Once we reach hyperbitcoinization, when bitcoin is the primary medium of exchange and unit of account, how much money will Bitcoiners be willing to spend on art that is not directly related to Bitcoin? How else will a bitcoin-denominated society create opportunities for the arts to thrive? It’s possible we will see another period similar to the Renaissance when wealthy families, primarily the Medicis, sponsored artists by paying them commissions in advance. It’s not difficult to imagine how the appreciation of low time preference would encourage individuals to invest in artwork that will last beyond their lifetimes.
With wealthy Bitcoiners willing to allocate resources to the arts, we can move toward a more aesthetically appealing future that includes more than traditional styles of art. The patronage of the Medici Family extended beyond the sponsorship of artists to also facilitate the completion of important architecture, leading to the building of galleries, gardens, chapels and plazas. Many Bitcoiners often talk about living in a community within Bitcoin “citadels.” The idea being that Bitcoiners will live with other like-minded families in a protected structure. The design and construction of these buildings in the future can be created by supporting pioneering architects who take regenerative electricity production and heat generation into account. For example, powering ASICs with hydroelectricity and using the heat the miners produce to heat homes , hot tubs , greenhouses and more . We have barely begun to scratch the surface of how these tools can be used in harmony with design principles to manufacture completely off-grid, self-reliant systems. Imagine a world where the byproduct of bitcoin mining can provide additional use beyond securing the monetary backing of a global financial system.
Thinking about the future, what kind of world do we want to develop, create and promote? Who will design the citadels? How will we adorn the walls? What skills add real value to our lives? The question of how we allocate resources is one that we should start thinking about now. When hyperbitcoinization happens, we need to be prepared to utilize our amassed wealth in calculated and wise ways. Not only investing in things that will make us more bitcoin but also by supporting causes that will make the world a more beautiful place. Artwork, architecture and general innovation that aligns with our individual values is a great area on which to focus. I, for one, am looking forward to seeing how art prospers in a bitcoin-denominated world.
Will Clemente eloquently sums up these beliefs, “Fiat incentivizes short-term thinking, subconsciously creating materialism/instant gratification. Bitcoin incentivizes long-term thinking, leading people to create and innovate. Now apply that framework from an individual level to all of society. The Bitcoin renaissance is near.”
Note: The title of this piece was inspired by the “Fuck Your Great Reset” episode of the “Wake Up Podcast.”
Marisa Jean Angeli’s “Bull Market.”
This is a guest post by Craig Deutsch. Opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.
