Hypershitcoinization: advent and ramifications


In brief, hypershitcoinization is a meme; and as with most memes, it has a long and convoluted history—one of which I’ll attempt to explain here. To fully understand the origins of term, a brief overview of fundamental economic forces, concepts, relevant examples, and memes is in order.

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Bitcoin: emerging decentralized consensus networks vs. omni-present central authority structures

Ten years ago, the Bitcoin protocol was first conceived and freely published on the Internet. It promised to be the first scalable, decentralized consensus network. Since then, there have been thousands of other such coins forked and cloned from Bitcoin, though none have been so far been able to match Bitcoin’s degree of decentralization, adoption, and scale. The emergence of truly scalable, decentralized networks directly threatens the long term dominance of the largest systems of centralized authority: national and global fiat currencies, finance, and banking. What impact will these newly created decentralized consensus networks have on the omni-present hierarchical authority structures that have existed for thousands of years?

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Bitcoin’s immanent power struggle for global dominance

The eons of central authority

Appeal to, adherence to, servitude to hierarchical authority structures is in humanities very nature; and it’s not merely a social construct. Disparate lineages of life have evolutionarily converged on dominance hierarchy as a primary key to the survival of social organisms. It’s written in the DNA of social insects and mammals alike. Wild ants, elephants, dolphins, lions, and wolves strongly obey it; submissive tendencies have been artificially selected for and exploited mercilessly in our domestication of bees, cows, pigs, sheep, horses, etc. Evolution has programmed the adherence to authority into apes DNA, and like it or not, every healthy cell in your body runs this same code of dominance hierarchy.

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Gold, fiat, banking, and Bitcoin: the day of reckoning cometh

The “ridiculously wasteful, malignant, guzzling” of electricity by Bitcoin miners is “illegally siphoning power, causing countrywide blackouts, not remotely sustainable, and is ruining the planet.”

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