Bitcoin Improves Humanity’s Relationship With Energy and Money
• The article discusses the relationship between energy and money and how Bitcoin improves it.
• It explains how the U.S. government has been trying to centrally plan the energy sector since 1789 and how this has resulted in subsidies and tariffs.
• The article concludes that although Bitcoin improves humanity’s relationship with both energy and money, the problems that plague both energy and money are likely to survive a Bitcoin standard.
Money and energy are two of the most essential parts of any economy. Energy allows for the transformation of raw materials into final consumer goods and services, while money is used to store wealth, calculate revenue and losses, and trade for goods and services. In recent years, Bitcoin has drastically improved humanity’s relationship with both energy and money, however, the problems that have affected these two elements are likely to survive even under a Bitcoin standard.
Since 1789, the United States government has been attempting to centrally plan the energy sector. This has led to the imposition of tariffs and subsidies on different energy sources, such as the tariff imposed on the sale of British coal in 1789 to benefit the American coal industry. These taxes and subsidies are still in place today, demonstrating the power of government regulation over the energy sector.
Unfortunately, even with the introduction of Bitcoin, this power is unlikely to go away. Governments will continue to use their power to manipulate energy prices, subsidize certain energy sources, and impose taxes on others. Similarly, governments will also likely continue to use second-layer fiat money that citizens are forced to use. This means that the relationship between energy and money, and the problems associated with them, are likely to remain even with the introduction of a Bitcoin system.
Despite this, it is important to note that Bitcoin does drastically improve humanity’s relationship with both energy and money. Through the use of Bitcoin, individuals have more control over their own finances, as well as their own energy usage. This means that people are able to make more informed decisions about their energy consumption and spending, and ultimately, this could lead to a more efficient and sustainable economy.
Ultimately, while the problems that have plagued both energy and money are likely to remain even under a Bitcoin standard, Bitcoin still has the potential to drastically improve humanity’s relationship with both energy and money. By giving individuals more control over their own finances and energy consumption, Bitcoin could lead to a more efficient, sustainable, and equitable economy.