If history repeats itself, Bitcoin, the 10-year-old network that allows users to exchange value peer-to-peer, across borders and without any banks, will spark a reformation.
A new thesis that digs deep into the past to predict how the world’s leading cryptocurrency can reorganize global systems well into the future, charts how Bitcoin has become the linchpin for a new dynamic that will have a profound impact on society.
In an epic tweetstorm, Tuur Demeester, founder of Adamant Capital, writes,
“The main thesis of ‘The Bitcoin Reformation’ is that there are four fundamental parallels between the Protestant Reformation and the present day, which could signal profound societal and economic changes ahead.
This is the TL;DR version of a 13 page report. This tweetstorm shares the essence but strips away the little historical details that made it so fun to research and write. Check it out here.
The Protestant Reformation was a multi-generational conflict (16th-17th C.) that produced the separation of church and state, and which profoundly reshaped the economies of Europe and the New World. Today, bitcoin suggests that it’s possible to separate _money_ and state.
Aside from the four general Reformation parallels, our report also suggests that there are significant similarities between the innovative economy of 17th century Netherlands and the bitcoin economy today. This may give us insight into what’s coming for bitcoin.”
Demeester speculates that Bitcoin’s primary drivers will be in saving, lending and underwriting, along with bonds, annuities, loans, insurance and offshore banking that turns into Bitcoin banking. He also notes that the initial exchange offering, an instrument used by entrepreneurs to fund projects designed to grow the crypto ecosystem, is expected to rise.