make up the Bitcoin network?
A: The actors in the Bitcoin network are:
The blockchain (a data structure): the unchangeable ledger showing all historical transactions.
Miners: they secure transactions on the network.
Exchange owners: they provide central locations for Bitcoin to be exchanged for fiat currencies and vice versa.
Investors: also known as hodlers, these are the folks that purchase Bitcoin on an investment thesis.
Merchants: they allow goods and services to be purchased for Bitcoin.
Hardware Manufacturers: they provide the equipment for miners, nodes, and wallets to function.
Wallets: a user interfaces with the Bitcoin network.
Thanks for reading,
Kent
Have you got questions or a “Favorite Thing on the Interwebs”? Comment below or reply and drop me a line!
If you’re not on the email list, subscribe now — just this newsletter, no advertising.
Me? I offer personal and corporate Bitcoin Implementation Strategies: setup, investing strategy, security, tax management, and inheritance. Contact me for a free initial consult.