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#TheWorldGetsCheaper in #Bitcoin
#SaveInBitcoin with long time frame(min.5 years)
#BitcoinMakesSavingPopularAgain
https://www.pricedinbitcoin21.com/landing
#DCA #Bitcoin
Disciplined Bitcoin Saving Tip: Using Dollar Cost Averaging (DCA) helps cultivate a saving habit by consistently investing fixed sums. It's a smart way to grow wealth over time without the stress of timing the market. 📊💰 #PersonalFinance #Investing #DCA
This documentary traces the history of money back to ancient times and explains how the currencies we use today lost their tether to gold. If money is solely based on trust, can a fairer, more technologically advanced and decentralised alternative - Bitcoin challenge our financial, economical and even political power structures?
#Government money vs peoples money (bitcoin)
Why is bitcoin so special and unique? Find out:
https://m.youtube.com/watch?v=FXvQcuIb5rU&pp=ygUQc2FpZmVkZWFuIGFtbW91cw%3D%3D
One of the best bitcoin resources:
# Separation money and state
Bitcoin is unconfiscatable due to the features inherent resistant to seizure or confiscation by authorities or third parties. Here are the reasons why:
1. **Decentralization**: Bitcoin operates on a decentralized network of computers. This means that there is no central authority or institution that controls Bitcoin. This structure makes it difficult for any single entity, including governments, to seize Bitcoin holdings without private key access.
2. **Cryptography and Private Keys**: Bitcoin balances are secured with cryptographic keys. A user's Bitcoin balance is associated with a public key, but can only be accessed and controlled by the person who has the corresponding private key. Without this private key, the funds are essentially inaccessible. A private key is like a very complex password that is only known to the owner of the Bitcoin. As long as someone keeps their private key safe and does not reveal it to anyone, their Bitcoin holdings cannot be confiscated through the Bitcoin network.
3. **Borderless**: Bitcoin is digital and can be accessed from anywhere in the world as long as one has internet access and their private key. This means it does not have a physical form that can be easily seized, and it's not tied to the jurisdiction of any single country.
Why is unconfiscatability important for money?
1. **Protection from Arbitrary Seizure**: In some countries, governments have a history of arbitrarily seizing assets from citizens for various reasons. Having an unconfiscatable form of money offers a way for individuals to protect their wealth from such actions.
2. **Financial Sovereignty**: Being able to control one’s own wealth is a form of empowerment. It gives individuals the ability to have more control over their financial future without relying on banks or governments, which might be unreliable or corrupt.
3. **Preservation of Wealth**: In times of economic crisis, governments might resort to extreme measures such as confiscating citizen’s savings (as happened in Cyprus in 2013). Having a form of money that is unconfiscatable allows people to safeguard their wealth against such measures.
Why Bitcoin instead of euro's or dollars:
Bitcoin is designed to have a limited supply, which is one of its defining features. This scarcity is ingrained into Bitcoin's protocol and is governed by several factors:
1. **21 Million Cap**: The total number of bitcoins that will ever exist is capped at 21 million. This limit was set by Bitcoin's creator, Satoshi Nakamoto, and is coded into the Bitcoin software. The limit is designed to mimic the supply curve of precious metals like gold, which also have a finite supply.
2. **Block Rewards and Halving Events**: When Bitcoin was first launched in 2009, miners were rewarded with 50 bitcoins for every block they mined. This reward is essentially the mechanism through which new bitcoins are created. However, approximately every four years, this block reward is halved. This event is known as a "halving." In 2012, the reward was reduced to 25 bitcoins, and it continued to halve in subsequent years. As of my last knowledge update in September 2021, the most recent halving occurred in May 2020, when the block reward was reduced to 6.25 bitcoins. This process will continue until the maximum supply of 21 million bitcoins is reached, which is expected to happen around the year 2140.
3. **Difficulty Adjustments**: Bitcoin's protocol adjusts the difficulty of mining to ensure that blocks are added to the blockchain approximately every 10 minutes. If more miners join the network and the hash rate increases, the difficulty of solving the mathematical problem will also increase, making it harder to mine bitcoins. This mechanism ensures that bitcoins are not mined too quickly as the network grows.
4. **Loss of Bitcoins**: Some bitcoins are lost forever due to reasons such as lost private keys or deliberate burning of coins. This reduces the effective supply of bitcoins available.
5. **Holding Behavior (HODLing)**: Many individuals and entities choose to hold onto their bitcoins as a long-term investment, based on the belief that their value will increase over time due to its scarcity. This reduces the number of bitcoins actively circulating in the market.
The scarcity of Bitcoin is an essential factor contributing to its value, similar to precious metals. By having a finite supply, Bitcoin is designed to be resistant to inflation, in contrast to fiat currencies which can be printed in unlimited quantities by governments. This scarcity has played a role in Bitcoin's price increases over time, as demand has continued to grow while supply remains limited.
