#Bitcoin is a monetary system.

Unlike the current system, you are not required to trust a central authority or intermediary to keep it honest.

It is honest by design.

All Bitcoin transactions are publicly recorded and can be audited globally by anyone with an internet connection.

The total supply of Bitcoin is fixed and cannot be increased by anyone.

The issuance of Bitcoins is transparent, predictable and has been programmatically scheduled since its creation. No one can change this.

The purchasing power of Bitcoin cannot be debased given its fixed supply. Its purchasing power only increases as demand for Bitcoin increases and its supply remains unchanged. The Bitcoin monetary system cannot be used by central planners to subsidize their political agenda through taxpayers with the hidden tax known as inflation.

Bitcoin has nothing to hide. It is public and transparent. Every single component of this new technology and monetary system can be reviewed and vetted by anyone.

Compare that to the current system which is opaque, secretive, trust dependent and ever changing.

History has time and time again proven that humans are easily corrupted when in a position of power. They always end up abusing that power to their advantage.

#Bitcoin is incorruptible.

“The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”

- Satoshi Nakamoto

This applies to #CBDCs as well. You will be required to trust the government not to:

1) Debase

2) Surveil

3) Oppress

4) Discriminate

5) Confiscate

Choose wisely. Choose #Bitcoin.

#Money needs to be anchored to #energy to succeed.

There is no way around it. There needs to be a cost associated with producing more of it. Because If there isn't, more of it will be produced.

Like everything else, money has to abide by the laws of supply and demand.

In other words, as more of it is produced, its value (i.e. its purchasing power) decreases.

#Fiat money is backed by nothing and has a production cost equal to zero. It requires us to trust the central planners to not increase its supply and debase the currency. As history has shown, that contract has been broken on many occasions.

#Bitcoin is anchored to energy. It requires large capital expenditures to create more of it. It does not requires us to trust anyone to not debase it. Its total supply is fixed and cannot be changed.

Choose a monetary system that is predictable and linked to the physical world and reality.

Choose #Bitcoin.

#Money needs to have a cost of production in order to be effective at being a store of value over a long period of time. If the cost of producing money is negligible, its supply will eventually increase and its purchasing power will decrease.

#Fiat for example has a production cost that is close to zero. Its supply can be easily increased with a few key strokes on a computer. Fiat money is literally created out of thin air.

#Bitcoin on the other hand, is real world costly to produce. It requires a certain amount of capital expenditure, mainly in hardware and electricity. These costs anchor Bitcoin in the real world, similar to how producing more gold requires capital expenditure in physical mining equipment.

Bitcoin adds another layer to this cost of production. As more miners try to create more Bitcoin and as the technology and equipment required to mine it gets better and more efficient, the Bitcoin protocol adjusts to make it harder and harder to produce more Bitcoin.

Bitcoin is a commodity type of money similar to #Gold but better. Fiat is literally just paper.

Choose accordingly.

Some will state that #Bitcoin has not provided any value since its creation. These people are generally #Fiat #Keynesian brainwashed westerners that have never set foot in an underdeveloped country that's been ravaged by corruption and hyperinflation.

I say to them:

There is more to the world than the west.

Individuals in underdeveloped countries use it as a store of value AND as a medium of exchange.

There are over 1.7 billion unbanked people in this world and Bitcoin is a bank account for every single one of them.

1) It allows them to receive remittances from abroad instantly and at a fraction of the cost charged in TradFi.

2) It allows them to store value and protects them from hyperinflation and currency debasement.

3) It allows them to protect their hard earned savings from confiscation. In these type of countries political corruption and oppression are rampant and confiscation happens more than you think.

4) It allows them to trade digitally and globally over the internet in an efficient and reliable manner, something not possible without a bank account.

Go out and see the world for yourself and not through the mainstream media.

#Gold when not held physically is just another IOU with counterparty risk.

Maybe people are fed up and want to own an asset with no counterparty risk?

Maybe they want to own an asset that cannot be debased or confiscated?

Maybe they want to own an asset that does not put trust in a central governing authority to act honestly and responsibly?

An increase in #Bitcoin adoption makes total sense following the #SVBCollapse.

#Fed pivot or no pivot, what is happening in the banking sector is empowering the Bitcoin value proposition.

We cannot be truly free if our ability to transact is taken away from us.

#CBDCs are a direct attack on our freedom to transact. They will usher in a new age of surveillance, censorship and control.

They will be marketed as convenient and safe.

They will use AML / CFT / ESG narratives to instill fear in the masses.

As Bitcoiners we may not agree on everything.

But...

We all agree that #Bitcoin is the hardest money to have ever existed.

We all agree that the #Fiat debt based system is unfair, corrupt and unsustainable.

We all agree that we need to push back on #CBDCs.

Join us.

"The firms are not being bailed out. Depositors are being protected."

They will lie and manipulate the truth. Be critical of government officials, bankers and the mainstream media.

Ask yourself, where is this money coming from?

#Bitcoin does not lie, does not require trust, and does not have any counterparty risk.

