Bitcoin Responds to the 4 Biggest Problems That Millions of People Are Experiencing Right Now
Against all odds, ignoring all the announcements of its impending death, Bitcoin has continued its journey since January 3, 2009. If everything seems to accelerate in 2020 because of the coronavirus pandemic and the economic crisis that it has triggered, Bitcoin continues to advance at its own pace.
Bitcoin is evolving at the pace at which it must evolve to guarantee the security of the wealth that all its users have placed within its network.
It is clearly no coincidence that Bitcoin has never been hacked since its inception. It is because Bitcoin is evolving slowly but surely. The financial stakes are colossal since its market cap is more than 240 billion dollars at the time of writing.
The slightest bug introduced in the Bitcoin network could endanger several tens of billions of dollars, but even worse, all the hopes of millions of people in a system that will change the world of the future when it comes to money.
Former Bitcoin opponents open their eyes
For those who have been convinced Bitcoiners for several years, even institutional investors, big companies, PayPal, and soon banks to come into the Bitcoin world is something quite tasty.
All these former opponents of Bitcoin are opening their eyes one after the other. Some of them are still hesitating and struggling to admit that they were wrong about Bitcoin. Admitting one’s mistakes is something that is not given to everyone.
Some will never do it. I think for example of Warren Buffett who called Bitcoin “Rat poison squared” and who will probably never be able to step back and see that he was totally wrong.
The more time passes, the more these former opponents will realize that they are now the ones who need Bitcoin. Bitcoin does not need PayPal, it is PayPal that understands that it will need Bitcoin in the years to come.
The revolution will take everything in its path. Better to be on board the revolution train when it passes.
The success of Bitcoin is logical because it addresses four major problems
If Bitcoin is a huge success, it is above all because it addresses the four biggest problems that hundreds of millions of people are currently facing. In the future, these problems will only intensify, which naturally explains why the demand for Bitcoin will increase exponentially.
The current monetary and financial system is suffering from seven capital sins that will cause its loss. It is only a matter of time in my opinion. Even the International Monetary Fund (IMF) has understood this. It is now calling for a Great Reset through a new Bretton Woods.
The only thing that the IMF has not yet realized is that the Great Reset has already started on January 3, 2009, when Bitcoin was officially launched. In time, the IMF will come to understand this.
The original sin of the present system is the absolute power given to central banks regarding monetary creation. A few technocrats who are not representative of the people are thus able to increase the money supply in circulation whenever they want with a simple snap of the finger.
The endless inflation of the U.S. dollar inevitably impoverishes us all overtime
The Fed has thus increased the M2 Money Stock by more than $3,500 billion since March 2020. In total, all of the world’s major central banks have printed more than $12,000 billion out of thin air since March 2020.
It’s a dizzying figure, but there is more serious. What is even more serious is that all this printed money has remained in the hands of the richest 1%. American billionaires have seen their wealth increase by $1T since March 2020.
Meanwhile, people continue to suffer martyrdom from the consequences of the injustice of the current system. What is happening now is nothing new since it was described as early as the 18th century by the economist Richard Cantillon in a book that gave the name of Cantillon Effect to the phenomenon we are observing today.
This endless inflation of the U.S. dollar and other fiat currencies has disastrous effects for the people who have to accept without being able to react that they will inevitably become poorer over time.
Bitcoin responds to this first problem with a monetary policy that protects its users:
- There will never be more than 21 million BTC put into circulation.
- Inflation in the supply of new Bitcoins is steadily decreasing over time to reach zero in 2140.
By buying 1 Bitcoin, you are therefore guaranteed that it will still represent 1 Bitcoin out of 21 million BTC in 10, 20, or 50 years. This is something that changes everything and explains why the number of Bitcoin users has just surpassed the 100 million mark.
Bitcoin does not depend on the arbitrariness of a human leader
After creating Bitcoin, Satoshi Nakamoto made a historic decision: he decided to offer his invention to all the inhabitants of the Earth as a magnificent gift.
