What if we are looking at Bitcoin in the wrong way? What if Bitcoin doesn’t “ﬁx everything”? What if Bitcoin isn’t the solution, but the enabler to humanity solving bigger issues? In this article, I will explore how Bitcoin may not ﬁx everything, but could act as a Layer 1 across the whole of society, enabling us to “Level Up”, and focus on bigger issues.
Starting With Maslow and Our Current State of Affairs
Maslow’s Hierarchy of Needs is generally viewed as a very good framework/guide to allow people to create more fulﬁlling lives.
In summary, it states that lower-level needs (such as physiological needs and safety needs) need to be met, before higher-level needs can be addressed. Without access to food and shelter, we can’t (or shouldn’t) focus our attention to the top of the pyramid, to fulﬁll self-actualisation needs.
In most discussions I have with friends and family, I recognise that we are required to work harder and harder to maintain the same quality of life. As Jeff Booth has covered in his excellent book, ‘The Price of Tomorrow’, technology is deﬂationary, our quality of life should be increasing, our purchasing power should be increasing, and the number of hours we need to work should be decreasing. However, the current inﬂationary monetary system based on modern monetary theory doesn’t allow for this, because if deﬂation were to truly occur, it would collapse.
Welcome to the ponzi!
If that is the case, which I believe it is, as do many other sound money advocates, are we being forced to descend the Hierarchy of Needs, rather than being empowered and supported to ascend it?
From Maslow To Bitcoin
What if we are all trying to solve (on different scales) problems that are too far up the hierarchy, because we don’t have a foundational Trust Level in place, pushing water uphill essentially? How many of us feel in today’s age that we are working harder and harder, but falling further behind?
- How can we start to understand, let alone solve climate change, if the existing system requires us to grow at any cost? – Jeff Booth. We can’t.
- How can we focus on helping others, Love and Belonging Needs, when our time preference is required to be so high, that our immediate attention has to be on us and our immediate family? We can’t.
Figure 1. Bitcoin: The new base layer for humanity
How Bitcoin Can Help Us “Level Up”
Bitcoin can help us to “level up” and focus on bigger problems by providing a sound monetary system. A sound monetary system is one that is not subject to inﬂation or manipulation. This allows people to save their money with conﬁdence, knowing that their purchasing power will not be eroded over time, and that the rules of the game won’t be changed without their knowledge or consent.
When people have a sound monetary system, they are free to focus on ascending the Hierarchy of Needs, and focus on things such as building businesses, enjoying their hobbies, or raising families. They can focus on the things that are truly important to them, because it provides a foundational layer that is based on transparency and predictability. Once you remove the problem of having to focus on how you save your money, and you know that your energy (money) is stored safely across time and space, you can focus on the next level up.
I don’t see Bitcoin as something that will ﬁx everything. However, I strongly suggest that having a sound money base layer in place, which allows for trust, transparency, and predictability to exist, enables us to “Level Up”, and do what we do best as humans: to adapt, to survive, and most importantly, to thrive, empowering us to ascend the hierarchy of needs rather than being forced to descend it or remain stationary.
In my next articles, I will explore how Bitcoin is central to a lot of next level “problems” too.
Thank you for reading, and if you’d like to learn more about Bitcoin and its human-centric alignment, please check out BTC People on Youtube for some excellent interviews across some of these topics.