An Open Letter to Elon Musk Concerning Cryptocurrencies


For it is not only the species but the human spirit that we wish to preserve.

To Elon Musk (and whomever else it may concern),

This proposal is published for any who would have interests but is humbly addressed to Elon Musk, for his shared dream of human perseverance and preservation and recognization that if this proposal were to be deemed in whole or in part viable he is foremost among those who could realize what is now put forth for consideration and iteration.

It is proposed that an economic system built on democratic equity in communal enterprise and the principle of individual and collective freedom is possible. This paradigm (true freedom through means) has been subjected by those who would perpetuate the consolidation of power though political and monetary exclusionary monopoly. The source of economic disparity and growing chasm of the “haves” and “have nots” and tool of enslavement is the perpetual governmental and banking control over a singular monopolistic currency. This consolidates power into the hands of a small minority who in turn wield enormous power over the masses. It is argued that, this creates a non-capitalist society that would appear superficially as capitalist but feigns true capitalist values, that of rights of free enterprise and the rights of individuals to self organize and self govern.

It is put forth for consideration a new economic system built on the principles of empowerment and freedom. The opportunity for such a shift has never been more feasible nor more apparent. The rise of various cryptocurrencies both highlights technology’s role and the demand for a true paradigm shift.

It is proposed that in lieu of an archaic stock certificate denoting one’s equity in an enterprise that a form of open-source cryptocurrency could instead be used. For example, instead of a stock certificate one would own, let us say, SpaceX coins. In aggregate these SpaceX coins would equate to the perceived market capital of SpaceX the enterprising entity and it’s assets. This creates a non-fiat currency one that establishes true equity for those who would own SpaceX coins. These coins could be traded or retained and would grow in value as the value of the underlying asset grew, those of SpaceX in this crude example.

Instead of having to put USD in a bank growing at some measly rate that benefits the banking industry and the elite, one’s wealth would grow along with that of the underlying enterprise merely by retaining equity or said another way, holding coins in a digital wallet on a universal blockchain.

Now the question arises, how are goods bought and sold with all these varying currencies of variable value? A democratic real-time always-open open-source based market and exchange run on a solar system spanning (from satellite servers to servers on Mars as well as Earth) blockchain is envisioned. This exchange would require vast amounts of energy necessitating a growing demand for harvesting solar power and the beginnings of a Dyson Sphere or Chain of satellites (at inception). Using a digital wallet, any one person can instantly exchange one currency for another at a market rate (for example SpaceX coins for USD, should a citizen of Elondia on Mars visits the US and wish to purchase goods on Earth.)

It is further proposed that Bitcoin, or something like it, act as the underlying reserve currency. BTC would replace the role historically held by gold, until the rise of manipulative fiat currencies and central banking. In a future where there is the potential for asteroid mining and a solar-system spanning civilization a digital monetary standard (vs a gold standard) would be requisite in a global and multi-planet economy. The citizens of Mars would not benefit if beholden to a monetary policy guided by any Earthly state. Only a truly free democratic market could sustain a multi-planet economy.

In the immediacy, those who wish to create communities of shared values could combine assets and create a self sustaining economies and exist peacefully within broader existing economies taking advantage of scale, thus far only afforded the privileged, for the mutual benefit of their chosen community (i.e. Enterprising Individuals, Communal Farmers and Homesteaders, Spiritual Communities, Bohemian Artists, Nieghboorhood Sports Leagues..)

In closing, being of little means and not technically inclined but excited about the future prospects of human endeavor and exploration toward the pursuit of knowledge, these thoughts are put forth if only to help further conversation and to spark additional ideas.

Whether valid or not, naive or not, regardless, for the benefit of all those who orbit the same Sun, it is past time we rethink everything (especially inherited systems that adhere to archaic thinking). May we find the Golden Path that preserves humanity.

May all find happiness.
Sincerest regards

Gibran

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