Covid and Bitcoin Fears
Published at : 07 Jan 2022
BTC and Covid. BTC is a technology that solves inflation and provides a stable global base for valuing goods and services. It however requires human to relinquish control of the money supply. These fears are slowing down mass adoption. But the adoption of many socially revolutionary technologies has been slowed down by similar fears of relinquishing control. While that basic fear slows down adoption, in the end the fear in many instances have not prevented the eventual dominance and adoption of the superior technology. Take planes, for example. Instinctual fear continues to plague some of us each time we get on one. However, we know that rationally the odds of dying or getting hurt are lower each time we relinquish control over our safety to this technology, which is already nearly 100% automatized, then if we drive ourselves over roads. At the moment, COVID is giving good reason for people to doubt the capabilities of human science and technology to keep us safe. Relinquishing control isn't the most appealing prospect for many. On the other contrary, many are reacting to Covid with a desire for greater government intervention, more control. And the desire to control can be limitless. As long as the thing is still out there, the solution to many always seem to be: "We are not exercising enough control. We need more control." However, there is reason to believe, in my opinion, that eventually we will get comfortable with relinquishing control in BTC. Covid will eventually prepare us for that. While the debate will continue for a while as to whether the "more control" approach did any good or caused more harm, eventually the debate will die out and Covid, whether around or not, will recede in people's imagination. That may well be prep work for an attitude of delegation of control to superior, self-executing, technology. Have a wonderful day. Comments welcome.