"We are fast approaching a time [Bitcoin] standard instead of a gold standard."
—Buckminster Fuller, 1927
Bucky foresaw the inevitability of nation states selling off their gold reserves for Bitcoin.
What does a "time standard" have to do with a Bitcoin?
Time and Bitcoin are both finite systems. Everyone has the same 24 hours each day, making time a universal standard that transcends socio-economic disparities.
As Andreas so eloquently said, "Dude, I don’t have any f'ing money. All I have is my creative potential, my spirit, my productivity. And I can sell that directly!"
Bucky recognized that a time [Bitcoin] standard was the key to avoiding another, potentially terminal, global conflict.
This led him to write what I consider Version 1 of the Bitcoin whitepaper called 4D Time Lock and sent it to 200 selected individuals (like Satoshi did with the cypherpunk mailing list).
While 4D Time Lock reads like a housing manifesto, it actually has little to do with what we think of as housing. It was Bucky's sly roundabout way of writing about inviolable property.
He saw that people were having their time (unbeknownst to them) stolen through their property and understood that over a long enough time, this had terminal consequences of a global conflict.
4D Time Lock, as the title suggests, was a permissionless way for individuals to protect their time.
"Thank heavens, what might have eventually been another world war ... will be averted by the bloodless deflation of property value by 4D Housing [inviolable property]."
He understood 4D Housing, or inviolable property, was a peaceful, systemic solution to the unseen time theft. By introducing inviolable property [Bitcoin] that eliminates the inflated value tied to private property, society can reduce the grip of "propertyism" and be in control of their time again.
Though we are inherently capable, a low time preference is a requisite for solving the increasingly complex challenges society will face. "Economic education," or Bitcoin literacy, is a key to our success.
Fuller views time as humanity's only truly irreplaceable resource. Every action, creation, or process involves the expenditure of time.
Gold is static, whereas time is dynamic and universally applicable, making it a more appropriate metric for an interconnected world.
A time [Bitcoin] standard would incentivize innovations that save time and optimize processes, aligning economic incentives with societal progress.
By valuing and accounting for time instead of gold, Fuller’s vision emphasizes human potential and productivity over the arbitrary accumulation of wealth. A time-based economy would reward contributions to society and empower individuals to focus on creative, meaningful pursuits rather than solely material gain.
In essence, Fuller’s advocacy for a "time [bitcoin] standard" represents a paradigm shift to a global system grounded in human ingenuity and potential while making theft and violence unprofitable. It aligns economic value with human time and energy, fostering innovation, cooperation, and collective progress.
"The dollar bill in time to come will be recognized as a time-captured and saved unit of energy by man."
Despite what it may appear, 4D Time Lock has less to do with housing as we know it. It was Bucy's first step to building a decentralized clock like the Bitcoin network.
Time and Bitcoin are both finite systems. Everyone has the same 24 hours each day, making time a universal standard that transcends socio-economic disparities.
As Andreas so eloquently said, "Dude, I don’t have any f'ing money. All I have is my creative potential, my spirit, my productivity. And I can sell that directly!"
Bucky recognized that a time [Bitcoin] standard was the key to avoiding another, potentially terminal, global conflict.
This led him to write what I consider Version 1 of the Bitcoin whitepaper called 4D Time Lock and sent it to 200 selected individuals (like Satoshi did with the cypherpunk mailing list).
While 4D Time Lock reads like a housing manifesto, it actually has little to do with what we think of as housing. It was Bucky's sly roundabout way of writing about inviolable property.
He saw that people were having their time (unbeknownst to them) stolen through their property and understood that over a long enough time, this had terminal consequences of a global conflict.
4D Time Lock, as the title suggests, was a permissionless way for individuals to protect their time.
"Thank heavens, what might have eventually been another world war ... will be averted by the bloodless deflation of property value by 4D Housing [inviolable property]."
He understood 4D Housing, or inviolable property, was a peaceful, systemic solution to the unseen time theft. By introducing inviolable property [Bitcoin] that eliminates the inflated value tied to private property, society can reduce the grip of "propertyism" and be in control of their time again.
Though we are inherently capable, a low time preference is a requisite for solving the increasingly complex challenges society will face. "Economic education," or Bitcoin literacy, is a key to our success.
Fuller views time as humanity's only truly irreplaceable resource. Every action, creation, or process involves the expenditure of time.
Gold is static, whereas time is dynamic and universally applicable, making it a more appropriate metric for an interconnected world.
A time [Bitcoin] standard would incentivize innovations that save time and optimize processes, aligning economic incentives with societal progress.
By valuing and accounting for time instead of gold, Fuller’s vision emphasizes human potential and productivity over the arbitrary accumulation of wealth. A time-based economy would reward contributions to society and empower individuals to focus on creative, meaningful pursuits rather than solely material gain.
In essence, Fuller’s advocacy for a "time [bitcoin] standard" represents a paradigm shift to a global system grounded in human ingenuity and potential while making theft and violence unprofitable. It aligns economic value with human time and energy, fostering innovation, cooperation, and collective progress.
"The dollar bill in time to come will be recognized as a time-captured and saved unit of energy by man."
Despite what it may appear, 4D Time Lock has less to do with housing as we know it. It was Bucy's first step to building a decentralized clock like the Bitcoin network.