Dollars, Gold, & Bitcoin / What is Money and Why Bitcoin Matters!
Did you know that the US dollar has lost 96% of its purchasing power since 1913 when central banking took over? The US dollar is currently experiencing even higher inflation or purchasing debasement due to the reckless and unaccountable money printing by politicians and central bankers. The purchasing power of the dollars we work so hard to obtain with blood sweat and tears are worth less and less every day.
The Federal Reserve has gone on the record to say that they are willing to print unlimited money. People are now searching for ways to hedge against inflation in order to protect their wealth from debasement and obtain financial freedom.
Satoshi Nakomoto created Bitcoin in 2009 to fix this monetary problem. Bitcoin makes it possible for people to send money from one person to another without a third party such as a bank or government. There will only ever be 21 million bitcoin and never any more.
Bitcoin was not designed to make you rich. Bitcoin was designed to make you FREE from a corrupt monetary system. However, massive amounts of wealth are often a side effect of being financially free.
“Bitcoin is the first and only money to perfectly pass the Five Critical Properties to Money.” ~Robert Breedlove (Economic Guru)
Let’s consider these five principles.
1) Bitcoin is perfectly DIVISIBLE. You can divide Bitcoin as small as necessary to purchase a candy bar or something else that is cheap. While Dollars are easily divisible, Gold is NOT as easily divisible. If an item is cheap, such as a candy bar, it is unlikely a person would try to shave gold dust off of a gold bar to pay for an item.
2) Bitcoin is perfectly DURABLE. It is estimated that a dollar bill can last up to 6 years before it falls apart and a new one must be made. Bitcoin can last forever as it is based on math and digital code that cannot be destroyed. Gold coins can even break or lose value from wear and tear.
3) Bitcoin is perfectly RECOGNIZABLE. Using blockchain technology, Bitcoin cannot be counterfeited ever. It is very easy to determine if a Bitcoin is real or not. Dollar bills are sometimes counterfeited where it is hard to tell if they are real or fake. Gold can be gold plated or mixed with other metals.
4) Bitcoin is perfectly PORTABLE. With a click of a button, you can send billions and billions of dollars worth of Bitcoin around the world at the speed of lightning without the need of a bank, government, or third party. This is absolutely revolutionary! Consider this, in order to move gold or even massive amounts of dollars around the world, you need security guards, a vault to store the gold or dollars, vehicles to transport the gold or dollars, etc. This is all very expensive.
5) Bitcoin is perfectly SCARCE. Gold has perceived scarcity. Gold is scarce but not fixed. Two-thirds of the gold supply has been mined since 1950. As the price of Gold goes up, people find new ways to mine it. Bitcoin has actual scarcity. It is the hardest, soundest money we have ever known. No technological breakthrough can change the supply of Bitcoin. There will never be more than 21 million Bitcoin.
Ready to buy some Bitcoin! In my opinion, the best and easiest way to do that is through Voyager, a publicly traded crypto exchange that gives you 6.25% APY on your Bitcoin.
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Bitcoin has the Strongest Network Effect and Is Here to Stay
Throughout history, the most tradeable thing in a place will become money.
1) In prisons, a highly bartered item is cigarettes. 2) In ancient Africa, glass beads were considered rare and valuable and traded as such. 3) People have used salt and cattle as money based on the technology of that day and age.
After considering the Five Critical Properties to Money, (Money must be Divisible, Durable, Recognizable, Portable, and Scarce) it is clear that Bitcoin is now our most tradeable money. BTC is more tradable than gold or US dollars.
Bitcoin is Gold 2.0
The market cap, all the value of Gold combined, is worth 10 Trillion Dollars. The market cap of Bitcoin is currently around 1 Trillion Dollars. When Bitcoin soon reaches the market cap of gold one Bitcoin would be worth $500,000 a coin or more!
The more you study Bitcoin, the more a person can confidently invest in it.
It is unlikely BTC will be replaced by another new cryptocurrency for the same reason Wikipedia, Google, or social networks like Facebook cannot be replaced. Once a network gets strong enough it takes deep roots into the fabric of humanity. Watch Andreas Antonopoulos’ lecture on why Bitcoin is the next Bitcoin for more information.
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The BEST strategy to financial freedom couldn't be more clear.
1) Dollar-cost average into Bitcoin. Buy a little bit of Bitcoin every day, week, or month. 2) Earn interest on your BTC (see link below) 3) HODL (Hold on For Dear Life) Think long-term with your investment.
Invest in Bitcoin!
1st Choice... Voyager! (US only) 🎉Earn 6.25% APY on your Bitcoin with Voyager 🎉 Voyager Promo Code: Download the app and buy $100 of BTC to get $25 free Bitcoin. Use code 1AE3C8 or this link to claim your BTC: (https://voyager.onelink.me/WNly/referral?af_sub5=1AE3C8)
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About the Author
Derek McCloud, M.Ed has a master’s degree in education which helps him simplify complex ideas like crypto and explain them in ways that the masses can understand. He is passionate about Bitcoin and crypto because it can provide financial freedom to those who invest wisely. He hopes that people who make massive amounts of money from crypto will help him have fresh water wells dug around the world for those in need by the year 2025. To learn more about crypto and joy, check out his youtube channel.
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*Nothing in this document should be considered financial advice. Do your own research. Only invest what you can afford to lose.
*Using referral links in this blog will offer you incentives as it also helps this blog stay alive.
*Robert Breedlove inspired many of the thoughts in this essay.
*Check out our store and buy some crypto merch to help spread sound money awareness to the world!