I attended the Bitcoin Freedom Festival held in Uvita, Costa Rica from January 18th to 20th. It was a unique event unlike any other Bitcoin gathering I have ever attended. There were over 30 speakers over the course of the festival so I won’t cover each one, but there was one session that stood out and that was a panel of indigenous women who all spoke through a translator. This panel said two things on the final morning that captured the essence of the festival. First, she made it clear that they were guided by the Great Spirit to stand on that stage. (“I came because the Great God made a way.” This includes cars.) The wind speaks to us, the water speaks to us, the trees speak to us. Her grandfather used to say, “Always say things that give us energy.” Some of these ideas may seem strange to the Western mind, which is completely addicted to living disconnected from screens.
Bitcoin is natural money!
Then one of the panelists explained Bitcoin in a way I had never heard before. She called it natural money or ‘natural money’. It was one of those moments where a blinding flash of the obvious hits you like a thunderbolt. “Bitcoin is natural money.” Wait, did she say Bitcoin is natural money? Holy crap “Bitcoin is natural money!!” A completely ignorant person would say that Bitcoin is not backed by anything, but that would be so ridiculously wrong that there is no point in even talking to someone with an uninformed opinion. Some Bitcoin miners like to say that Bitcoin is “money backed by energy,” which many Bitcoin miners (notably Eric Yakes, author of The 7th Property) strongly dispute. Eric says Bitcoin is “secure” by energy, which I agree is a better construct.
But this wise woman of the jungle gave Bitcoin its best framing. It is “naturalmone y”. It starts with flowing water, methane gas, hydrocarbons, wind power, and solar power. All of these elements come from nature and are converted into electricity so that Bitcoin miners (ASICs) can start hashing and ultimately creating Bitcoin. Without these natural resources, there would be no Bitcoin. Statement of facts. Start with natural things and end with Bitcoin. The idea that every country in the world possesses natural resources that were previously incapable of being converted into natural currency remains true for people in Africa or Costa Rica. (Note: If anyone reading this likes the idea of natural money and would like to write a children’s book on the topic, please contact me.)
Fiat currency is the exact opposite of natural money
Compare what it takes to produce “natural money” to all the world’s fiat currencies or the best alternative coins. If you are a central banker or someone who holds an insider position (one of the privileged few) in creating money out of nothing, not nature, you can create trillions of dollars out of thin air in seconds. Fiat is the exact opposite of natural money!! “Put it in your pipe and smoke it, Senator Warren!” Fiat is artificial. Bitcoin is natural.
Natural currency, not Bitcoin
Bitcoin is a term for zealots, ideologues, and movements. There is nothing wrong with the term Bitcoin, but think of the hostile energy opposing Bitcoin. Our enemies have scathing stories about this. Is this nonsense? of course!!! Do most people in the world know that? no!!!
Problem: Bitcoin is used in derisive terms by its biggest enemies, haters and detractors. I have personally watched people, young and old, visibly pale when the word Bitcoin is mentioned.
Solution: Natural currencies are much more accessible to beginners. Imagine if we asked Charlie Munger, Warren Buffett or Peter Schiff, “What do you think about natural money?” Their response will make them seem cynical and ignorant.
Natural currency quietly, peacefully and gently arouses curiosity about the idea that there is such a thing as natural currency in the world. There are all kinds of implicit properties in this term that neutralize Bitcoin’s attack surface. It also reduces the attack surface for Bitcoin opponents, as it is much more difficult to attack “natural money.” Natural money is of the people, for the people and by the people. Of course, one could argue against “natural money,” but it seems almost unnatural to do so. This eliminates some of the common attacks and darts thrown at Bitcoin.
It is the first natural currency based on the Internet. It doesn’t need much explanation other than to say that it is the only form of money that is fueled or supplied by natural resources. Who would want to oppose “natural money”? (Go back to the experiment: read your favorite article or the next article about Bitcoin, but every time you see the word Bitcoin, replace it with the term “natural money.” What do you think?)
call for action
As the festival drew to a close and we gathered around a bonfire on the beach on Playa Hermosa’s final night, I shared this indigenous woman’s insight with other festivalgoers, and it resonated. So, finally, I encourage you to consider doing a “soft fork” in your language usage from this point forward and share her wisdom widely. In my opinion, she captured the mold of Bitcoin by calling it “natural money.”
From now on, whenever you get the chance, we recommend using the term natural currency twice as often when describing Bitcoin. why? There are segments of the population that are more likely to be curious about natural currencies. The world has been psychologically and unconsciously starved for natural money since Nixon closed the gold window in 1971. Bitcoin may sound too much like a cult or cult to those who are unaware of its groundbreaking impact on humanity. Since Bitcoin’s inception, dozens of negative stories have been thrown around. To me, it seems much more accurate and satisfying to call Bitcoin a natural currency. One of the festival attendees created the Twitter handle #naturalmoney. As a show of respect for this wise woman, let her know that you agree with her opinions.
This is a guest post by Mark Maraia. The opinions expressed are solely personal and do not necessarily reflect the opinions of BTC Inc or Bitcoin Magazine.