Oct 31st: Monetary Reformation

Whitepaper day and Reformation Day

Halloween

October 31st serves different purposes.

1. All Hallows Eve in Roman Catholic tradition

2. A modern tradition of candy for kids and alcohol for adults

3. The Birth of Bitcoin

   

Martin Luther stapled 95 Theses to the Anglican Church on October 31st, 1517 beginning the Protestant Reformation: the separation of Church and State.

Coinciding with the mass printing of Bibles in non-Latin languages, Europe evolved into what we call the “Enlightenment” and the “Colonial Era”.

Each man, woman, and child is empowered to determine their religion and spiritual beliefs for themselves. The Church’s monopoly on religious “guidance” was disintermediated.

Satoshi Nakomoto released the Bible of Bitcoin, the whitepaper, on October 31st, 2008.

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BTC investors are all too familiar with the newspaper article embedded in the genesis block reading: "The Times 03/Jan/2009 Chancellor on brink of second bailout for banks." 

What’s often missed is the importance of Halloween: Reformation Day and Whitepaper Day.

Bitcoin, like the Protestant Reformation before it, disintermediates a powerful, central institution: Government monopoly of money

Your property rights are your rights to the extent you can defend them.

Government exists as a monopoly of violence in a given territory. A lack of a monopoly on violence exists in parts of Mexico and Iraq to name recent examples.

Bitcoin is individual sovereignty not because a government, court, or power enforces your “rights”.

Rule of Code > Rule of Law. With 12 Words in your brain (or next of kin’s brain), you can transfer value 10,000 miles away or 10,000 miles into the future.

Bitcoin is the separation of state. Its ramifications cannot be understated. Like Martin Luther, Satoshi’s whitepaper will be dismissed at first.

Gradually, then suddenly.

-Stay Curious