Today we will talk about Bitcoin and what it brings compared to the Dollar.
First of all, Bitcoin is worth more than 11K dollars. Even though it’s still very young.
1 - Bitcoin is decentralized. This means that not a single person or entity can hold the power, the future, and the evolution of this money. It belongs to all of us.
2 - Bitcoin brings equality between humans. Anyone can have his own money safely stored without need of having it hidden under a mattress or having an account in a bank. It’s important when you know that more than ⅓ of the population doesn’t have access to a bank.
3 - The big majority of Bitcoin owners never “panic sell”. Once you have Bitcoin, you keep it. This is what we call to “hodl”. When the American Dollar has an inflation, Bitcoin gets a decrease in inflation.
4 - It is impossible to create a copy of Bitcoin. Each Bitcoin is unique and will remain unique. It solves the fraud problem since you cannot use someone else's wallet without a strong series of authorizations. The bitcoin blockchain avoids double payment. This is a must for the merchants.
5 - Since bitcoin is digital, it is really easy to transport your money anywhere. Business men or diplomates used to carry suitcases full of cash. With crypto you just need a simple USB key (check Trezor or Ledger) and you can travel with a billion with no stress to get stolen. And if you lose your key, you will always be able to find your funds through your seeds or private key.
6 - It can be very annoying and long to transfer money from one bank account to another. If the bank decides, the transfer can be refused for obscure reasons. It also shows on each transaction that you are not the owner of the result of your work. As a daddy (the bank) who tells you (because he knows better than you) what is good or not and what you are allowed to do. At this point, Bitcoin gives you the freedom to use your money the way you want, simply because you own it (for real).
7 - Something I learned. Being free is priceless. You can send one or many crypto coins for some cents as fees. Instead of paying fees to a central powerful entity, for Bitcoins for example we have what we call miners. They are here to make the full system solid and worthy. You will not pay fees to one company, but to the citizens who are keeping this beauty alive.
8 - For a long time, customers were afraid of spending their crypto coins, because there was no refund structure in case of dispute. We found a company who provides this safety for them. Utrust (utrust.com). Acting exactly the same way as Paypal, but for crypto users, it brings the trust for the merchants and the customers.
Imagine a bank account with no fees when you store your money in it:
- The value of your account increases
- You are the owner of your money
- Citizens are paid for keeping the system alive
- All transactions are “privates”
- No one can use (or empty) your account without your agreement
- You can transfer money quickly and cheap
- No more fraud
- And More...
Satoshi gave us the opportunity to grow, it’s up to us to spread the power. Thank you