Bitcoin Is Already Changing the Daily Lives of Millions of People All Around the World
Bitcoin phenomenally ended the year 2020 with a Bull Run that demonstrated to as many people as possible that the target of $100K by the end of 2021 was not an illusion.
When I say today that I am expecting the Bitcoin price to be 100K at the end of 2021, some Bitcoiners even end up accusing me of conservatism now. Of course, they do this to tease me, but I have to say that I also end up thinking that the price of Bitcoin will end the year 2021 even higher.
All these figures seem to make some people dizzy and they forget that Bitcoin is much more than a financial investment. While Bitcoin price has increased dramatically since 2010, from $0.05 to $35K at the time of writing, Bitcoin is really not about money.
As you read this, you’ll wonder what the hell I’m talking about.
If you’ve ever bought Bitcoin, and I’m sure you have if you read my articles frequently, you must have noticed that the fiat money that you put safely into the Bitcoin network keeps increasing in value in U.S. dollars over time.
Bitcoin, therefore, seems to you to be about money since it is the best investment available to protect you from the great monetary inflation that we are currently experiencing and that will continue to intensify in the coming months.
Bitcoin is not an investment, but the best savings technology in the world
First of all, you must understand that Bitcoin’s value is increasing as much for its extraordinary qualities as for the increasingly evident weakness of the U.S. dollar. The world’s reserve currency continues to lose value, which only reinforces the value in U.S. dollars of the world’s best money, Bitcoin.
Nevertheless, you must stop seeing Bitcoin as a financial investment. Bitcoin is first and foremost a savings technology. Bitcoin is even the best savings technology in the world. You place in the Bitcoin network the fiat money that you wish to protect from the ravages of monetary inflation.
If you are patient enough, you will be greatly rewarded because your wealth will be protected. It will be protected from monetary inflation but also any kind of censorship against you. No one will be able to arbitrarily take your hard-earned money from you. No one will be able to stop you from using your hard-earned money as you want.
So Bitcoin gives you power. With Bitcoin, you are free to send, receive, and keep your money. You are in total control. The government cannot force you to spend your BTC, nor can it steal from you by making the value of your BTC fall through monetary inflation.
Westerners find it difficult to understand that Bitcoin is first and foremost about power
Bitcoin is not about money, Bitcoin is about power.
If you live in the United States, Canada, or Europe, you must have a hard time realizing this at first glance. You feel that you can use your fiat money whenever you want. You may have already had problems with your bank, it’s even a certainty because these problems are so frequent, but you tell yourself that it’s nothing serious.
You keep wondering why some Bitcoiners like me keep telling you that Bitcoin changes daily lives. I don’t blame you, because, in the past, I too may have had my own biased view of the world just like you.
As Westerners, we are generally privileged. We live in countries under democratic regimes and strong economics. Democracy is not perfect, but we do not face the same risks from our governments as people living in Iran, Venezuela, or Zimbabwe.
We have easy access to the banking system. When I talk about banking inclusion, it sounds far-fetched to you. Yet hundreds of millions of people living on the African continent are excluded from the current banking system. These people have no hope with the current system. Bitcoin is their only hope for banking inclusion right now.
This monetary and financial system is totally unfair to the majority of the people on Earth. But the powerful people at its head will do nothing to change it because they are among the 1% who benefit the most from it.
You have to look at emerging countries or countries under authoritarian regimes to see the incredible impact of Bitcoin
If you make the effort to look outside the Western world, you will quickly see why Bitcoin is changing the daily lives of millions of people. You will come to the same conclusion as me: Bitcoin is already a Plan A for millions of people.
Bitcoin protects the citizens of Venezuela, Iran, Lebanon, Zimbabwe, or Argentina from the ravages of monetary inflation caused by totally incompetent, but worst of all, corrupt leaders. These countries where Bitcoin changes lives have in common that they are under authoritarian regimes or totally corrupt.
