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Sirwin

The 3 Big Questions to Ask Yourself Regarding the Bitcoin Revolution

By ssaurel | In Bitcoin We Trust | 26 Apr 2023


You make decisions every day.

Without even realizing it, you are constantly making decisions.

Among the thousands of decisions, you will have to make, some are more important than others. More important, these choices you make will have a huge impact on your future life.

Choosing whether or not to opt for Bitcoin is one of those decisions that will change your life.

Either way.

As you decide what you want to do about the Bitcoin revolution, I think there are three big questions to ask yourself.

Since the Bitcoin motto is “Don't Trust, Verify,” I'm not going to tell you what the answers to these questions are. The answers to these questions are personal as you will see.

To take power with Bitcoin, you will have to answer these questions for yourself.

The first question in my mind is this:

Do I feel pressured by some to act one way or the other regarding Bitcoin?

Specifically, you may have noticed that there is a split between the Bitcoiners and the anti-Bitcoin people who keep on falsely denigrating it.

Bitcoiners will tell you to buy Bitcoin, while the anti-Bitcoin crowd will keep telling you that Bitcoin is an environmental disaster and a system used mainly for illegal activities.

So you have to stay away from Bitcoin to listen to them.

But you tell yourself that tomorrow's world will be digital. So you need a solution to move into that future world. Don't worry, the anti-Bitcoin crowd will tell you that governments are coming to the rescue with their Central Bank Digital Currencies (CBDCs).

These CBDCs are an abomination when you think about it, but since the general public still believes too much in governments, many will not act.

On the Bitcoiner side, too many will tell you to buy Bitcoin without taking the time to tell you that it is a personal thing first. In my book “The Truth About Bitcoin,” I don't tell you to buy Bitcoin. I simply give you the facts that will allow you to make an informed choice.

It takes over 600 pages to arrive at your own truth about Bitcoin, but at least you will be making YOUR decision, not one dictated to you by someone on one side or the other.

The second question I ask you to ask yourself is:

Do I want to be able to protect the hard-earned fruits of my labor from monetary inflation and use it as I see fit without any constraints?

When I ask this question to people who don't understand the reason for Bitcoin, they are surprised.

They seem to take for granted all the constraints imposed on us by the current system.

In a recent article where I explain why the future of banking has no banks, just Bitcoin, I put forward 10 points that make a fundamental difference between Bitcoin and the current system.

Among these points is the fact that you can use your Bitcoin at any time without any constraints wherever you are.

Want to send 1 BTC (that's almost $30K at today's prices) to someone in Australia? Since it's your money, no one will ask you for any justification with Bitcoin.

In the current system, you will have to justify yourself and it will take far too long, not to mention the transaction fees you will have to pay.

But initially, it was your money. You earned it.

Yes, but it's your money with conditions. As I say in this article: Your Money, Their Rules. So, It is Not Your Money.

Bitcoin gives you power over your money. No conditions, no constraints, and no risk of censorship as long as you have the private keys to your Bitcoin in your possession.

Remember: Not your Keys, Not Your Bitcoin.

I haven't gone into too much detail about the monetary inflation you are experiencing here, but this graph of the evolution of the purchasing power of $1,000 since 1971 (and Nixon's unilateral establishment of the current system) will be quite telling for you:

 

$1,000 in 1971 represents a purchasing power of $126 at the time of writing ...

In 52 years, the purchasing power of the US dollar has dropped by -87.4%.

This is abominable!

To simply maintain your purchasing power, you would have had to find an investment that would allow you to transform that $1,000 from 1971 into $7,452:

 

Investments with this return exist, but you must realize that the poorest people do not have access to them. These people would simply like to save the fruits of their labor without fear. With this flawed system, they can't.

Bitcoin fixes this.

Finally, the last question to ask yourself:

Do I need to protect the fruits of my labor from monetary inflation in a censorship-resistant way?

I keep telling you that Bitcoin protects you from monetary inflation in a censorship-resistant way. That's true, but maybe you don't need that.

Maybe Bitcoin is a solution to a problem that doesn't exist as some anti-Bitcoin people keep saying.

If you live in a Western country, you might get that impression. After all, double-digit inflation has only just come into your lives. You're just discovering what it feels like to have your purchasing power devoured so quickly by inflation.

Just think, in emerging countries, having 10% inflation would be seen as wonderful news.

Surprising?

Not really if you consider that their inflation is well over 50, 60, 70, or even 80%.

In these countries, the constant debasement of the local currency is a major problem. Bitcoin, with its limited supply of 21 million units in any case, is a good answer to this problem.

1 BTC today will always be 1 BTC out of 21 million tomorrow, the day after tomorrow, 50 years from now...

This is an essential guarantee that makes Bitcoin the best savings technology.

In these same countries, corrupt leaders do not hesitate to censor individuals and confiscate what they own!

Once they have the private keys to their Bitcoin or the 24 words of their seed phrase, these individuals protect themselves from the risk their governments pose to their wealth.

There are many stories of migrants who have had to flee their country to arrive in a safer Western country with only the 24 words of their seed phrase for wealth. Once they arrive at their destination, these people can restore their access to their wealth stored safely within the Bitcoin network.

Try crossing dozens of countries, sometimes at war, carrying your wealth in gold or fiat currency.

You won't have much left in your pocket when you arrive.

When you see what is happening in these emerging countries, you have to tell yourself that this is something that could happen in the future in the West. You are no longer safe. You never were, but what has been happening over the last few years is enough to show you that you will need Bitcoin more than ever in the future.

Again, this is my interpretation of things.

Maybe you'll surprise me in the comments and tell me that your answer to this question is: I have all the confidence in Janet Yellen (big LOL) who contradicts herself constantly.

She has just admitted that the only way for America to keep going and pay its debt is to issue more Treasury bonds.

r/InBitcoinWeTrust - Janet Yellen: "America can only its debt with newly issued debt". FLAWED SYSTEM.  

You are stuck in the middle of a vicious circle and the politicians who run us are not even hiding anymore. They're playing us for fools and they're not hiding it anymore.

With Bitcoin, you have the opportunity to take some power away from them.

Alone, you think it will make little difference. Well, over 220 million people are already using Bitcoin. With every person who contributes a vote to this peaceful monetary revolution, we grow stronger and more real to the unique dream of Bitcoin: a people-owned monetary system that is fairer for everyone.

It's up to you to answer these questions on your own, so you know what to do next.


When Will the Price of Bitcoin Reach $100K?

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BTC Price Update and two questions for you.

Link: https://inbitcoinwetrust.substack.com/p/when-will-the-price-of-bitcoin-reach

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ssaurel
ssaurel Verified Member

Entrepreneur / Developer / Blogger / Author.


In Bitcoin We Trust
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In Bitcoin We Trust is a place where Bitcoin believers share their ideas about the upcoming revolution. Blockchain and cryptocurrencies are also covered in this publication.

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