Cryptocurrency is in fashion today. I have no agenda here but I will explain here today why you must embrace this technology.
Do you really think the money in the bank belongs to you? Hint: Ask Cyprus
Do you really think money can swiftly move around the world? Hint: SWIFT
Do you really think your money have inherent vale? Hint: QE 1,2,3,4
Do you really think no one can touch your money? Hint: Asset seizure
If your bank were to collapse tomorrow, you would become a creditor to the bank. Currency movement is controlled by centralized system like SWIFT. I like to say that central bankers are the most powerful people in this world. They can print billions and billions within seconds. Any government in this world can use a court order to seize your assets, unless of course your asset is on the Caymen Island, and that would just require a little more effort on their part.
Blockchain, and Bitcoin are different. You own whatever you own. It is global, decentralized and leaderless. No one can impose or try to seize your asset. Not Donald Trump, not the court, not even central bankers.
There is no downtime, it has been working for 365/24/7 since its inception. There have been ongoing discussion regarding the slow transaction time and ‘high transaction’ fees that blockchain entails. Those are real issues but the beauty about blockchain is that everyone has skin in the game.
Miners want to earn money, developers want the blockchain to increase in value and users want ease, convenience and safety. That is the most reassuring thought when you invest in blockchain technology, or bitcoin. Everyone wants it to succeed and the their interests are mostly aligned.
Imagine any FIAT currency, the “top guy” in the central might decide that somehow according to his economic forecasting model, it is prudent to depreciate or appreciate your note, and you cannot do anything about it. That is frankly a travesty.
I am not saying that bitcoin or blockchain will increase in value incessantly, but i am saying that the value proposition of blockchain is too compelling to give up. Bitcoin has been described as a “ponzi scheme”, “fud” and “conspiracy”. It has no leader, it is by definition leaderless, it is antifragile.
The most powerful movement in the world is one without a leader. A leader, by definition, is and can become fallible. A decentralised movement is the most powerful movement ever because it is antifragile. Just look at the anti-Vietnam war movement.
That being said, this is a great chance to invest in bitcoin or blockchain technology. Do your own research, trust you own gut feel and get into it. Play around with the private wallets and storage. Always remember to backup your files and private keys.
Food for thought:
Once you own your first Bitcoin, you will finally understand how truly liberalizing it is.
Once you own your first Bitcoin, you will finally understand how truly liberalizing it is.
