quoting
naddr1qv…h9dsHT to @Dale21M on X for the inspiration. I've taken his original post and added to it.
Why is everything so expensive? Why do the rich keep getting richer and the wealth divide keeps getting bigger? Why can't you just work and save money - why must you invest to get ahead?
It's because traditional fiat currencies like the £ and the $ are a scam. It's money backed by nothing other than decree and is intentionally designed to inflate away. It's costless to produce so there's no constraints to printing it. The more governments print, the less valuable your tradition currency and savings become.
The money is fundamentally broken. Money represents your stored time, energy and labour. Devaluation of our money represents a devaluation of our time. And time is the only thing on earth that is truly scarce.
Bitcoin fixes the broken money.
Bitcoin is a deflationary, fixed supply apolitical money that is permissionless with a predictable supply issuance. It's decentralised without a central issuer and allows you to send value to anyone on the planet without an intermediary. It's one of the reasons why the world's biggest asset managers just launched a BitcoinETF and why its value keeps going up, and why it will continue to do so forever.
Bitcoin is not just about the price. It's about so much more.
But price is the reason people start to adopt Bitcoin initially, primarily looking for gains over time.
Bitcoin is a savings technology and a very powerful store of value. It's the equivalent of digital gold but better than traditional gold in pretty much every aspect.
However, most people still have not taken the plunge and started accumulating bitcoin.
With the recent price action (which you may not even be aware of yet), many people are going to feel that they have missed the boat and it's too late to start accumulating.
In the last month or so, bitcoin has breached the previous all time high and briefly touched over £55,000 GBP per single Bitcoin.
The simple truths are these...
- You are not too late to accumulate Bitcoin. You will never be too late. Bitcoin will always go up in value over a medium to long term time period.
- You don't need to buy a full bitcoin. You can buy from as little as £1's worth per day.
- Due to its divisibility, Bitcoin is not expensive - price is what you pay, value is what you get.
- There is no other "#crypto" worth considering - there's no second best, the other cryptocurrencies are essentially companies with founders who printed a bunch of tokens for themselves - fiat currencies 2.0.
- The people who've done well in Bitcoin up to now aren't lucky - they were open minded enough to consider a different perspective and they did the work. Most of the people I've engaged with in the Bitcoin space are some of the brightest people I've ever come across.
Bitcoin is based on maths.
It's not speculation, it's not gambling. It's a new digital money backed by the most secure and powerful network in existence. It's decentralised and permissionless. Its monetary policy is not set by governments or corporations, it's set in code and governed by concensus. It's the best form of money we've ever had.
Yes, it is extremely volatile in the short term. How can it not be? How can something grow from £0 to £55,000 in 14 years without huge volatility?
The only way to assess bitcoin is with a long term view - 4 years minimum.
You can almost guarantee that if you buy any bitcoin at any time, it may well temporarily lose value in the short term, so just have to accept that. But you have to look to the future.
With a 4 year time horizon, Bitcoin has always increased in value.
Always.
Those people that bought at the previous all time high and held onto their Bitcoin did so just over two years ago and are all in profit. At this point, following the new breaching of the all time high, 100% of everyone who has ever bought and held onto bitcoin are in profit. Every single person.
However, this recent breach of the all time high is not like the previous all time highs.
The Bitcoin ecosystem is stronger than ever and a whole new dynamic is in place. The mainstream financial institutions have arrived and have embraced bitcoin in a big way.
In 2021, when the last all time high was achieved, this was mainly through retail purchases through exchanges. FOMO or "Fear Of Missing Out" was rampant. Bad actors were prevalent (FTX for example) distorting the supply. Buying bitcoin was difficult and not easy to understand.
In 2024, the dynamics are completely different and the bad actors have been swept away.
The launch of the US bitcoin Exchange Traded Funds (ETFs) in January have supercharged bitcoin adoption making it easy for US investors and institutions to buy exposure to bitcoin via their stock brokers with a push of a button.
Capital inflows into bitcoin are unprecedented and bitcoin is being promoted by the top financial companies in the world.
Changes to FASB rules now allow companies to buy bitcoin for their treasuries and have an easy way to correctly account for it.
FOMO for retail investors for this cycle has not yet even started.
For the first time, an all time high has been reached before the halving. This is due in April where the supply of newly minted bitcoin is programmatically halved, from 900 bitcoin per day to just 450 per day causing a pre determined supply shock
Environmental concerns are proving to be unfounded with organisations like the WEF extolling how bitcoin mining is having a positive impact.
Here are just some examples of how the value of bitcoin has grown in the last few years.
If you received a stimulus check in the US for $1200 USD and bought bitcoin (on April 15, 2020) and held on to it, it would be now be worth $12,346 - a return of 929%
Back in October 22 I posted a tweet about buying £10 of bitcoin using my Revolut account in 2018, and how it was then worth £37.97. I just checked this morning in April 2024, and it's now worth £120.56!
Back in August 23, I posted that you could purchase 2.2 million sats (sats being the smallest unit of Bitcoin) for just £500. If you had done, those same 2.2 million sats today would now be worth £1,208.44
I've done thousands of hours of work studying Bitcoin over the past 7 years, and there is legitimately no better way to take care of your future self by saving the best money humanity has known.
I'm happy to give any of my friends or family free advice on how to get some Bitcoin.
Do yourself a favour and read this. If you're keen, I'm always available to talk.
https://vijayboyapati.medium.com/the-bullish-case-for-bitcoin-6ecc8bdecc1
P.S- The lowest return over any 4 period is 100%, go test it.
DonMcAllister on Nostr: Just did my first long form piece on Habla ...
Just did my first long form piece on Habla