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Although the general sentiment of the Bitcoin community and Bitcoin Magazine It is a world full of hope and optimism, the real world is often not so simple.
One of our recent posts discussed the reality of addiction, and how that relates to the compulsive world and debt. I think this is an important topic that touches almost everyone. With drug and alcohol addiction rampant in the United States, almost everyone knows that a friend or family member has been affected. Addiction can also be found, in a way, in our critical monetary system and the debt cycle in which it multiplies.
OtterBTC, a former alcoholic and alcoholic, and I discussed these two topics in this podcast episode, so be sure to listen, check out his article and read our interview below.
What is the story of the rabbit hole in Bitcoin?
I was completely introduced to Bitcoin during bullish racing mania in late 2017. I bought a small coin and then watched the price drop in the 2018 bear market. At some point, I wanted to know more.
I started trying to find content in a space where I could learn. I remember listening to a podcast with Tim Ferris, Naval Ravikant and Nick Szabo and then another where Wences Casares was interviewed. I fell hard into the rabbit hole. I felt as if the veil was being lifted from my eyes. I was previously interested in gold and silver coins as valuable collectibles, but this was different. The implications of Bitcoin’s widespread adoption as a benefit to everyone on the planet has kept me fascinated ever since.
How has Bitcoin changed your life?
I am more optimistic and optimistic about the future today because of Bitcoin. Even in all the chaos around us, I still tend to see a glimmer in my eyes knowing that Bitcoin exists and there are supporters everywhere and more people are being enlightened at every moment. I’ve always intuitively thought that centralized control of anything of value – money, goods, services, or even humans themselves, has been the cause of much oppression in the world, but I haven’t delved deep enough to understand the mechanisms behind how that control is exercised. And it all starts with money.
My eyes are more open today. I take more responsibility for my reaction to life today and I totally prefer checking in before trusting what any person or organization presents as fact. Show me the incentives…
is yours modern piece On addiction, stock, debt, and bitcoin was really interesting. Can you discuss some of the similarities you see between these things and what prompted you to write this article?
As I explained in the article, our global economy is addicted to cheap mandatory debt in an unsustainable way. The consequences cause significant distortions in the markets with spillover effects across society. Much of the populous business operates with the aim of achieving the goals of time preference (short-term gratification). We are always afraid that the prices of things we want will go up, so we must get them now, so we take on debts to get such things.
Being in debt can be seen as another form of slavery. Being in debt can feel like you’re riding a hamster wheel inside a cage, staying active but not realizing that your main goal is only to serve the responsibility you were burdened with. This is an endeavor that sucks the soul and leads to the degradation of the individual.
I was once enslaved to drugs and alcohol. It’s a desperate and demoralizing place. A lot of the time I was just living to serve the addiction spell I was struggling with. I had a moment of grace and seized the opportunity to change my life, for which I will be forever grateful.
In writing the article, I wanted to share part of my story and give back and contribute a perspective to the community. Societal diseases affect us all. Misinformation about money and the negative effects of debt seems to be shrouded in ignorance similar to the way we as a society deal with drug/alcohol addiction and the stigma attached to it. I’d like to help shed light on both.
What are you most looking forward to in the bitcoin space?
I look forward to more widespread adoption and education. Millions of “Lamplight” moments. I want more people to feel their minds explode as they interact with bitcoin, send their first transactions, and watch their savings increase over time. I look forward to seeing people place more value on their time and thus spend that time with their families or doing what they love.
Price forecasts for the end of 2021 and the end of 2030?
I would say we see $100,000 before Jan 1, 2022. (I’m going bearish on purpose so I don’t have any choppy predictions, haha.) Easy Bitcoin price of $1.5 million by 2030.