The dream
Bitcoin is just math and logic. Easily figurable. You can dig a hole in your backyard, throw your printed private key inside and bury it along with rum. The thought of your grandchildren opening it up and having orgies while picking the right lambo color, is what should satisfy you to do it right now and spend the motorcycle money for a bitcoin instead.
Meanwhile the whole world should be fighting for a bitcoin for decades. Why? Well, Internet began like yesterday. You couldn't even order a pizza online. And today everyone is using it and can't order a pizza without it.
Right now bitcoin is.. eh.. well I will say it - shit. Kind of useless in everyday life (general case), except burying it with a bottle of rum or making money, by speculating that it will be useful one day in the future. The rest of the crypto currencies and crypto assets, well they are even more useless - made by a bunch of teens who quit school.
Fanatic speculation
So lets speculate then.. if bitcoin is desired and used, across the globe, there are 7.5billion who will want some and there will be only ~29mil bitcoins.
This means that if we all have bitcoins and everyone is equally rich, each person on the planet will have 0.00386 bitcoins. Ok, but thats oversimplified. The world doesn't work like that and few rich people own 80% of all money. So lets recalculate - 7.5bil wanting 5.8mil bitcoins. That means, we the casual plebs, will be equal with 0.00077bitcoins (77,000 satoshi) per person. Now.. The majority of the people I know, spend everything they earn. So that would roughly mean, that the 77,000 satoshi will be their monthly salary. Which means that they will earn 55mil satoshi after working 60years. That is 0.55 bitcoins. Err, well I prefer buying myself out at that outrageous 8k price for 0.55bitoins, than working 60years for it. That is if all goes according to the bitcoin fanatics plan.
Inception
We all know, that money works, because of our beliefs. Some call it mass hallucination. And the hallucination about bitcoin is getting stronger. It also spawns its own children hallucinations. At first that were the alt coins, Litecoin, Dash, etc. Then second level mass hallucionation platforms came - like Ethereum, Lisk, Waves. Which allowed teens to create easily 3 level deep hallucination in the form of a white paper full of bravery, honor and self sacrifice. The 3rd level hallucinations often solve problems like global hunger, government corruption, etc. Sounds great, doesn't it. Thats why we tried even speculating with it, but well, it didn't turn out well.
Every level of hallucination spawns more 'money'. Lets go trough how it works. I make my own level 3 shitcoin and offer it in ICO. I give millions of my shitcoins to some random people who give me level 2 coins worth 50mil$. Now I have 50mil $ worth of level 2 coins and my clients have 50mil$ worth level 3 shitcoins. Wooha, its a win win! We all now have 100$mil worth of crypto!. Not really. If I try to pull out my 50mil$ in level 2, it would be relatively easy. If I sell them at once I will probably lower the 2lvl price and take 30mil$ out. If people from the 3rd level try to take their cash out, they will lower the price a lot quicker and take no more than 1mil$ out.
The talk
So.. thats the world of crypto. Its so easy to figure out that it got boring. But now a new inception comes into play.
~Futures. What? Weren't we speculating about the future already?
~No no, these are synthetic derivatives.
~Sweet! so has something to do with implants and cybernetics?
~ No, no.. See, if a farmer wants to sell his horse, he can do that, even 10months before chopping it into salami. He just has to sell a future on the marketplace. That way, he can be sure, that when the time for chopping comes, he has guaranteed price, the one he selected 10months ago.
~ Nice ! So this saves family farms and makes the world a better place. We should certainly get it into the Bitcoin ecosystem.
~ Yes. So someone who doesn't have all the cash for bitcoin today, can get a bitcoin future and after 30years he will have it for the today price!
~ Nice! So how much I need to do that?
~ About half bitcoin in USD
~ Why exactly that much?
~ Because when bitcoin prices goes down while you are betting on it to go up, the system needs backup. If the price halves, you loose all your cash and you have no bitcoins.. and no cash.
~ Err. But if I had bought a bitcoins for my cash, I would still have the bitcoins and they would probably bounce back up
~ Yea but thats not the case here.
~ So if nothing fucks up and it doesn't go down I will own one bitcoin
~ No you don't own bitcoin. See its more like betting on bitcoin. No bitcoins are involved in any trades. Its pure cash in and out.
~ So who keeps my bitcoin when I give my cash in this future?
~ Nobody, there are no bitcoins.
~ What! me and everyone else is throwing cash inside a pot, where we all bet on where bitcoin will go?
~ Yes, its perfectly regulated, so no worries. Its safer then bitcoin
~ How is it safer? I store my bitcoin in my pocket with quadruple authentication. You store my money in a honey pot, you didn't even buy bitcoins. We all know what happened with your perfect regulations 2008. You are bringing that shit to bitcoin?
~ Yes, because now institutions can buy these futures
~ You mean one day my pension will be all in bitcoin futures, which have nothing to do with bitcoin?
~ Well. They do some! They are based on Winklevoss twins website price.
~ Winklevoss? The rich daddy rowers who lost Facebook? Man thats nice! That must be the future! Sounds like a quadruple fuckup waiting to happen.
~ Well, between you and me. In this limited world, everyone can't be rich. There are two ways to get rich without working. ~ One way is to print new money, thats what 1st, 2nd and 3rd level cryptos did. The other way is to help others burn their money, by giving them financial instruments. Both ways, you own more. After all, there are not enough lambos for everyone.
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