Activity Lesson 5

“Tulipomania” occurred during the 1600s during the Golden Age of the Dutch Republic.
The durability of the blockchain cryptocurrency system should not be confused with the volatility of a highly prized but perishable commodity.

I have now gone through the whole course, which I found excellent. I learned a lot, and I now get a glimpse of why the algorithm developed by Satoshi Nakamoto (or the people behind that name) could make Bitcoin a true contender for a new financial order. This is pure genius. However, there is one negative aspect of Bitcoin which has not been mentioned in this course (maybe it will in later courses ?) is the increasing energy consumption for the mining of bitcoins, which has reached material proportions at a global level, and which does not bode well with the necessary efforts to reduce GHGs to save the planet. I am not very good at making memes, but for this negative aspect, one could put a picture of the current riots in Kazakhstan. Indeed, following China’s ban on bitcoin mining (which was using a lot of electricity and many tons of CO2 produced from coal-fired plants), many miners moved to unsuspecting Kazakhstan with cheap (subsidized) electricity, putting a lot of pressure on the national grid which could result in partial black-outs or increasing the price of electricity (reducing subsidies) for the general population. The government has just done that with LPG, and you can see the result on CNN (to be fair, there are other issues facing the Kazakh population than just the price of energy). If Bitcoin can move away from energy-intensive proof of work, then it will correct this negative aspect and be surfing on all of its positive ones.

https://cdn.guff.com/site_2/media/33000/32107/items/e2cc8aad3f59601112ee7cce.jpg

Bitcoin going up in value and supporters just want to glow up.

this is just Brillaint !!

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This is a perfect representation of the independent nature of bitcoin and it’s decentralization. Governments may wish to ban it but they can only provide a small block (laws, regulations, taxes) that any halfway intelligent person could easily sidestep.

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bringing back the concept of mining for a currency (or what once use to back our currency) is bringing real work back into the equation, and consequently, real value. This is how bitcoin is sustaining its perceived value. This, i think, is a great meme for the older generation to get a general idea of bitcoin and proof of work.

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mining bitcoins is better than buying bitcoins

"I’m in it for the technology"

  1. Store of Value - This dude clearly does not give a sh*t about the tech, he only cares about the wealth he has amassed.

  2. Neutrality - So you want money to be only in the hands of white anglosaxons or American Plutocrats? Think again.

Screen_Shot_2021-06-12_at_8.30.07_AM

This was my first impression of Bitcoin years ago when I knew nothing of it. Now knowing that it’s a store of value and likely going to be the store of value that future currencies will tie their value to is mind-boggling. I keep hearing junk on the web like, bitcoin needs to change for wider adoption, or “invest in this Altcoin. It’s a Bitcoin killer!” I know now it’s just noise coming from those who don’t understand its true potential.

As you can see here, The power of the dollar is getting weakend, because of the fed prining out money out of thin air (short said), while bitcoin is only getting stronger becuase of it’s growing difficulty to mine, with it’s limited supply of 21 million bitcoin.

bitcmeme
Store of value and neutrality with a pinch of privacy.

The fact that the btc supply cannot be increased/manipulated is one of its best, if not THE best feature.

With the way the current government is being run, it can not sustain growth and will collapse. The dollar will soon be worthless.

This memes says more than thousand words lol. Almost like reversed psychology.
in my country it’s at least 92% cashless anyway but in fiat money. I think blockchain and crypto is the future for us humans to set free from a sinking boat, or at least try to set free! :laughing:

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Meme of a meme coin (although Musk recently announced it would accept it at tesla)

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Just perfect.
It’s kind a sign pointing to the rabbit hole.

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Majority may not believe what they hear or see until they see everyone else involved. the soon fall of the USD will give allow people to see the true meaning of Money int form of BTC

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https://www.instamemer.com/best-bitcoin-memes/

“I demand to speak to Bitcoin’s manager”

This points to the fact that Bitcoin is decentralized, trustless, permissionless - there is no one central authority who controls it (for good or bad)

Find or create a meme that communicates an aspect of bitcoin (i.e… monetary properties, monetary policy, proof of work or neutrality). Post the meme/gif or a link and add a 1-2 sentence description of what aspect it communicates and why you think it’s effective.

Money Printer

This meme always stuck out to me. I’ve had to explain the meaning of it many times because people were excited by it. They knew the short-term impact, the government prints money and they receive a stimulus. The fact that Bitcoin has a predetermined inflation rate and the maximum supply is capped is something that actually made me realize how bad inflation is. On top of all the other properties like being transparent, decentralized, etc.

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