By buying Bitcoin, and then becoming a Bitcoin HODLER of last resort, you allow Bitcoin to become more and more valuable. You allow the Bitcoin positive Feedback Loop to continue its cycle. This attracts more and more users, which supports the network, which is also still usable by those millions of people who need it in their daily lives.
Bitcoin has the extraordinary power to reconcile individual interests with those of the collective. By owning Bitcoin, you protect your wealth, but you also defend the scarcity of Bitcoin, which makes it more valuable and indirectly helps the people who use it daily in these emerging countries.
Bitcoin protects a pro-democracy movement in Nigeria
Nigeria is one of the countries where Bitcoin is the most used for daily life. In October 2020, protests arose in Nigeria in response to police brutality. During this period of great turbulence, the End SARS movement was born in Nigeria.
This movement aimed to abolish the Special Anti-Robbery Squad (SARS), a subdivision of the police force with a track record of abusing and harassing citizens.
The bank account of the feminist coalition behind this movement was quickly closed by the Nigerian authorities. This is a classic tactic of the authoritarian powers. By confiscating an organization’s funds, the government hopes to end the protest, even if it is peaceful.
To continue its fight for justice, this feminist coalition had no choice but to turn to Bitcoin. Thanks to the Bitcoin network, based on the open-source BTCPay Server solution, the democracy movement has been able to continue raising thousands of dollars in Bitcoin.
Jack Dorsey, the founder of Twitter and Square, even made a support tweet in October 2020 to relay their struggle that has been able to continue to survive only thanks to Bitcoin.
Bitcoin helps Hong Kong citizens to fight for human rights
As you know, China has been trying to completely regain control of Hong Kong for several years now. The central power in Beijing has been acting against the organizations in Hong Kong that defend human rights.
To be able to continue their fight for freedom, these organizations are turning one after another to Bitcoin. Just as the feminist coalition in Nigeria used the BTCPay Server solution to raise funds in Bitcoin, the Hong Kong Free Press association was forced to make this choice.
Freedom of the press can be preserved thanks to Bitcoin. Thousands of people can continue the fight without fear of having their fiat money totally confiscated. A decentralized system such as Bitcoin is essential for people living under authoritarian regimes.
Activists around the world are turning to Bitcoin so that they can continue to fund their activities without fear of censorship from the powerful people they are fighting. Bitcoin is a unique weapon to help promote the freedoms of all kinds around the world.
Mass adoption of Bitcoin as an MoE will start in Africa
In the coming years, the mass adoption of Bitcoin as a Means of Exchange (MoE) will primarily occur on the African continent. Again I return to Nigeria, but it is an obligation because Bitcoin is vital to thousands of people there. Nigeria is the second-largest country in the world, just behind the United States, in terms of P2P Bitcoin trading volumes.
The weakness of the local currency, the naira, as well as the difficulty in obtaining the U.S. dollar, push companies and citizens to rely more and more on Bitcoin.
In the face of the shortage of U.S. dollars in Nigeria, Bitcoin is being used by companies as a means of settling payments for international transactions. The citizens of Nigeria also see Bitcoin as a good way to escape the weakness of the naira by protecting themselves against the inflation of their national currency.
More and more people in Africa are turning to Bitcoin as the best solution for transferring money across borders quickly and securely. In Venezuela or Argentina, thousands of people are turning to Bitcoin to escape the ravages of monetary hyperinflation.
All these people need Bitcoin to survive daily.
When you buy Bitcoin from your country in the West, I think it is essential that you keep all of this in mind. The Bitcoin revolution is about more than another financial investment. Far too many people still find it difficult to see all this. By constantly talking about numbers, new entrants forget the real importance of Bitcoin in building a better world of the future for as many people as possible.
With this article, I hope I have helped you keep in mind that Bitcoin is essential for your future regarding money, but also for the future of millions of people around the world for whom Bitcoin is already a Plan A.