The root of all evil
For my whole life, to the best of my knowledge, I can remember one persistent narrative:
“Because the love of money is the root of all evil, therefore egoism must be the seed.” – M.D. Birmingham (an allusion to the quote from 1 Timothy 6:10).
In the last ten years of my time among the living, I have learned how this belief is utterly misguided. Allow me to defend my reasoning on why.
The ultimate currency
In the grand scheme of things, money has played an enormously important role in the development and progress of history. From the use of seashells as “money” to the gold coins of Rome or the first fiat currency – the Jiaozi of the Song Dynasty in China – to today’s US dollar, money has played a central role for mankind.
What money did, what it did so What was revolutionary was that it allowed our species to give our physical form time and our energy.
Please take that time to take this thought into account.
The passage of time is one thing we can never get back. Once it has been spent, there are no more refunds. Time is the ultimate currencyto pass forever without being able to return to a previous moment: always passing, ever spent, ultimately and clearly finite.
Whether you go to work every day or have a hobby that you can use to capitalize on your efforts, you are monetizing yours time and your efforts invested in that job or hobby. That is exactly what a wage or salary is – the opportunity cost to you time. Every hour that you sacrifice a job, you make a decision that the time Your sacrifice is worth the money exchange you deserve in return.
Let me make that clear: a wage is a bargain that you find your time is worth the amount you are being compensated for. Whether that amount seems low or high is something you need to address as an individual. But usually individuals make what they deserve time is worth in accordance with several factors: ability / ability, specific knowledge, expertise, network connections, wisdom and so on. All of these qualifications correspond to an amount of time that was invested by the individual. timeis again the actual currency.
By giving ours time As an interchangeable vehicle in the form of money or purchasing power, we have enabled our species to exchange our own time for the time of another. Where you can spend hours of your day making a tool to use, say an ax, you can sell that ax to someone else for money, where you then go and use that money to buy bread – whatever hassle would have required your part to produce itself (not to mention the time and energy required to learn, fail, and refine the process to produce the good).
Love of money
So I propose a … philosophical, maybe even spiritual question:
When money is “the root of all evil” but money is simply a representation of ours timewhat does that make of us and our use of time?
Money is not the root of all evil. Money is a tool like an ax. A tool is purely neutral; it has no philosophical or moral fidelity.
So if money is neutral, the root of evil must be elsewhere, not in the vehicle we use to physically achieve our desires.
To estimate money is to estimate time or rather the appreciation of efficient time Expenditure. Saving money means parking your expenses time for a major purchase at a later date or to allocate funds in the event of unforeseen expenses or emergencies. While investing money means sacrificing the instant gratification of a purchase and taking the risk of providing money to another person / group for them to use your money (ergo, time) Execute their plans or business deals to get a higher return on your initial investment in the future.
Money is not evil. Money is time. What matters is how we spend it.
Whether you want to spend yours time, save or invest … a variable is necessary.
You need to trust that your time is in good hands, ergo, the money you choose to measure yours time in must be free from the risk of devaluation, confiscation, censorship or fraud prevention.
Otherwise a large part of your treasure time must be sacrificed to protect your money – your precious wealth time. Those who prefer not to spend that timewho spend funds to compensate others for strategies and vehicles that protect their purchasing power from the forces of inflation and / or devaluation.
Enter Bitcoin, stage on the left.
Bitcoin is a force of human ingenuity and protects the hodlers. time by providing a censorship-resistant, invisible, easily transportable, liquid and globally tradable vehicle around the clock, 7 days a week and 365 days a year. No breaks. No CEO. Tended by the people.
Maintained by a flotilla of free agent developers who work day and night sacrificing their treasures time to ensure that the open source network continues to provide services that so many around the world have come to trust and compensated by the community (donations from individuals, organizations and companies who consider themselves members of the Bitcoin Legion).
I think if you really appreciate yours timethen you need to measure yours time in money that is worth it trust. Bitcoin is the most logical vehicle for protection time Value.
I trust Bitcoin.
* *P.S. Thank you Orville for your contribution, for being one of my avid readers and a good friend.
This is a guest post by Mike Hobart. The opinions expressed are solely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.