2020 was unforgettable, especially for Bitcoin. To commemorate our readers this year, we asked our network of contributors to reflect on the pricing, technology, community growth, and more of Bitcoin in 2020, and to think about what all of this could mean in 2021. These authors responded with a collection of thoughtful and thought-provoking articles. Click here to read all of the stories from our End of 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 cut its key interest rate to almost zero for the first time since the global financial crisis more than a decade ago.
With lockdown measures that resulted in job losses and the downturn in the economy, the government’s response to COVID-19 brought back memories of the 2008 crash. The Wall Street bank bailouts then resulted in a large transfer of wealth. This continues now, with the economic shutdown destroying mom and pop stores while companies like Walmart, Amazon, and Target make record-breaking profits.
Bitcoin, born in the ashes of economic collapse, was a response to the corruption of financial institutions. The whitepaper celebrated its 12th anniversary this year. As the old system began to loosen up, Bitcoin revealed its deeper value proposition.
The invention of Bitcoin enabled the separation of money and state for the first time in history. The Cypherpunks’ project to free electronic cash from a central authority quickly captured the hearts of hackers and anarchists. The recognition of Bitcoin as a new asset class that resembles non-confiscable digital gold, libertarians and venture capital also came into play.
Waves of early adopters of this technology have surfaced on the edge of the US empire. From Venezuelans and Iranians to WikiLeaks, the uncensored free speech money has become a safe haven for those looking to escape hyperinflation, sanctions and financial deadlocks.
This year, this decentralized digital currency has welcomed new faces. In response to the Federal Reserve’s inflationary policies, corporations and public corporations have begun adding bitcoins to their balance sheets to hedge against the US dollar. In September, MicroStrategy became one of the first and largest Nasdaq-listed companies to introduce Bitcoin, buying over $ 425 million in value. This has created a ripple effect in the retailer network and brought Squares Cash App and PayPal into the crypto space.
After the US presidential election, the price of Bitcoin surpassed its all-time high from the end of the 2017 bull run, with S&P Dow Jones Indices announcing the launch of cryptocurrency indices in 2021 and Massachusetts Mutual Life Insurance’s purchase of $ 100 million in Bitcoin Co.
The global reset
As the loss of confidence in the US economy accelerates de-dollarization, leading global institutions have stepped forward. In the middle of 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.
The WEF wants to work with the United Nations, economic sectors and civil society to lay the foundations of the economic system and create a new social contract for a world population with the Internet of Things and the use of advanced technologies.
In the announcement, Klaus Schwab, founder and CEO of the WEF, stated that the goal is to create a fairer and more sustainable future and to bring our lives in harmony with nature. The Executive Director of the International Monetary Fund (IMF), Kristalina Georgieva, who joined the initiative, articulated how the organization can help create “a greener, smarter and fairer world”.
In October Georgieva cemented the IMF’s role in the Great Reset and called for a new Bretton Woods moment; with reference to the agreement originally made in 1944 to centralize the global financial system with the US dollar as the reserve currency. The IMF boss called for international cooperation between the G20 and the restructuring of national debt. It is now preparing for the introduction of a central bank digital currency (CBDC) that can monitor and track transactions and associate them with 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 emerged. Concerned citizens around the world have criticized the Great Reset as an attempt to abolish personal property and property rights and undermine the sovereignty of nations and individuals. They see it as a dangerous step towards technocracy that creates a new digital empire with total surveillance and control.
The opponents of Great Reset go even further, calling it a war on human nature with the ultimate goal of creating a future without humanity. The Global Reset is supported by billionaires, the British royal family and politicians like the Canadian Prime Minister and Joe Biden. It is said to be an attempt to transform global nutrition, human nutrition, global hunger and disease, even to combat climate change.
The guiding principle of this initiative is transhumanism. Klaus Schwab, founder and CEO of the WEF, articulated in his book “The Fourth Industrial Revolution” that transhumanism is a process that radically changes our lifestyle and opens a new chapter in human development. He described it as a vision of “merging our physical, digital and biological identities”.
