As I study #Bitcoin    and develop a better understanding of how it works
My allocation to #BTC    increases.
So many of the arguments against Bitcoin make ZERO SENSE.
You need to understand that, before something becomes a medium of exchange, it must first be used as a store of value.
Most shitcoins are trying to skip the store of value stage and jump straight to being a medium of exchange.
The "security budget" argument is just as stupid as any other.
We will see nation-states mining Bitcoin at nearly 0 cost because they can tax you.
They will use their monopoly on violence to take over energy sources or they will take your money and buy energy from someone else.
This may not happen for at least a few years or even decades though... governments move slow.
For example, the US and Chinese government own 2 of the largest stashes of BTC and they don't trust each other.
Do you think they're going to let the other country take control of a global financial network... to avoid taking a small loss?
If you do, please let me know and maybe I can look at this with a different lens.
#Bitcoin becomes more scarce every day.
The people accumulating #BTC today are expecting to sell at MUCH higher prices, or never sell at all.
A lot of these coins are being locked away for 5+ years.
The European Central Bank REALLY cares about you
Stop complaining about rising prices
The Euro ISN'T a fraud because your savings are SUPPOSED to lose value
The Euro has lost 50% of its purchasing power in the last 20 years
You'll have to work until the day you die if you rely on fiat currencies, but that's not the ECB's fault - it's YOUR fault for not putting in extra hours at work!
The value of your house has not increased
The utility of having a roof over your head does not change over time
What DID change over the last few years was the value of the money that you use to value the house
As your money loses value, the price of a house goes up
If you use fake money, your cost of living will go up forever
#Bitcoin fixes this
#BTC    isn't $1M yet because:
#1: A fraction of people live below their means
#2: A fraction of people from #1 have studied money
#3: A fraction of the people from #2 have put in over 1,000 hours studying how #Bitcoin works
If you can't trust her with your #Bitcoin, you shouldn't be marrying her
"I can't buy food with my stocks so they're not valuable"
- said no one ever
But for some reason people regularly "I can't buy food with #Bitcoin so it's not valuable"
The current banking system was intentionally designed to keep the average person busy and poor.
It has stolen trillions of dollars of value from society. This number will continue to grow as long as the system survives.
Most people don't know that their savings are being stolen from them.
They're so preoccupied with making money to survive, that they don't have time to deal with learning how money works to keep what they worked for.
#Bitcoin fixes this.
When you own #BTC, you're saving.
Bitcoin is baselayer money that directly competes with US Dollars.
US Dollars punish holders for saving.
Using US Dollars as money requires that you are financially literate.
You have to be willing to take risks, buy stocks and real estate, and dedicate your precious hours to learning how the rules of money change over time.
With Bitcoin, all you need to know is how to keep your coins safe.
Study Bitcoin!
Inflation is so difficult to understand and explain because rising prices has been normalized.
Some people have even convinced themselves (and try to convince others) that having 2% of their buying power stolen every year is a GOOD THING.
"What if I keep saving my whole life, and suddenly die before 65?"
What if you don't?
The probability that you will be alive at the age of 65 is ~80%.
Common misconception:
"#Bitcoin    is a bubble."
In reality, everything is just decreasing in value in terms of bitcoin.
Bitcoin is scarce, while everything else is abundant.
People ignore technology until they can't anymore.
- The internet
- Cell phones
- E-commerce
The same will happen with #bitcoin
This is a matter of WHEN, not IF
Blackrock's #Bitcoin       ETF now holds 122,643 #BTC      , up 2,962 from Friday.
Their total holdings are now worth $6.3 BILLION.
Blackrock now holds 0.584% of the total supply of BTC.
900 BTC are issued per day. In April this will drop to 450.
Yesterday, Blackrock clients bought 3.3x the newly issued supply.
To save in #Bitcoin   , you need a MINUMUM 4-year time horizon.
Right now, the price of #btc    (the currency used on the Bitcoin network) is volatile in terms of all assets and fiat currencies because it's not yet widely used as money.
Keep in mind that more countries and businesses are adopting it over time.
Two months from now, 1 BTC may be worth a lot less than it is today.
In 10 years, the purchasing power will very likely increase because:
1) The supply is fixed at 21,000,000 BTC.
