Matt Hornick and Tomar Sterlite’s short film “Bitcoin is Generational Wealth” premiered on November 1, 2021 to shed light on Bitcoin’s true value proposition. While many projects around the world today seek to enrich their founding members and provide a clear return in US dollars for those who join, the goal of the world’s most secure and powerful financial network is to advance humanity on the basis of fundamental rights to property and liberty.
People all over the world have reacted to the film. Bitcoiners, aware of the direct response to the central bank’s bailout in financial institutions a year before the goal for which Bitcoin was introduced into the world in 2009, became emotional seeing the future reality that the right money could be enabled.
“The film sparked a lot of emotion in the community, erupted with Twitter reactions and people shared that they were moved to tears,” said Daniel Prince, host of the “Once BITten” podcast. “Hope was the main emotion we shared in our home, the feeling of what we call ‘Normi Land’ in that place.”
Driven by the desire to change the world, Bitcoin missionaries are already promoting that optimistic reality; However, skeptics often fall for the misrepresentation instead and dismiss the new financial network for some of the features inherent in its initial monetization stage.
“Little is known about the gravity of Bitcoin and the problems it solves,” said Christian Carroll, managing director. Bitcoin Magazine, Comments After looking at the picture.
Robert Bradlaugh, “What’s Money?” The show, echoing Carols’ comments, commented that the film was “a harsh critique of the existing Fiat currency model and an optimistic look for a more harmonious future for humanity through the monetization of Bitcoin.”
In contrast, those who do not understand the bitcoin revolution, and thus do not hold any bitcoin, experience a mixture of wonder and confusion when the film proceeds to show what the 22nd century might look like if humanity accepts bitcoin as its meaning. A wide gap between the realities of the here and now and the future depicted led many to wonder how Bitcoin could bridge this gap.
“Bitcoin is Generational Wealth” depicts different eras of humanity, beginning with the effects of war and hunger in 1948, just a few years after the end of World War II, when a significant portion of human society suffered long conflicts and extensive damage. People had to rebuild everything from the beginning while warning future generations about what could happen to oppressors and the fall of individual rights. However, they had no way of protecting themselves from similar incidents in the future – they could only hope that such chaos would not recur.
Fast forward to 50 years from 2008, and society reorganized itself. Information flowed worldwide, and trading networks developed around entrepreneurship around almost every corner of the planet. However, the subprime mortgage crisis erupted, destroying businesses across the United States and leaving millions jobless. However, the Federal Reserve Board rescued the most prominent players, granting them bail with newly printed soft money through cheap loans. The principle of fairness was thrown out the window, and in the chaos, Bitcoin was born when the system became addicted to simple resources.
In the face of unequal treatment by the government and its monetary policy, Bitcoin has promised to establish an unbreakable financial system where users will not be discriminated against or discriminated against on the basis of their identity, status, power or assets. All participants are equal on the Bitcoin network, and anyone who participates can save or transfer money without permission. Compared to the then-37-year-old Petrodollar system, which firmly enforces dual values based on a political agenda and still does, the new system envisioned by Bitcoin challenged many established beliefs.
The film moves on to the year 2021, the year this article is being written, a time when Bitcoin’s price proposal has become even more relevant. Orders and orders enforced by the authorities suppress the freedom of many, leading to fear, hysteria and division. A war on property and money began and soft fiat currencies began to depreciate rapidly. Society is divided between those who believe in simple rewards and those who have fought for freedom and good deeds. The former proved to be very tempting, and the leaders enacted laws to print money and simply promised that things would get better if people complied.
Despite the obstacles, Bitcoin began to develop further as El Salvador became the first country in the world to legalize BTC. Opposition to Bitcoin will be manifested through the protection of assets, property and freedom.
Shift enables bitcoin to create society, and the point that nookins still don’t understand is related to motivation. The Fiat system is based on the premise that high-choice decisions are conducive to economic growth. The more people spend, the more the economy grows, and more money is made, and more money is needed in the now-more-productive economy.
Bitcoin challenges that status quo and reintroduces the values of hard work, honest work and the associated rewards. The similarity between the network’s Consensus Protocol, Proof-of-Work (PoW) is that participants are encouraged to behave honestly through economic incentives and game theory dynamics. Stand by honest work, pursue compensation, and benefit every participant. This dynamic is not valid with the current Fiat system because the closer the money is to the printer, the more they will benefit. Therefore, rewards are based on the status and position of each participant in the system rather than their proven work.
Furthermore, through the restoration of incentives, Bitcoin allows people to save and invest for the future – a position that contrasts with the “spending” mentality that reigns in the Fiat currency system. Bitcoin is the asset of the generation because it allows individuals, families, companies and governments to prioritize short-term and long-term thinking, assuring that their money will preserve their purchasing power and, more importantly, enable investment for many generations.
The priority of time is central because it is based on all the decisions of society – from choosing what you want to eat for breakfast to a more complex investment in a new home. With distorted incentives, society fluctuates without stability, looking for the most satisfying shopping right now instead of focusing on the long term. Many of the changes that enable these general changes are illustrated, including agriculture, food, entrepreneurship, education and basic needs such as water, bureaucracy and energy.
Instead of focusing on what a prosperous society can do now for instant gratification, it focuses on the small things it does now to bring a better future. Since most decisions in a society are based on financial transactions, money is concentrated to establish the right incentives and people act accordingly. By recovering good money and ending the addictive, simple money culture, Bitcoin enables humanity to achieve a second renaissance and move forward together to achieve hope, productivity, creativity and optimism.
“The world is creating wealth that is no longer measured by the amount of money, since the amount of money rarely changes. What has wealth become? It is now the sustainable, expanding, irregular productivity of all humanity that everyone enjoys. Measured in the quality of life of all mankind. Is done, “Sterlite described in the film.
Ultimately, it enables Bitcoin to recover appropriate incentives and free society from worries about surpassing inflation through paper investments.