The #SVB collapse is not the first nor the last failure of the fractional reserve banking system.

Most think we pay banks a fee to store and secure our wealth.

The reality:

We pay them a fee and they keep a fraction of the deposits on hand and speculate with the rest in financial assets.

- If that gamble is successful we don't share the profits.

- If that gamble is unsuccessful we absorb the loss and they get bailed out.

Opt-out of a system filled in with political favouritism.

Opt-into a trustless apolitical system that has no counterparty risk.

#Bitcoin.

You have to pay a fee to keep your #money with banks.

You'd think it would stop there but they are extremely greedy.

The reality is that banks keep a fraction of the money you deposit on hand as they rely on the majority of people not withdrawing their money at the same time.

They will use the rest to try and make even more money. They will invest in different financial instruments, some more exotic and complex than others. Basically, they are risking your hard earned money to turn a profit

This is what we call fractional reserve banking.

Opt-out of this system and be your own bank. Choose #Bitcoin.

Fiat fractional reserve banking is a legalized scam backed by the government and subsidized by the taxpayers.

1) You deposit your money.

2) The bank keeps a fraction of it onhand and engages in speculative activities with the rest of it.

3) The bank gamble doesn't pan out.

4) The government steps in and makes it whole by printing money to fill the gaps.

5) Money supply increases and as a result purchasing power is reduced for all holders of the currency.

In effect, the losses of the bank are nationalized and its profits are always privatized.

The system has time and time again failed us. It's about time we opt-out of the #Fiat ponzi.

We finally have an alternative: a #Bitcoin standard.

What happens when central banks issue more #money / print money out of thin air / increase the money supply?

Those who own assets, basically high net worth individuals, banks, large corporations and institutions will benefit from the increase in the money supply because their assets will increase in value. Why? Because, after increasing the supply of money there is more of it going after the same amount of goods. Printing money doesn't magically create more goods in an #economy!

Given these stakeholders ability to acquire #debt more easily as a result of their political connections they will receive the newly issued money faster and will be able to acquire assets at pre-inflated prices.

The salaried individuals will receive minimal increases to their salaries late in the game and as a result will only be able to acquire assets at post-inflated prices, making it near impossible to do so for most.

This is why the rich (i.e. those who have assets and are politically connected) keep getting richer and the poor (i.e. those who don't have assets and are not politically connected) keep getting poorer.

This phenomenon is called the Cantillon Effect.

The reality:

The system is rigged and is not a fair playing field.

Choose #Bitcoin. It actually fixes this problem.

Is this what you are looking for?

After a year of talking about it I managed to get my father to invest in #Bitcoin. He lives in #Lebanon, where hyperinflation has destroyed the purchasing power of the Lebanese Pound by 99%.

That in itself was an achievement given his traditional banking career and background. It felt good converting some of his political currency into the hardest #money in existence.

He understood the store of value aspect of Bitcoin and appreciated it as an investment asset. He pretty much viewed it as a new and improved version of gold and not really as a medium of exchange.

Until yesterday...

I asked him to download and log into the @walletofsatoshi application. After that, I called him and asked him to share his public lightning address. While I was explaining what lightning was I went ahead and sent him some sats. He was shocked that I was able to send him money instantaneously across the globe without a bank at almost no cost.

He might need a bit more convincing though.

How cool would it be if he randomly started receiving sats?

#Bitcoin community let's blow his mind!

hungryravioli29@walletofsatoshi.com

If #money had a fixed supply people would save more.

Knowing on a conscious or unconscious level that money can't be debased by a supply increase shifts our mindset to a low time preference one.

With #Bitcoin the value of that money would grow over time.

As demand for Bitcoin increases and its supply remains unchanged, its value increases.

As its value increases, all goods and services priced in Bitcoin would get cheaper over time.

Bring back savings and reduce debt.

Bring back financial freedom and reduce debt slavery.

Bring back security and reduce uncertainty.

Choose #Bitcoin.

What if governments, central banks, and the media turn out to be wrong about #Bitcoin?

What if more and more people wake up and realize that they are being lied to and stolen from?

What if Bitcoin does become the global monetary settlement layer?

Be rational. You owe it to yourself to at least explore this amazing innovation.

For the first time in history, we have the ability to seperate #money from the state.

Money is too important to be controlled by a small group of unelected officials. Choose #Bitcoin.

When central planners interfere with the money supply they distort the market, making it extremely difficult for businesses and individuals to allocate capital efficiently.

#Bitcoin fixes this.

So much unlearning needs to happen before most realize how valuable #Bitcoin is.

As early adopters we need to keep a low time preference mindset and slowly and patiently chip away at the ponzi fiat narratives until we break them.

A low time preference is a growth mindset.

Deferring consumption, pleasure, and gratification into the future turns us into a better version of ourselves.

#Bitcoin does the same.

The west will never fully appreciate the #Bitcoin value proposition over altcoins until they live through hyperinflation and an explicitly corrupt government.

The rulers of my country, #Lebanon, robbed and murdered their own people.

Through pain, we have learned.