2) The amount being issued will decrease by 50% every 4 years until ~2140 (the next "halving" is in April 2024).
3) 93.6% (~19,600,000 BTC) of the total supply has already been issued, and a lot of it is locked away in cold storage.
4) A huge chunk of the issued supply of BTC is likely lost forever (people have lost the keys to their wallets or the wallet was damaged somehow and they didn't have a backup of the seed phrase). The lost supply is estimated to be around 4,000,000 coins.
5) Bitcoin adoption will increase over time. This will lead to an increase in demand. Increased demand + decreased supply = price is forced to go up.
Bitcoin and BTC provide the following benefits:
1) The network is censorship-resistant. This is so valuable because the current world reserve currency CAN be censored. US sanctions on Russia have destroyed the trust the world had in the US Dollar. Any country that has problems with the US is in danger of losing its reserves.
2) Bitcoin is decentralized. Nobody controls Bitcoin. Nobody CAN control Bitcoin. Bitcoin is software that runs on computers spread around the world. It's simply a ledger of transactions. A record of who owns what. That record can't be changed because there are now over 100,000 computers running the Bitcoin software. These computers are confirming the validity of the ledger. You can shut down 1 or 2 or 10 or 100 or 1,000, but try shutting down every single one of them, because the locations of more than most of them is unknown.
3) Bitcoin is a form of secure base-layer money and is comparable to the SWIFT system the world currently uses. Fees on BTC transactions are considered high, but it's important to consider that Bitcoin transactions provide final settlement. When compared to SWIFT, the transactions are NOT expensive... But they ARE much faster (30 mins to 1 hour vs 3 to 5 business days. These networks are used for LARGE transactions. The lightning network is a layer two solution (it runs "off-chain" using a new network of payment channels) and is built for SMALL transactions. Transactions cost 0.00000001 Bitcoin (1 Satoshi, or a fraction of a penny today) and take 1 second to complete. The lightning network may require trust in a third party, so it's not as secure as "on-chain" transactions. The fees reflect this.
4) Bitcoin can be traded 24/7. Half of the world doesn't have to stand still because it's outside of banking hours in the US.
5) The entire world can use Bitcoin to store value, instead of just those who have access to a stable banking system. You may say "I would rather invest in stocks," but you need to realize... most of the world can't buy US stocks, but most of the world can buy Bitcoin.
6) Bitcoin is secure. In the 14 years that Bitcoin software has been running, the network hasn't seen a single exploit (exploits are always at exchanges or on hot wallets that are always connected to the internet).
Take the time to learn about Bitcoin.
You won't be disappointed!
People think the US debt will increase linearly.
But debt doesn't grow linearly... it grows exponentially.
The US took over 200 years to reach $34 trillion in debt.
I wouldn't be surprised if it takes 15 years or less to get to $68 trillion.
HAVING money doesn't mean you're GOOD with money.
Some of the richest people have gone broke because they weren't financially literate.
Inflation is the root cause of just about every economic problem we have today.
If you're saving as much as you can today, inflation will make you broke in 30 years.
What will that do to you as a person?
It will make you feel like you are the problem.
It will make you think your efforts were not adequate.
It will make you feel like the companies raising prices are the ones making you broke.
It will make you miserable, and it will make you hate life.
The reality is that your government is taking your money and gaslighting you into believing that they are not to blame.
They are funding wars by extracting value from everyone's savings.
Stop falling for it.
Opt out of the old system.
Study #Bitcoin
You don't hate capitalism.
You hate fiat currencies, which are a big reason for:
- Unlimited money printing
- Price inflation
- Bailouts
- Reckless government spending
- Wealth gaps
#Bitcoin    fixes this
Bitcoin is true capitalism - no printing, nobody is too big to fail.
You succeed and get paid based on merit on a Bitcoin standard, not by being a rent-seeker.
The hardest part of understanding #Bitcoin    is challenging your assumptions about the old system.
The first thing you need to understand:
"Passive income" from stocks and real estate is NOT PASSIVE.
The next #Bitcoin    halving is in about 60 days and most people have no idea what that even means...
We will very likely see an all-time high for #BTC    in terms of USD in 2024 because of this.