It is then up to Bitcoin users to make it a success or not. So far, we can say that Bitcoin users have seized their chance. The absence of a leader at the head of Bitcoin is essential. It ensures that each Bitcoin user has the same weight as another.
Bitcoin is a true democracy. Bitcoin belongs to the people, and that is why I often repeat that Bitcoin is the money of the people supported by the people.
Bitcoin’s monetary policy is programmatic. It is written in its source code that runs all over the world on the Bitcoin network nodes. No human has the power to change Bitcoin’s monetary policy arbitrarily.
This is again a fundamental difference from the current system where central bankers have all the power to create money. Governments have such power in the management of public debt.
Unfortunately, they have also chosen the path of an endless increase in public debt. The fact that this endangers the future of the new generations does not matter. All they are thinking about is the short term and the next election they hope to win.
People no longer have trust in their governments
De facto, the people have less and less confidence in their rulers. Abstention rates are exploding around the world. With Bitcoin, this problem of trust is solved. Bitcoin brings the world into the age of mathematically based currency.
You will no longer be at the mercy of arbitrary and corrupt human beings with Bitcoin.
This corruption to which humans always end up giving in explains why we cannot trust the current banking system. It has been designed in an opaque manner. For things to work properly, we would have to be able to blindly trust the bankers.
Unfortunately, history has shown us that this is impossible. The money laundering scandals that follow one another month after month and that affect the world’s major banks will finally convince you of what I have just told you.
Worse still, bankers or governments have every power to confiscate your money under the current system. Your transactions can also be censored for totally arbitrary reasons once again.
So your wealth is not safe.
Bitcoin gives you full control
What is the point of working hard if you cannot save because of the devastating effects of inflation and if your money can be confiscated or blocked at any time?
Bitcoin helps you meet this need that will continue to grow in the years to come: to protect your wealth over time in a way that is resistant to censorship. As long as you have the private keys associated with your Bitcoins in your possession, no one can confiscate them from you.
Those who continue to defend gold in place of Bitcoin should go back to their history books. There they would see the Executive Order 6102 signed on April 5, 1933, by U.S. President Franklin D. Roosevelt as part of his New Deal policy.
In the midst of the Great Depression, the government demanded by this law the return of a large part of the gold held by private individuals.
Buying gold in 2020 is taking a real risk. Personally, I don’t want to take that risk, and that’s why I think Bitcoin is a much better store of value than gold.
Bitcoin is the best cross-border money transfer solution
Bitcoin was created by Satoshi Nakamoto as a decentralized electronic payment system. There is so much talk about Bitcoin’s other incredible advantages that one almost tends to forget that Bitcoin is still the best solution for transferring money halfway around the world.
In just a few minutes you can send very large amounts for very low transaction fees. Eliminating trusted third parties allows Bitcoin to offer you this incredible advantage.
On October 26, 2020, a transaction of 88,857 BTC was completed on Bitcoin. With a Bitcoin price of $13K at that time, this represented the equivalent of $1,155,141,000 transferred in a few minutes for transaction fees of just $3.
Besides, Bitcoin works continuously. Since its creation, Bitcoin has an uptime of 99.985%, which has nothing to envy to those of Web giants such as Google or Facebook.
This means that you no longer have to wait a business day to transfer money to a friend on the other side of the world.
Incredible as it may seem, Bitcoin’s current success is just the beginning. We are still at the very beginning of the Bitcoin revolution. In the years to come, the success of Bitcoin will be even greater.
Many will be amazed to see Bitcoin with a price beyond $100K and then $500K. However, this will not be surprising. Indeed, Bitcoin addresses the four biggest problems facing hundreds of millions of people around the world today.
Under these conditions, its adoption will literally explode, which will affect its price. Those who choose to be part of its revolution as soon as possible will naturally be the most rewarded.