Essay: Why Gary Stevenson Should Rethink Bitcoin

@garyseconomics

Gary, your crusade against inequality is spot-on—the rich hoard wealth, wages stagnate, and housing slips out of reach. You’ve nailed how the system’s rigged, profiting off disparity as you did at Citibank. But your dismissal of Bitcoin as a “scam” or “musical chairs” misses its point. Let’s break it down through your lens. You see value in what’s tangible—property, bonds, cash flows. Bitcoin’s different: it’s digital scarcity, forged by energy-intensive mining, not free “points on the internet.” It costs real resources—miners burn electricity rivaling small nations to secure it. That’s not hype; that’s a backbone. You’ve said wealth concentration tanks demand, keeping rates low. Bitcoin flips that script. It’s not controlled by banks or governments printing money for the elite—it’s capped at 21 million coins, a hedge against inflation you’ve seen erode workers’ lives. You fear Satoshi’s a shadowy puppetmaster, selling off a million coins to dupe the masses. Check the blockchain—those wallets haven’t moved in 16 years. No secret dump, no conspiracy. Bitcoin’s transparent; anyone can verify it. You’d spot a scam in derivatives a mile away—apply that here. It’s not a rich man’s toy; it’s open to anyone with a phone, from East London to Lagos, leveling a field you know is uneven. You’re right about speculative bubbles, but Bitcoin’s survived crashes—$20K in 2017 to $3K, now thriving in 2025 with institutional buy-in. It’s not about quick riches; it’s a store of value, like digital gold, for a world you’ve seen fail the poor. You’ve bet against broken systems before. Bitcoin’s a bet for one—decentralized, fair, and tough as nails. Give it a trader’s eye, Gary. It’s not the enemy; it’s a tool.

@satmojoe

@Jcastweet

@PeterMcCormack

@HawkMcFlipster

@Oriflamme87

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.