2 min read

Catalysts: Change We Can Believe In

A catalyst is the thing that triggers an event, movement or permanent shift. They kick-start some kind of reaction in their surrounding environment, but do not undergo change themselves. Gradually→[Catalyst→Event]→Suddenly Today, more often than not, it's technology that drives these changes (whethe
Catalysts: Change We Can Believe In

A catalyst is the thing that triggers an event, movement or permanent shift.

They kick-start some kind of reaction in their surrounding environment, but do not undergo change themselves.

Gradually→[Catalyst→Event]→Suddenly

Today, more often than not, it's technology that drives these changes (whether we're aware of it or not).


Born Of A Catalyst

The Times of London (3 Jan 2009)

While the Global Financial Crisis (and subsequent bailouts) clearly held some significance in the eyes of Satoshi Nakamoto, due to the message encoded in Bitcoin's genesis block, it was not the catalyst.

The trigger that catalyzed Bitcoin was the cracking of a longstanding computer science problem from 1982- The Byzantine Generals' Problem.

Several previous attempts were made at peer-to-peer digital cash, but the missing piece was a practical mechanism enabling potentially hostile actors to agree on a single version of truth.

For Bitcoin this was Proof-of-Work. [thread👇]

Becoming The Catalyst

12 years on, Bitcoin finds itself as a catalyst.

Central banks are being made to at least pretend to demonstrate innovation in CBDCs. Corporate boards are being badgered to take action in protecting shareholder value amid negative real returns on cash balances. Dollar-pegged nations, bearing the brunt of US M2 expansion, can now seriously consider where they'll draw the line.

Bitcoin's sphere of influence is also dynamic relative to its price.

At $1T, it's beginning to spook gold's dominance as a store of value and inflation hedge. An order of magnitude larger and it'll be sucking capital out of the $100T+ global bond market.

Catalysts For Hyperbitcoinization

Right now there are a host of political and economic developments pushing people towards Bitcoin. You likely already understand the how, what and why. It's the when that remains a mystery.

The only future certainty is change.

“What is history, indeed, but a record of change?" -Jawaharlal Nehru