The Emergence of the Sovereign Elite

[gracreavix]

At the moment, most of the power is still held by large companies and institutions because you will still have to change your Bitcoin to fiat currency to spend it. So much power is still held by governments. As of now, how many people really know about Bitcoin and are actually using it in today's world?
Bitcoin has made it possible for everyone to achieve financial sovereignty. I would love to see what happens if everyone in the near future really adopts Bitcoin.

[purple_sparkles]

From ancient times, elites derived power from controlling institutions.

Governments controlled money, banks controlled payment and corporations controlled opportunities.

But with Bitcoin a new set of elite is created;

People who can preserve and transport wealth without asking permission.

For the first time an individual can carry millions of dollars across borders using nothing but memorized seed words. Unlike traditional elites Bitcoin elites often do not display visible status.
You can identify a billionaire through private jets, mansions and luxury cars, but you can't identify a Bitcoin r holding 10000 BTC by just looking at them.

This is a form of sovereignty previously available only to states and powerful institutions.

The world's future elite may become increasingly difficult to identify because Bitcoin wealth is portable, private and often hidden.

I think people who don't want to reveal their wealth can still do a good job of keeping it private, and bitcoin is currently one of the better options for that. On the other hand, people who want others to see and recognize their wealth will continue to show it off, even if they could choose not to by using bitcoin.What I like about bitcoin is that, for now, it isn't fully controlled by governments. However, that may only be temporary, since a digital trail is generally easier to trace than, for example, direct barter transactions.I also think one of the main reasons governments haven't imposed total control yet is that some of the very people who have the power to implement such measures may themselves be using bitcoin to conceal money obtained through corruption.

[MRY]

At the moment, most of the power is still held by large companies and institutions because you will still have to change your Bitcoin to fiat currency to spend it. So much power is still held by governments. As of now, how many people really know about Bitcoin and are actually using it in today's world?
Bitcoin has made it possible for everyone to achieve financial sovereignty. I would love to see what happens if everyone in the near future really adopts Bitcoin.

The future of Bitcoin will to a large part be determined by how many individuals will be ready to utilize it directly. Nowadays not many people realize how to spend without swapping it with general currency. But once everybody begins to utilize this system there will be no need to have money be vested in the authority of the masses. New world order will definitely be established where the world will be financially emancipated.

[hd49728]

The future of Bitcoin will to a large part be determined by how many individuals will be ready to utilize it directly. Nowadays not many people realize how to spend without swapping it with general currency. But once everybody begins to utilize this system there will be no need to have money be vested in the authority of the masses. New world order will definitely be established where the world will be financially emancipated.

People like in your example did not use Bitcoin blockchain and bitcoin because they fell into altcoins. Rather than investing money in bitcoin, they did invested their money into altcoins, and used altcoins. With altcoins, swapping is very popular method for altcoin users while there is no barrier that prevents people to invest money in bitcoin, use Bitcoin blockchain and bitcoin for their money transfer or payments.

If they don't want to do the right and safe things, it's their responsibility and by investing money in altcoins and using altcoins, they already did bad decisions as well as practice.

[Sticky Bomb]

For the first time an individual can carry millions of dollars across borders using nothing but memorized seed words. Unlike traditional elites Bitcoin elites often do not display visible status.

Memory fails, no matter how you've practiced, life events can overwrite it, same reason it is best to put your seed phrases down into writing at least, or engraved in a metal sheet. A better approach would be to paraphrase the seed phrases and only memorize the extra word, just in case since your coins cannot be accesses with the normal 12 or 24 words without the paraphrase.

The world's future elite may become increasingly difficult to identify because Bitcoin wealth is portable, private and often hidden.

Bitcoin is designed to maintain a low profile, more like a secret billionaire and it makes more sense that way. I wouldn't want unnecessary attention. The world is actually safer that way.

[Abiky]

At the moment, most of the power is still held by large companies and institutions because you will still have to change your Bitcoin to fiat currency to spend it. So much power is still held by governments. As of now, how many people really know about Bitcoin and are actually using it in today's world?
Bitcoin has made it possible for everyone to achieve financial sovereignty. I would love to see what happens if everyone in the near future really adopts Bitcoin.

People aren't actually using Bitcoin. They're hoarding it. All with the hopes of getting rich quick. Many consider it to be the world's next store of value. Probably even better than Gold.

"Wall Street" is now deep in the game, so the Elite will gain more dominance over Bitcoin. At least, market dominance. Because we all know the core Blockchain network is immune from being controlled by powerful entities. For now. All that matters is Bitcoin stays decentralized and censorship-resistant. As long as it stays that way, no one will be able to stop it.

