No One Asks This About Current System...
HUGE Bitcoin Concern?
(👆Listen to audio version of me reading)
Money is not just a piece of paper or a number on a screen.
Money is an economic container for your time and energy and HAS to be a store of value.
A store of value that allows you to trade your time and energy for goods and services.
However, traditional fiat currencies are containers with holes in them.
Inflation steals your time and energy over time and funnels it to the governments.
The value of fiat currency decreases over time, making it harder for you to buy the same amount of goods and services.
Printing of currency through bailouts and quatntatiave easing is the scam that banks, central banks, and governments play on all of us.
They steal our time and energy through inflation, while we are left with nothing but less purchasing power and more debt.
Bitcoin is a finite container of money that is perfectly equal to your time and energy.
Unlike fiat currencies, bitcoin doesn't leak any of your time and energy and holds and grows your purchasing power over time.
Bitcoin is a decentralized digital currency that uses cryptography to secure transactions and control the creation of new units.
It is a peer-to-peer system that operates without a central authority or middleman.
This means that you are in control of your money and don't have to rely on banks, central banks, or governments to manage it for you.
Banks and central banks can’t be audited by you, bitcoin can be.
Central banks have no predictability in monetary policy, bitcoin does.
Banks regularly blow up and lose clients deposits, bitcoin doesn’t when you hold in cold storage.
Bitcoin only goes to wealthiest and already gone?
One of the most common criticisms of Bitcoin is that it will only flow to the wealthiest hands, making it a tool for the elite to maintain their wealth and power.
Fortunately, for the average pleb, this is not the case.
Bitcoin's proof-of-work mechanism guarantees that it won't happen because Bitcoin will only change hands through actual work in the form of labor of time, energy, intelligence, etc.
The process of mining Bitcoin involves solving complex mathematical equations, which requires a significant amount of computational power and energy.
This means that only those who are willing to invest the time, energy, and resources required to mine Bitcoin will be able to acquire it.
It is a merit-based system that rewards hard work and innovation.
Why does no one ask this about the current system?
Another important question to ask is why only a few thousand people hold the majority of the world's wealth?
Why do people not question the Forbes 400 list like they worry and scrutinize Bitcoin for being centralized in a few hands?
This is a valid concern, and one that we should be addressing.
However, the difference between the centralized wealth distribution of fiat currency and the decentralized distribution of Bitcoin is that the latter has the potential to fairly and evenly distribute wealth over time.
Bitcoin's proof-of-work mechanism rewards those who contribute to the network, which means that the most productive members of society are more likely to acquire more Bitcoin.
Over time, this could lead to a more equitable distribution of wealth and power.
Whether you are working at McDonalds or you are a doctor, if you save more than you spend you can retire with dignity and become wealthy.
Something that CANNOT be said in the fiat legacy monetary system.
Future Shock
Humans have a hard time changing, and Alvin Toffler's book Future Shock highlights this fact.
To be successful in the future, we will need to be good at learning, unlearning, and re-learning.
This applies to Bitcoin as well.
We need to unlearn what we have been taught about traditional fiat currency and re-learn what money really represents: our time and energy.
We need to understand that fiat currency is broken and that we must transition to a fair sound money finite system to create an equal playing field.
Most people have a hard time accepting this because they have grown up only being taught the fiat system.
The choice is ours.
If we continue to rely on traditional fiat currency, we will continue to be at the mercy of banks, central banks, and governments who steal our time and energy through inflation.
Humans know change is needed but go to politics to seek it and will only get more of the same.
As Jeff Booth says,
“You cannot change the current reality from the current system.”
We need to transition to a sound money system that is perfectly equal and finite to our time and energy.
The choice is ours to make.
We can either face the pain of discipline and learn about Bitcoin and its potential for creating a fairer economic system, or we can face the pain of regret for not taking action when we had the chance.
Bitcoin is not a perfect solution, but it offers a way forward that is fairer, more transparent, and more secure than our current system.
By embracing correct definitions and sound money principles, we can work towards creating a more equitable world where our time and energy are valued and protected, rather than being stolen through inflation and do-gooders in the unproductive class.
Stay strong,