Tuur Demeester has an amazing script written, in which there is more than a pull between the bitcoin and the English protestant Reformation. He is an American, a Belgian researcher and a co-owner of the Adamant’s Capital. In this article, we will give you a summary of the 13-page report.
In spite of this executive summary, we recommend that you order the report and read it. The work bears the title ” The Bitcoin Reformation, and is a free-to-read, and well worth the effort.
Contents
The church and the money from the state to divorce
The fundamental of The Bitcoin Reformation, it is that there are four basic similarities between the protestant Reformation and to the present time. In fact, they are focused on the future far-reaching social and economic changes. One of those similarities is the fact that in the 16th and 17th centuries, a struggle was going on at the church and the state to do so. Bitcoin has been in the fight for the creation of money by the state to do so.
Contracts in the economy
Also, the report discusses the parallels between the innovative economy of the 17th-century Netherlands, and in the bitcoin economy.
The first is an economic agreement, it is the rent seeking behavior of the state. Rent-seeking means that the master of the world, power is abused in order to get more power. In the 16th century that the roman catholic church, today, is the use of the financial system of fiat money and central banks. The church, however, was the only party that has access to the heavens was, and it was money in the account. You were, after all, one’s sins are discharged with the drain. The service provided by the financial system is to be provided with access to financial heaven.”
A second necessary reform is to be a technological revolution. This will give you ideas for even better and faster to distribute. The most important innovations of the 16th century, in the fields of maritime exploration and international trade, and, of course, the press. The printing press caused a book does not have an annual salary of more cost, but it’s just as cheap as a chicken. The current technological revolution in digital telecommunications, applied mathematics, data archiving, open source software, cryptography, and, of course, the internet. During the past twenty years, the cost of 1 mb of internet, with a 99% reduction.
Third, we need to have something to fight for. In the 16th century, it was the handelsklasse, and today it is the millennial generation and the financial system, not to trust, and who is heavily into technology investments.
The final requirement for a review is that you need to be able to defend it. The Dutch protestants had water in the moat, to defend against the invasion, and the millennials have the cryptography to be made available.
No memes, no revolution
Demeester is also in the program and slogans.
The protestants have used:
Sola Fide: only faith is sufficient, and no priest is required
Sola’s spirit, soul and body, the bible is enough, not a church
Bitcoiners to use:
Vires in Numeris, strength in numbers
Don’t trust, verify
Not your keys, not your bitcoin
HODL
Banking and the initial public offering
And then drops Demeester, in the Netherlands, the depositobankieren of the world-famous Amsterdam exchange bank. In this regard, the impact of bitcoin as a great innovation, because of the blockchain to ensure that no third-party trusted party is needed.
Be the first initial public offering in the world of the Dutch east india company. The shares are so liquid and it is desirable that they be on a large scale, have been used as collateral. Bitcoin is showing similar characteristics, and, therefore, the basisonderpand for lending, and derivatives markets.
He concluded his report with the following words:
And fall all of the pieces of the puzzle into one another, creating a chain reaction is created, which is the society of radical reform. This is what happened 500 years ago, and it can now be done.