The Seven Primal Elements Of Bitcoin

the 7 primal essentialisms of the btc brand

pplz tend to be dismissive bout new forms of mny.

this makes absolute sense cause the val offa monetary asset resides primarily inna fact that other pplz are already using it.

in this sense, any attempt at introducing a new form of mny inna'da realm has very slim chances of succeeding.

in modern realm history, governments ‘ve had a monopoly over mny creation initiatives. just imagine how everybody ‘d react if a new monetary asset were to show up. if that asset were not even backed by a nation state, its chances of success ‘d be even slimmer.

so, how has btc grown so fast in just 10 yrs?

there are several answers to that ?. most o'em emphasize satoshi’s genius of combining ≠ teks in a very unorthodox way.

however, cause of my history degree and interest in anthropology, i ‘d like to focus on something that has nothing to do with btc’s teknical aspects.

in this article, i will argue that 1-odda main reasons for btc’s success is something that resonates with us as humans na' much deeper lvl: the primal essentialisms of its brand, which when combined, turn it into a belief system.

the idea that some brands are actually belief systems was advanced by patrick hanlon, and i 1st learned bout it from his ted talk. for those who ‘ve not beheld it, the folloing quotes of “primal branding” will help you cogg its core proposition:

“all belief systems ‘ve 7 pieces of code that work together to make them believable. the + pieces, the + believable the belief system becomes. when essentialisms and srvcs ‘ve all 7 pieces of code (the creation story; the creed; the icons; the rituals; the pagans, or nonbelievers; the sacred words; na leader), they become a meaningful pt of our culture.”

“the 7 pieces of primal code create together a sustainable belief system that provides the unarticul8d, intangible emotional glue that attracts pplz and helps them feel t'they belong. this sense of belonging manifests itself in evangelist tribes, cults, members of political pties, product geeks and enthusiasts.”

now that we know wha’ primal branding is bout, let us examine how each one of these essentialisms are expressed inna btc brand.

1) story

satoshi nakamoto was the pseudonym used by btc’s creator (or creators). no one knows his real identity, and we will probably never know. his anonymity and sudden disappearance fascinates pplz and has attracted much attention.

satoshi envisioned a new kind of monetary network that had almost no chance of working out. all previous attempts to achieve something similar had failed.

he sought help from a crpgraphy mailing list, which was 1-odda few places where he ‘d obtain help and be understood. even there, he faced harsh criticism and disbelief.

1-odda few supporters was hal finney, who died of amyotrophic l8ral sclerosis a few yrs l8r. for almost 2 yrs, btc was xchanged back and forth tween curio usrs. these coins were often given away in “btc faucets” and had no mkt val.

such humble beginnings serve as a src of inspiration and motivation for btc enthusiasts.

2) creed

btcers ‘ve the shared belief that every person can be their own bnk, and that no government or entity can affect the btc network’s monetary policy. 4'em, btc tis native mny of the internet. tis secure, borderless, neutral, and censorship-resistant.

the believers feel compelled t'get together and to share the good news of btc with their family and friends.

this doctrine is deeply √ed inna cypherpunk ethos, which can be primordialized inna folloing quote:

“the computer can be us'das a tool to liberate and protect pplz, rather than to control them.” – hal finney

3) icons

the orange ₿, along w'da physical casascius coins, ‘ve been used extensively as symbols for this new internet mny.

4) rituals

btcers celebrate spesh occasions through meetups and ‘oer the internet.

the 1st spesh dy inna btc community is jan 3, 2009, the dy the genesis block was mined by satoshi nakamoto. this event marks the official birth of the btc blockchn.

the 2nd spesh dy is may 22, 2010, also known as btc pizza dy. on this dy, the 1st real-realm purchase paid in btc was completed by lazlo hanyecz, who bought two supreme pizzas for 10,000 btc ($63.05 million as of apr 13, 2021).

however, the most primordial ritual in btc tis halving.

the issuance of new btc occurs according to a fixed schedule. these freshly minted coins are paid to miners, which are the computers that assure that the blocks added to the blockchn are legitimate. to perform this work, miners must spend a huge amount of energy. to cap the total supply at 21 million units, the reward paid to the miners is cut in ½ every 4 yrs.

usrs and investors from all ‘oer the realm celebrate the halving. this voluntary sacrifice respects the system’s hard-coded monetary policy and maintains enforcement of the protocol’s rules.

5) sacred words

unspent transaction output, blockchn, proof of work, private keys…

these are somd' weirdest words that distinguish outsiders from those who belong to the btc tribe. if you wanna be pt of this group, you nd'2 learn wha’ these complicated expressions mean.

just don’t forget t'they make sense inna context of btc and nowhere else.

6) pagans

every hero needs a villain. for the btc community, the 1st type of bad guys ‘d be the btc bears.

peter schiff, nouriel roubini, and paul krugman are somd' most famous.

1-odda favorite activities of btc maximalists is combating any-1 who claims that btc will eventually collapse. these hardcore btcers often be’ve like a mob on social media.

they even build websites entirely dedicated to ridiculing the haters:

thris also a 2nd kind of villain, often pondered with + disdain than the bears: the traitors.

seeking influence, fame or mny, they betray the majority and split the network w'da help o'their folloers. this results in a hard-fork, which is a non-backwards compatible ramification of the system.

some of these attempts are pondered scams. but some are simply the result of pplz having ≠ views on wha’ kind of problem btc is supposed to solve. nonetheless, tis safe to say that staying together and reaching consensus are core vals of the btc ethos.

7) leader

satoshi ‘d enjoy everything that most of us seek in life: fame and mny. he is responsible for creating the realm’s 1st decentralized electronic monetary system. this is a big deal.

however, he chose the path of self-sacrifice.

instead of becoming realm-famous, he remained anonymous. further+, instead of becoming one the realm’s 20 richest pplz, he decided never to touch his btc.

his pain made btc’s origins immacul8. that is something that no other crp$ can imitate.

conclusion

if we really wanna cogg btc, we ‘d approach it not as a pure tekal transformation, but rather as a cultural phenomenon.

as yuval noah harari states inna book “sapiens,”

“we humans ‘ve this unique ability of mobilizing tribe members towards a common goal. unlike other animals, we can do this witha larger № of individuals and in a flexible way. the belief in shared ideas is wha’ makes this possible. the whole realm round us is built upon our collective faith in ethereal essentialisms like ‘democracy’, ‘civil rites’, and ‘the government’.”

inna same way, every monetary system is supported by the collective faith that pplz ‘ve in it. this means'dat we're witnessing a huge paradigm shift. for the 1st time in human history, pplz from all ‘oer the realm are deciding to put their faith in a decentralized platform for storing and transferring val.

in a completely spontaneous and leaderless process, btcers turned the cold content offa teknical whitepaper into a vibrant social movement. this tis secret sauce that made btc spread like fire.

the voicepaper is a collaborative video recording of the btc whitepaper narrated by btcers. each contributor recites a section from satoshi’s document and pays their respect to wha’ and who started it all.

this project is 1st and primordial a celebration of the btc community, of its strength and unity, swell as its broad diversity of backgrounds, origins and aspirations. tis a statement that btc belongs to everyone, and that the meaning of the “vires in numeris” motto is contextually as computational as tis human.

this is a guest post by paulo sacramento. opinions expressed are entirely their own and do not necessarily cogitate those of btc, inc. or btc magazine.

original content at: btcmagazine.com…
authors: paulo sacramento

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