Selamat Hari Kebangsaan from a Malaysia Bitcoiner!
Merdeka Reflection
Yesterday we celebrate independence day. It might feel mundane and quiet due to no outdoor patriotic expression. But the price paid by our forefathers is significant and not to take for granted. I share your frustration of political instability, persistent high covid cases and tough economy.
Ever since I bought bitcoin, I’m keen to find out use cases to determine the underlying value. If bitcoin doesn’t have utility, it’s an outright ponzi scheme. Although bitcoin is an advanced technology, the use cases are often observed in emerging countries. Here are some examples:
Finding Financial Freedom In Afghanistan
Fighting Monetary Colonialism With Open-Source Code
Bitcoin Offers Freedom From Political Repression
The Bitcoin Revolution In Africa
The common issues are hyperinflation, tyranny governance, corrupt monetary system, no access to banking and capital, currency debasement, economic collapse, hostile environment etc. In Malaysia, we consider blessed though facing some hardships. As of now, we don’t experience these systemic issues and I’m grateful we still enjoy freedom.
That being said, we should strive to be better and capitalise on advantages. Remember Wawasan 2020 to become a developed nation? It has been postponed to 2030. I don’t have high hope in the current administration (one of my reason to buy BTC haha) but I see the potential and talents to become an advanced economy.
⚡ Recap: Bitcoin Week of August 23
1. Energy consumption of bitcoin is constantly brought up by critics without deeper research and strong evidence. Some articles to address the concern:
Bitcoin’s Energy Use Compared To Other Major Industries
Bitcoin’s Energy Usage Isn’t A Problem. Here’s Why.
The Bitcoin Energy Debate Is A Modern Reprise Of The Gold Resource Cost Debate
2. Clark Moody Bitcoin track bitcoin metrics.
Bitcoin Markets, Corporate Treasuries, Blockchain, Network, Mining, Chain Security etc.
3. Hal Finney is the first recipient of bitcoin transaction from Satoshi Nakamoto. He passed away on 28th August 2014. Some tweets to commemorate the cypherpunk: