Why Bitcoin

Why bitcoin many ask, what is bitcoin, isn’t bitcoin a scam? These are the many questions that follow the mentioning of bitcoin. If you are starting out and want to know some basic information on bitcoin, I hope this write up helps. Bitcoin is the best and most proficient means of money to have ever graced this earth. Fiat money, our current monetary policy, is the worst and most determinantal policy to have ever existed. Bitcoin is great for a million reasons; however, we will be discussing the main contributors and proponents as to why bitcoin is valuable. But to understand why bitcoin is necessary we must understand the reasons why our current system is a failure.

What is the federal reserve? In 1913 the federal reserve was created by the elite few of America, almost seen as the deep state. This meeting was held in secret, and its members included JP Morgan and John D Rockefeller and a few other titans of industry. Its purpose was to find a way to control the monetary system and ways to navigate its often-uncertain paths. However, since its creation, the federal reserve has grown more and more involved within the average Americans’ life, yet 99% of Americans can’t even tell you what it is. The main goal of the FED has been to control and manipulate the fiscal situation of the country, usually by manipulating interest rates or the outflow of newly created dollars. However, the FED’ s power, up until the 70s, was limited by the gold standard. This meant that Americas could take any dollar note and the Government would accept its value in gold and hand over to you bullion. But in 1971 Nixon got rid of the gold standard and entered us into the fiat system. This meant that our dollars had absolutely no value, but what the government said they did. It meant the FED could now print more dollars at any moments notice, whilst not having to back it up by anything such as gold. This was a problem, as previously the fed could only print what they had in gold to back up the newly printed dollars. So why in the hell would anyone want to trust the government with the power of money. They ultimately monopolized the money system, forcing us to use what they deem is valuable. The government has never in the history of man had such power over its subjects. They could deface and destroy the dollar at any moment they wished. And since 1971 this fiat system has been bound to collapse, it has far outlived its short life span, that is until 2008 and 2020 happened.

America used to be a somewhat fiscally responsible country whose politicians has a basic understanding of monetary policy. However, politicians now and days can’t even tell you basic economic concepts, nor do they care to protect its citizens from stupid and moronic policies. This is ever so evident when the US national debt is due to surpass the US economy. How is that even possible? How can a country let that happen? It because our politicians don’t give a crap about monetary policy, nor are they smart enough to even comprehend such basic principles. Let’s take AOC or Bernie sanders as an example, if you were to go up and ask them if the dollar was backed by anything what do you think they would say. Most likely; “I have no clue”. I highly doubt either politician has ever even thought of such a thing. It’s a very sad sight to see, because both Republicans and Democrats have been utterly lost regarding monetary policy. Democrats wish to spend and spend with no real plan as of how to pay for such legislation. Sure, they want to tax the rich, which causes stagnation and decay in the economy, but it is the rich who help grow businesses by investing and using their capital for such purposes. Without Jeff Bezos would amazon and its millions of jobs exist, or Steve jobs who also created thousands of jobs. Democrats have no concept of economics or the importance of sound money, all they wish to do is “help the disparaged” and those who have been hurt by legislation. Yet, it was their economic policies that caused them in the first place! If not for welfare, black families would still be together. Democrats wish to give things to those who don’t have, but their plan for doing so is stealing from those who do. This type of behavior is detrimental to the poor as it encourages them to stay poor. Why would someone go and get work and advance themselves economically if they can vote in democrats who will pay them $1,000 dollars a month on welfare. “Give a man a fish, and you feed him for a day, teach a man to fish and he will eat for a lifetime”. This is the exact quote that sums it up. However, republicans are no different, they have succumbed to the weak and idiotic democratic propositions, but only at a lesser rate. Both parties have failed the American people one just wishes to hurt the people more than the others. (Vote libertarian and all these problems go away😉.

The reason I mention these things is because we are facing possibly detrimental actions from lawmakers and government officials. Republicans and Trump will deface the dollar significantly over the next decade, there is no doubt. But if Joe Biden and Kamala get elected, we might be 5 times more screwed. Again, both parties will wreak havoc on the US, but the democrats are far more likely to-do significantly more damage. If you don’t believe me that fine, it's simple just look how much more money democrats want for socialist policies like work programs, and stimulus then look at republicans. And this is where 2020 comes into play.

