Introduction to New Conception of Ownership

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In today’s world, the traditional approach to ownership is proving to be inefficient. The Uber-for-X model has helped to address part of the issue by tapping into the untapped value of long-tail assets. However, the underlying reason for the proliferation of long-tail assets remains a perplexing mystery. This essay explores the idea that the outdated concept of ownership is the root cause of this phenomenon. It proposes that individuals only need to own bitcoin, which can pave the way for a fully shared economy. Embracing a hyperbitcoinized civilization could be the solution that revolutionizes our society and economy.

Personal Insights on Traditional Real Estate Market

As someone who grew up in China during a housing bubble, I witnessed firsthand the drastic growth in property values and the allure of cash payouts from property development. However, I also observed the many challenges associated with property ownership, such as high taxes, fees, and the burden of maintenance. These experiences made me question the conventional approach to ownership.

Millennials and The Modern American Dream

In the U.S., I observed that many millennials still uphold the traditional American dream of owning multiple vehicles and properties, succumbing to the pressures of consumerism fueled by capitalism. As a minimalist, I found it difficult to reconcile with this materialistic lifestyle, and I began to ponder the true essence of ownership in the modern world.

Embracing bitcoin as The New Form of Ownership

Henry David Thoreau believed in the simplicity of life, and in today’s world, I believe that owning just one’s private key may be sufficient for survival. I recognized that bitcoin offered a unique value beyond being a digital “gold” or a speculative “stock”. It represents a currency without borders, transcending traditional sovereignty and offering autonomy to individuals.

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bitcoin as A Tool for Financial Freedom

bitcoin presents a pathway to financial freedom. It enables individuals to borrow against their bitcoin assets and access fiat currency to be spent globally. The value of bitcoin continues to rise, while traditional fiat currencies are plagued by inflation, making bitcoin a compelling financial asset.

The Vision for A bitcoin-Backed Civilization

Looking ahead, I envision a future where owning nothing but bitcoin is the norm. This would foster a global sharing economy, diminishing the prominence of nations and empowering individuals to travel, experience diverse cultures, and revel in unprecedented freedom.

This article is featured in bitcoin Magazine’s “The Withdrawal Issue”. Click here to subscribe now.

A PDF pamphlet of this article is available for download.

This is a guest post by LJ Huang. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or bitcoin Magazine.

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