Why Bitcoin?

wiz
wiz
Jul 16 · 11 min read
Exchange rates of fiat currencies compared: (100,000 Venezuelan Bolivar for 1 USD) and (20,000 USD for 1 Bitcoin)

What is financial self-sovereignty?

Why did we stop using the gold standard?

Executive Order 6102
Executive Order 6102
“Deliver all your gold to our vaults in exchange for worthless paper, or we will use violence against you.”

What’s wrong with fiat currency and central banks?

How can people steal my money if it’s in a bank?

Banks can issue an infinite amount of fiat currency, either by printing or using a digital database.
Governments absolutely can and will steal your fiat currency

How do people use my financial data against me?

How do people control who I transact with?

How do we get back our financial self-sovereignty?

Combining digital signatures, a distributed ledger, and a peer-to-peer network, Bitcoin was born.

How does Bitcoin work?

So then, Why Bitcoin?

Because Bitcoin respects individuals’ security, privacy, and freedom.


How is Bitcoin better than the fiat currency system?

✅ Security against inflation by using a fixed supply
✅ Security against seizure by using keys to control funds
✅ Privacy of payments by using pseudonymous identities
✅ Freedom against censorship by using a peer to peer network

How does Bitcoin protect against Inflation?

How does Bitcoin protect against Seizure?

How does Bitcoin protect Privacy?

How does Bitcoin protect against Censorship?

Centralization bad. Decentralization good. Distributed peer-to-peer best.

What will government and banks do about Bitcoin?

Trump says Bitcoin isn’t money and warn its value is highly volatile.
European Central Bank says Bitcoin is not a currency and warns it is very volatile.

Is the value of Bitcoin volatile?

Is Bitcoin Money?

Bitcoin as a Store of Value

Bitcoin as a Medium of Exchange

Bitcoin as a Unit of Account

Bitcoin as a System of Control

What about “The Next Bitcoin” ?

In closing

How do I get started using Bitcoin?

wiz

Written by

wiz

Bitcoin Wizard

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade