Bitcoin Becomes a Safer Bet in a World of Turmoil
As Subscribers, you're receiving this piece of content first hand.
When everything seems to be going against you, remember that the aeroplane takes off against the wind, not with it. - Henry Ford
Satoshi Nakamoto stole the knowledge of money and gave it to the people in the form of Bitcoin.
When Prometheus stole fire from the heavens and gave it to man, he was deemed a treacherous criminal. Chained to a rock and having his liver eaten out by birds every day is the kind of punishment that send shivers down your spine. Install fear into every living creature.
Thinking about stealing fire is easy, but it proved to be a little more complicated than that. Nevertheless, Prometheus through his wit and intelligence found a way to trick the gods into a melee and sneaked fire down to Earth. (Nakamoto understood his role. He stole the idea of money from an overlord. That is why he has to remain anonymous and leave Bitcoin for good.)
The sacrifice was great. But it changed humanity forever. Ignited the fire of freedom. And man grew smarter.
Over time, we saw that happen with electrification, the automobile, flight and the internet. Each faced violent opposition from the former establishment and its incumbents.
They were sparks that led to a quantum leap in human evolution. Today, we’re witnessing another unfolding before our very eyes.
Just like it was ridiculous to speak of Rome failing in the 5th century, it is now ludicrous to speak of our monetary system failing. Rome was so degenerate by the later stages of the 5th century that its “fall” eluded the notice of most people who lived in it.
Similarly the oil lamps that lit the streets of large cities became obsolete and replaced by ‘highly volatile’ electricity. The horse and buggy replaced by the “noisy” automobile. The telegram made a relic by the internet.
It’s the same with money. Money evolves over time. Easy money dies and is replaced by a better one.
Many things used to be money; cattle, shells, stones, beads, metal, plastic and paper. Now bits of information of 1s and 0s denotes how much money we have.
In the past, society converged and agreed that gold was the best form of money.
Scarcity ensures “Unforgeable Costliness”. The reason was simple, no one could ever produce more gold out of thin air even if want to. Unfortunately, gold has its flaws too. (To understand how we arrived at that conclusion, read about the history of monetary debasement.)
Today, we’re drowning in a sea of fiat money. Dollars can be marked up in a computer inside a private bank to magically produce numerals in the trillions with just a click of a button.
Can you imagine we work our whole lives just for dollars? Plus taxes. Why do we need to pay taxes when they can create trillions out of thin air?
ONE $Trillion is what you get if you spend $1 every second for 31,710 years... And does the money ever trickle down to us?
To understand why the rich get richer, while the poor become poorer in this monetary environment, you need to understand the Cantillon Effect.
Ask the right questions and you will begin to realize something is terribly wrong with our monetary system.
Luckily, we now have the option to opt-out and vote with our money instead of our politicians. You vote by saving money in Bitcoin instead of worthless 1s and 0s in a bank that can be inflated out of nothing to serve their cronies.
That said…
This week, I listened to:
Robert Kiyosaki is now endorsing Bitcoin.
The reason I endorse bitcoin is just for one freaking reason: you're not part of the system," said Kiyosaki in conversation with Anthony Pompliano, Morgan Creek Digital co-founder and the host of Pomp Podcast
How much do you trust your government?
Chamath Palihapitaya
The Billionaire who bought Bitcoin in 2013 and calls Bitcoin a “Schmuck Insurance” every layperson needs to have in their portfolio.He calls out greedy corporations looking for bailouts during this corona crisis.
Mark Yusko
Investor who made a lot of money betting against the market in 2008. He’s a huge Bitcoin bull. Listen to this to understand what’s wrong with the market and why the problems have existed even before the pandemic occured.
How much Bitcoin I earned this week in satoshis (sats)….
[ 1 BTC = 100,000,000 sats] Only 21 million BTC on the planet.
LocalBitcoins - 39,471 sats
Brave - 192,857 sats
Now Even Less bitcoins for everyone.