2020 marked the year of chaos, pandemics, riots, murders, and everything bad under the sun. Fiscally the worst thing to ever happen to the US, was here in 2020. Since the beginning of 2020 the US has officially printed 3 trillion dollars (2 trillion on the way). Take a moment to imagine that number. That means that 22% of circulating money was created in 2020! Any schmuck could tell you that is not good. Look back at the Weimar republic pre-Hitler. Germany, tasked with paying millions in war reparations, effectively destroyed their currency by hyperinflating it. The Republic had no choice but to print their way out of trouble, as they had no other method of payment. Little kids turned to stacks of money as play toys, while adults used it for fire, that’s how much their currency was devalued by hyperinflation. Sure, they could borrow, but why do that when you can print. Fiat monetary systems encourage laziness and sorry excuses for solutions. But does any of this sound familiar? Duh, that just happened right now here in 2020. On top of printing trillions of dollars, the FED has also lowered interest rates to near zero. That means anybody can go to the bank and take out a loan and pay basically nothing in interest. The first problem with that is that it encourages people with no money who shouldn’t be making irresponsible purchases; to go and take out money to make dumb purchases. The second reason it's bad is because government should never ever, manipulate prices. It is the job of the free market to determine prices, not the government. But the most worrisome action of the FED is the effect of printing money. Inflation will hit and the poor will become poorer, while the rich will become richer. This is due to the fiat system. See when you inflate a currency its purchasing power goes down, that means that a bag of chips may cost 10x more tomorrow. Or one's standard cost of living rises 10x. What will the poor do when their paycheck is worth 10x less, and their rent just went up 10x. And the answer to that is they will suffer. The poor rarely have savings, or any form of assets such as bitcoin or gold causing their hard-earned dollars to be worthless. This is all while the rich thrive as they have many assets to protect their wealth, and they rarely hold cash. We must rid of this failed fiat system; it destroys those who wish to save and those who wish to be frivolous with their money. And its Keynesian economies that concedes with such a system must also be done away with. Well this is where bitcoin comes in.

Bitcoin is the only asset on the planet with a fixed supply, it is truly scarce. Although gold is also great, nobody knows the true cap of gold and how much there really is. Bitcoin, however, only has 21 million, and there will never be any more. In inflationary times, inflation hedge assets such as bitcoin and gold will be the saving grace to those who prepare properly. Think back to 2008 when the housing bubble popped, and millions of dollars were printed. Gold rose 70% in the following years. Now imagine 2020, a time where many more dollars were created, and then the bitcoin halving happened. The bitcoin halving meant that miners who mine bitcoin get half as many bitcoins than years previous. This is simple supply and demand. What happens what supply is cut in half? The demand skyrockets and the price goes up. Well that’s what going to happen with bitcoin. Bitcoin was already the best performing asset of the past decade, now add in hyperinflation and a possible dollar collapse and bam! Everyone wants bitcoin. No government or person on the world can touch or destroy bitcoin, simply because it has no central authority. Being decentralized means, nobody has control, it is quite literally the people's money. Now you can have your cash sitting in your bank account, as a melting ice cube losing value every day from inflation. Or you can buy bitcoin and never lose your money due to inflation.

It will be sad to see many fall as a result of our economic policies, but you have the chance to save yourself with sound money. Those who ridicule bitcoin simply don’t understand it. If they truly did their research and understood the technology, then they would say it was the best thing ever created. But that’s the problem with humanity, we say things are stupid or worthless cause they don’t make sense to us. It is in our nature to shut down things we don’t understand, because it fits our narrative better. There were those who ridiculed the iPhone, yet here we stand holding more computing power in our hands than the computer that got America to the moon. The early adaptors and those who take chance are always the ones who come out on top. Those who take time to learn and understand the real world, always come out on top. One day those some bitcoin haters will be sitting with 0.00000001 bitcoin admiring those who bought 1,2,3,4 bitcoins when everyone said it wouldn’t work. Now don’t bury your head in the sand and think these problems are going to go away. This is reality and how you handle it will shape your future. I will leave you with this, do your research learn about bitcoin and then decide whether its right for you or not. Do not let the mummering heads detour you from such a lifesaving purchase. Are you going to be yet another victim of the fiat money system, or will you save yourself with bitcoin?