The global elites with their network of patronage of central banks around the world create money out of nowhere. With their fake money they pump up fake news and fuel the resource wars. Through the synthetic biology that takes genetic engineering to the next level, they are changing nature and making counterfeit foods. Using a machine learning algorithm, they are now trying to change human biology and make us all artificial.
Since the rise of AI and robots with the idea of merging humans and machines raises existential questions for humans, narratives of Bitcoin have entered the philosophical discussion. From freedom maximalist Robert Breedlove to Gigi, who writes words and codes for Bitcoin, a gospel for a new era of individual sovereignty is emerging.
Michael Saylor, Chief Executive of MicroStrategy, who joined the Bitcoin Club earlier this year, described money as energy and noted how “Bitcoin channels human ingenuity to do better”.
— RD ₿TC 💎🙌🏻💎 🙌🏻🟨 (@RD_btc) December 6, 2020
Long before the ecosystem became cosmic with memes bringing in new frequencies, the host of a popular financial report, Max Keizer, called Bitcoin’s mysterious creator Satoshi a “cyber-Christian.” This year, Keizer partnered with Stacy Herbert to elevate spiritual vibrations by releasing their new Orange Pill podcast.
Keizer, whom Saylor called “the high priest of Bitcoin,” noted, “God’s fingerprints are all over Bitcoin.” In response to this new metaphysical dimension that is now being added to Bitcoin’s pricing, one Bitcoin tweeted:
After a financial crisis with bailout of banks… and some coding cypherpunks …it started with a genisis block… then pizza was bought… Satoshi disappeared… Mt Gox got hacked… we became know as cyber hornets…and now god got involved!
How do I explain that to my wife?
— ☂️ BITCOIN 🚀 (@Cipherhoodlum) November 19, 2020
Based on the billion dollar hedge fund manager Paul Tudor Jones, who recently said: “A bet on Bitcoin is a bet on human ingenuity,” Keizer confirmed Bitcoin as humane action for people. Then he defined the next phase of the Bitcoin battle as “Human vs. AI”.
Call for evolution
The new battlefield that is being drawn concerns the evolution of mankind. Aaron McCollum described in his 2013 book “The Pandemic” that transhumanists aim to “synthetically develop the human race faster than organic evolution allows” and to create a “posthuman civilization, also known as Human 2.0”.
As the nation-state is dismantled and havoc is wreaking havoc in the election arena, humanity is locked into a technologically driven evolutionary path. The ruling power, with its reliance on centralization, seeks to keep all species in bondage. While the machine steadfastly takes over the living world, a new algorithm is created that contains the book of nature.
The innovation of computer science, which reconciles the human interests of all parties, has begun to secure the future of humanity. The crypto anarchist Erik Cason recognized that a new community with common goals was forming around this open source software, tweeted:
The more that I am involved in Bitcoin, the more that I am convinced it's really a global schelling point for all the crazy dreamer out of the box thinkers to converge on the most important social, political, and economic issues of our time.
— Erik Cason (@Erikcason) November 5, 2020
In response to the evolutionary impetus of the Protocol, people from all walks of life are coming together around the world. There are economists, gold bugs, computer programmers, mothers, rabbis, and entrepreneurs, all working to apply their own knowledge to solve problems.
At the end of 2020, Bitcoin, which has started disrupting the power of central banks and giving humanity the chance to free itself, is rising to an all-time high. With Bitcoin we can now remove ourselves from the human upgrade dictated by a few and determine a user-activated evolutionary path ourselves. We can all unite as humans and HODL our intrinsic values encoded in our own DNA.
Now the future is in the hands of the common people. A network consensus about the chosen values of each individual builds the building blocks for a new civilization and defines what it means to be human.
This is a guest post by Nozomi Hayase. The opinions expressed are solely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.