Bitcoin ETF passed, now what?

In the past two days, after the news that the US SEC approved the Bitcoin spot ETF, I saw a Twitter comment that made me feel deeply:

"Bitcoin ETF, to be honest, is just a feast for capitalists and Wall Street, and has nothing to do with us ordinary people."

This sentence is very true in my eyes as a currency industry practitioner.

When everyone is celebrating the price increase, probably few people will think like me that "the number of Bitcoins I can buy has decreased again"😅

The truly scarce thing in the world is not money, but purchasing power! Due to the completely inelastic supply characteristics of Bitcoin, the real meaning of its price increase is that the legal currency has depreciated again. Unless you are a currency speculator friend who likes contract leverage, the increase in currency prices will not affect most of us salaried people who receive legal currency. That may not be good news.

Therefore, the solution is not as simple as the word "pulling" that is often heard in the currency community. The root of the problem is not "no pulling", but the "insecurity" of the purchasing power of the currency held by most people. In addition, even if the price of BTC really rises, do you really have All In to get on board? Do you dare to go long with a full position without fear of price fluctuations? In the event of a collapse, how should we cope with daily life?

Firewood, rice, oil, salt, sauce and vinegar tea

The real need of most people is not to speculate in currencies, but to take care of themselves and the small world around them. "Get rich and retire immediately" may be the best solution for many people, but it is not valid for society as a whole, because when everyone no longer engages in production or provides resources, the economic system will collapse. .

In addition, it is this narrow self-interested thinking that has led to the over-concentration of resource allocation and the gap between the rich and the poor. After all, the world can only support a few idle people, and today everyone is forced to climb the never-ending wealth pyramid. scene.

And the real situation is that many people don’t even have the opportunity to climb this “wealth ladder”, even people in the currency circle are no exception. In early 2022, I met an American friend Jeff because of Tide Trust Network, a small project on the Stellar chain. Because of their common interest (Remote Viewing), we built our own Discord community and website and made several psychic friends.

Jeff just had knee surgery two months ago, and Leora was often harassed after being abducted by aliens. A few days ago, her daughter was sent to the Emergency Room because of her health condition. Neither of them is currently working. If Unless our meme coin project holds Remote Viewing competitions and receives a few customer commissions, it can be said that there is almost no source of income at all. Life is almost unbearable, so how can we care about the rise in currency prices and the approval of Bitcoin ETFs?

An ETF moment for everyone

The underlying algorithm of Bitcoin, "Proof of Work," simply explains the fundamentals of the economic system in code. It has stood firm through various tests over the past 10 years, and now it has finally gained mainstream recognition. But in fact, the current Bitcoin is no different from the previous Bitcoin. It is still the same mining process and the same power consumption. It is just that people's perception and acceptance have changed.

This is just like us who are engaged in all walks of life in society. We contribute labor, manufacture products, provide services, and take care of ourselves and our relatives and friends. These "proofs of work" are valuable and have always been the foundation of human civilization. However, due to the development of the financial system and modern monetary theory, income from labor services and capital gains are now completely out of proportion. It has become a strange phenomenon where "laborers cannot accumulate capital, but capitalists do not need to perform labor services." Because in the legal currency system, there are always people who can obtain wealth without submitting proof of work.

So what is the problem? Is the workload proof really unable to withstand the test? Or, just like Bitcoin, have financial markets mispriced workers’ compensation for a long time? Perhaps as economist Friedrich von Hayek stated in his book Denationalization of Currency , decentralizing the power of coinage to democracy, and allowing anyone to issue their own competitive currency to control pricing power, is the solution to resource allocation and economic problems. effective method.

Only by allowing unproductive bad coins to be eliminated by the market, valuable good coins to stand out, and giving everyone the opportunity to win their own ETF moment can we create a truly prosperous society. When everyone issues their own "daily life" tokens, the price fluctuations in the currency circle are not so important. The market basically rises and falls simultaneously, and the relative exchange rate does not change much.

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ZenPandaCoin, the meme coin project that the editor is currently taking over, has reached a partnership with Screaming Into The Night to provide Remote Viewing services. 👁️

In the CRV experiment I designed in the past six months, founder Jeff and other members such as Leora, Birdy, and Kamalkaze all showed very high extra-sensory perception abilities (Extra-Sensory Perception) under Blind View conditions. Even though they The services provided are not currently recognized by the market, but I firmly believe that what they do is valuable and will gradually become popular with the rise of the decentralized scientific research (DeSci) track.

Currently, there is no fair pricing method for this type of psychic service on earth. As a pioneer in the spiritual meme currency sector, we decided to set an example and use 100 billion ZPC tokens as the price of a single Remote Viewing service.

If Remote Viewing is ultimately proven to be a scam, SITN will not be able to make a profit due to the continued decline in ZPC prices; but if the Remote Viewing phenomenon is indeed true and members have indeed interacted with extraterrestrial civilizations and non-physical entities (Non-Physical Entities) ) have had contact experience, then the market value of our meme currency will rise with the popularity of public knowledge, just like the Bitcoin ETF. 🚀🛸👽

It is hoped that through the combination with cryptocurrency, it will open up a new way for the body and soul industry that is subject to discrimination and controversy, and create a psychic ecosystem so that related services can be reasonably priced to protect workers' income sources and improve their living conditions.