The Bitcoin Revolution

Bitcoin Begins

Bitcoin was born in 2009 after one of the worst economic bubbles in the history of the United States burst. Politicians and bankers conspired to pass corrupt legislation and push unethical business practices that enabled greed, dishonesty, and purposefully complex investment vehicles that almost bankrupt the country. Virtually none of these criminals went to jail. These corrupt institutions were bailed out by crony politicians – paid for by US taxpayers who had done nothing wrong.

Occupy Wall Street, a 39 day protest by thousands of people against corrupt politicians and bankers, arose to bring attention to these misdeeds – but nothing changed. It accomplished literally nothing.

One person (or a small group of people), under the pseudonym Satoshi Nakamoto, wrote 30,000 lines of code and changed the world forever. In the genesis block of the Bitcoin source code lies their disgust for this corrupt system: 

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.” – Satoshi Nakamoto

Currency Inflation and Debasement

Inflation: A general increase in prices and fall in the purchasing value of money.

Debasement: The action or process of reducing the quality or value of something.

Central Banks print money like it’s their job…because it is their job. The Federal Reserve is a political group of unelected leaders which has never been, and will never be, audited.

One of the great ironies of the above photo is that even after all the cronyism that came to light during the bank bailouts, Janet Yellen (above picture) was able to rebound and find another job… now as President Biden’s Secretary of the Treasury. Remember, she’s ‘’strongly opposed to audit the Fed’’. Remember, she’s also taken millions of dollars in speaking fees from the very banks that caused the bubble – and now has even more power and influence. This is bad for the economy, but good for Bitcoin.

Janet Yellen has said she will use the Treasury to solve all of our problems. How?! Printing new money! Newly printed money has been used as a funding means for political programs, war, and enriching politicians, bankers, and lobbyists for decades, but the pace at which it is being printed is unprecedented. Almost 20% of ALL money ever printed was printed in 2020 alone. We are truly in new territory, and this experiment will end badly for those who don’t hold assets, are poor, or hoard cash.

Q: Why do hard earned US dollars become less valuable with time? 

A: Because central banks dilute the purchasing power by inflating the supply.

Many countries including (but not limited to) Venezuela, Argentina, and Zimbabwe have recently debased their nation’s currency to the point it is effectively worthless – destroying wealth, safety, and opportunity. Imagine how their citizens’ lives would change if these countries had the ability and infrastructure to opt out of their nation’s currency and into a free world economy. This accomplishes 2 things:

  1. Allows for each citizen to invest in a hedge against their region’s potential downfall.
  2. Works as a tool to limit the power of worldwide governments since there is an opt out: Plan B(itcoin).

Bitcoin is the most transparent, honest, fair, and hardest money ever conceived, and brings with it a clear constitution that you can choose to opt into or out of (Bitcoin White Paper – https://bitcoin.org/bitcoin.pdf).

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning” – Henry Ford

Is Bitcoin Money?

Bitcoin holds (and historically increases) its value because there is a capped supply – kinda like a digital version of gold. As Bitcoin grows in popularity and utility this scarcity makes the price go up. Some of the world’s best engineers and entrepreneurs are building applications on top of Bitcoin to make it more accessible and useful.

Digital Gold + FinTech Entrepreneurs = Upheaval of Legacy Finance and Transaction Networks

Frequently I hear the argument, “Bitcoin has no real world value!”. This can’t be further from the truth.

Bitcoin: Borderless, Global, and Cheap transactions

Bitcoin is not exclusive to any country or region. It lives on the internet so it is accessible to almost anyone with an internet connection. This means Bitcoin can be purchased, sold, held, or used as a means of transaction by almost anyone in the world – for a small fraction of the transaction fees offered by credit card companies, banks, and remittance agencies.

Bitcoin CAN’T be:

  1. Seized by corrupt governments…if stored properly.
  2. Stolen by home invaders or dishonest bankers…if stored properly.
  3. Stopped, edited, or reversed.

Bitcoin CAN be:

  1. Transported by travelers crossing borders.
  2. Stored and protected by nothing more than memorizing your mnemonic phrase, and recovered the next time you have an internet connection. 
  3. Sent around the world on the Bitcoin network cheaper than any other payment rail. If you send Bitcoin over the Lightning Network it can be sent to anyone in the world, cleared, and received in seconds for only pennies. This is truly revolutionary!

Hard assets are generally not easy to receive, send, or use in a transaction. Imagine how hard it would be to move your life savings if they were in gold or real estate! Both are great, scarce assets, but they are not easy to move or protect and are much easier to steal/seize compared to Bitcoin. Dollars can be easily confiscated by governments or taken by thieves – Bitcoin can not.

Peer to Peer Transactions

Bitcoin connects us in a way that has never been possible before, and removes the need for trusted 3rd parties, banks, and other financial intermediaries. This direct payment rail removes middlemen and passes the value on to the users. It also adds a layer of privacy that was previously impossible.

BYOB (Be Your Own Bank)

Bitcoin removes the need for banks. You’ll hear Bitcoiners say, “Be your own bank” or “Bank the unbanked”, but my favorite quote is from Barack Obama who was trying to cast aspersions at Bitcoin by saying “It’s like a Swiss Bank account in your pocket.”

CLOSE! 

Bitcoin is like having a SWISS BANK account in your pocket.

Bitcoin Security

The Bitcoin network has never been hacked and is protected by the most secure, globally distributed computer network ever. (Nice…GIF)

Do I need to write anything more than that?! I’ll also add that the Bitcoin network has been active for 99.99% of the time since its inception. (https://www.buybitcoinworldwide.com/bitcoin-uptime/)

Bitcoin Summary

Bitcoin is the greatest monetary experiment in human history. It is the convergence of historical value (gold) with alien technology.

Bitcoin’s first decade has seen it go from a fringe computer experiment to a geo-political force…and based on it’s trend, popularity, and potential it is only getting started.

The future won’t be left vs right, but centralized vs decentralized. You will want exposure to this monetary shift – and we’re here to help you get started.

If ALL of this didn’t convince you, check this 2 minute video out about why YOU should join the Bitcoin revolution.