Latest data reveals that the US debt has reached a new all time high, with the total outstanding debt surpassing $32 trillion. Recent data from the government's FiscalData system indicates an increase of $54.9 billion in just five days. Since hitting the $32 trillion mark on June 16th, the US debt has risen by an additional $658 billion by August 10th. This surge in debt coincides with a stern warning from the United Nations about the growing worldwide debt accumulation. The UN highlights that global public debt reached an unprecedented $92 trillion in 2022, marking a significant five-fold increase since the year 2000. These and some other factors are the reason why renowned investor and author of Rich Dad Poor Dad Robert Kiyosaki have been warning of a global economic collapse like we've never seen in a long time.
In the realm of cryptocurrency discussions, the fervent passion displayed by individuals invested in Bitcoin has often been labeled as "toxic" by some observers. But to truly understand this intensity, one must delve deeper into the motivations behind it. At the core of the matter lies a conviction that transcends mere investment trends.
The question arises: Why are "Bitcoiners" so fiercely committed, and perhaps at times seemingly dismissive of other crypto ventures? The answer lies in the profound belief that Bitcoin represents a rare opportunity to challenge and reform a long-standing, entrenched monetary system like the one described above.
Bitcoin, often hailed as digital gold, is more than just a digital asset. Advocates see it as a revolutionary force capable of breaking the chains of an oppressive and inequitable financial framework that has held sway for centuries. This view stems from the decentralized nature of Bitcoin, which operates independently of traditional financial institutions, governments, and intermediaries.
Comparing this perspective to the fascination with yield farming and the appeal of rapidly evolving DeFi platforms might seem disparate. However, for "Bitcoiners," the allure of Bitcoin's potential to restructure financial systems far outweighs other crypto pursuits. It's not a matter of dismissing innovation, but rather prioritizing what they perceive as a transformative technology with the power to liberate individuals from centralized control.
This sharp contrast in focus leads to the perception of "Bitcoiners" as having a staunch, almost unyielding approach to their beliefs. The fervor arises from a belief in the historical significance of the Bitcoin movement—an endeavor that challenges the very foundation of traditional finance.
In a landscape where speculative gains and novel technologies abound, the intense passion displayed by "Bitcoiners" can be attributed to their belief in a grander narrative. Their commitment is rooted in the conviction that they are part of a movement poised to redefine economic paradigms.
So, next time you encounter the fervent discussions of "Bitcoiners," it's worth remembering that their intensity isn't solely about financial gains or technological trends. It's about the fervent belief in the potential for Bitcoin to spark a monumental shift away from the traditional monetary norms that have, in their view, perpetuated inequality and oppression and this could very well be a good opportunity to mention the Hive coin and all it's wonderful features which facilities what Bitcoin seeks to achieve.
In the end, the fervor of "Bitcoiners" emanates from the understanding that they are engaged in a historic opportunity—one that has the potential to reshape the financial world in unprecedented ways. And that, perhaps, is why they can't help but passionately champion their cause, even if it means appearing "toxic" to those who may not fully grasp the depth of their commitment.
Hive, with it's large number of loyal community members could very well take a cue from "Bitcoiners", seeing that our goals of a global financial system devoid of inequality and oppression quite aligns. Also,not to bring the argument on here, but I believe Hive has much more applications, use cases and inclusiveness compared to Bitcoin, hence the need to be even more staunch in our believe of the Hive ecosystem, to be unyielding to false projects out there and remain focused in singing the song of Hive everywhere we go.
References:
https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny
https://coinmarketcap.com/alexandria/glossary/bitcoiner
https://bitcoinmagazine.com/culture/what-toxic-bitcoin-maximalism-means-to-onlookers
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My name is Edwin Ifeanyi Louis (eil7304) and I love to write about finance and investing, movies, technology, gaming, fiction and just about any topic that piques my interest on a Blockchain platform called Hive.