[davis196]

From ancient times, elites derived power from controlling institutions.

Governments controlled money, banks controlled payment and corporations controlled opportunities.

But with Bitcoin a new set of elite is created;

People who can preserve and transport wealth without asking permission.

For the first time an individual can carry millions of dollars across borders using nothing but memorized seed words. Unlike traditional elites Bitcoin elites often do not display visible status.
You can identify a billionaire through private jets, mansions and luxury cars, but you can't identify a Bitcoin r holding 10000 BTC by just looking at them.

This is a form of sovereignty previously available only to states and powerful institutions.

The world's future elite may become increasingly difficult to identify because Bitcoin wealth is portable, private and often hidden.

I do get your point, but privacy is under attack 24/7. Almost all crypto exchanges require KYC, hackers and scammers are using AI, the governments hate privacy. There are enemies everywhere and it becomes harder and harder to preserve your hidden wealth.
It's still theoretically possible for the governments to impose a mass crypto ban, which would push the cryptocurrency prices to levels we've seen 10 years ago. The independence and privacy are still there(assuming you are not using hot wallets and KYC services), but the wealth can be really fragile. The term "elite" implies that a group of people is holding political power. The rich "crypto whales" are definitely not an elite, because they don't hold any political power whatsoever.

[AVE5]

The world's future elite may become increasingly difficult to identify because Bitcoin wealth is portable, private and often hidden.

This sound very interesting with the insight of the financial sovereignty bitcoin is accorded based on its decentralization and even makes the new era with the ease to hold and moves your fund's around and makes your transactions across borders without having to lean on third party or authority approval due to its digitalized and technological framework.
Indeed the innovative ideal of Satoshi Nakamoto is indeed a mind blowing modernity with the series of its financial inclusion utility cases.
The financial technology is also a safe haven whereas, it stores your asset safe from natural disasters occurrences and only requires you to memorize or have your recovery keys safe unlike the traditional physical assets and the fiats that even the authorities in the traditional systems can't profer protections towards.

[Alphakilo]

From ancient times, elites derived power from controlling institutions.

Governments controlled money, banks controlled payment and corporations controlled opportunities.

But with Bitcoin a new set of elite is created;

People who can preserve and transport wealth without asking permission.

For the first time an individual can carry millions of dollars across borders using nothing but memorized seed words. Unlike traditional elites Bitcoin elites often do not display visible status.
You can identify a billionaire through private jets, mansions and luxury cars, but you can't identify a Bitcoin r holding 10000 BTC by just looking at them.

This is a form of sovereignty previously available only to states and powerful institutions.

The world's future elite may become increasingly difficult to identify because Bitcoin wealth is portable, private and often hidden.

I do get your point, but privacy is under attack 24/7. Almost all crypto exchanges require KYC, hackers and scammers are using AI, the governments hate privacy. There are enemies everywhere and it becomes harder and harder to preserve your hidden wealth.
It's still theoretically possible for the governments to impose a mass crypto ban, which would push the cryptocurrency prices to levels we've seen 10 years ago. The independence and privacy are still there(assuming you are not using hot wallets and KYC services), but the wealth can be really fragile. The term "elite" implies that a group of people is holding political power. The rich "crypto whales" are definitely not an elite, because they don't hold any political power whatsoever.

I think the rich crypto whales should also be considered as sovereign elites in the sense that OP meant, looking at the fact that they have Bitcoin and lots of it as compared to small individual retail holders still thinking of their next DCA investment.
Although Bitcoin did create something that's redefined money system in so many ways, ev b despite the appeal of the centralized systems to keep investors controlled and monitored, the decentralized systems still exist but only for those with the brains of how it functions.

In all, the emergence of the sovereign elites according to the title redefines economic power because it is the what separates the individual from institutional control and overreach.

[rat03gopoh]

The term "elite" implies that a group of people is holding political power. The rich "crypto whales" are definitely not an elite, because they don't hold any political power whatsoever.

Crypto can also shape political elites and influence psychological pricing. If a large number of people place their trust in a single entity to manage their assets, that's exactly how politics works. For example, recently, several pension fund regulators in several countries have begun allocating a certain percentage of their assets to increase exposure to high-risk investments.

[Oluwa-btc]

It has always been about transactional capital management from time honestly. It has always being the medium used for control.

What I don't understand is why the pro bitcoiners fall for these traditional elites pretending to be pro bitcoin when they know clearly that they're far from what they pose to be.
With bitcoin we can escape too many we couldn't through the traditional systems. Yes a lot of battle meant to be fought ahead but knowing and not celebrating these Psyops would be a good start.