Bitcoin: Empowering Change and Building a Financial Future

Bitcoin is Hope

Introduction

In a world filled with negative portrayals of Bitcoin, it's crucial to recognize the profound potential and positive impact this revolutionary technology can have on our economy and society at large. While the mainstream media often highlights Bitcoin's price fluctuations and energy consumption, I continue to be optimistic about the transformative power it holds. Let's dive into the fundamentals of Bitcoin and explore how it can bring about meaningful change and empowerment.

Unleashing the Power of Bitcoin

At its core, Bitcoin offers several key features that differentiate it from traditional financial systems. These features include:

1. Absolute Scarcity. With a maximum supply of 21 million coins, Bitcoin embodies scarcity, much like gold. This scarcity ensures that Bitcoin cannot be easily devalued or diluted, providing a hedge against fiat currency debasement.

2. Peer-to-Peer Transfers. Bitcoin enables seamless and secure peer-to-peer transactions worldwide. Whether you're sending value to your neighbor or someone on the other side of the globe, all you need is a computer and an internet connection.

3. Independence from Legacy Systems. Unlike traditional financial infrastructure, the Bitcoin network operates independently. It serves as the first global digital payments infrastructure, free from the control of any person or group.

4. Trustlessness and Security. Bitcoin's decentralized and immutable ledger, coupled with its "proof of work" consensus mechanism, ensures that the system remains trustworthy and immune to manipulation. This integrity is lacking in our current financial system.

5. Simplicity and Accessibility. Bitcoin's digital nature simplifies the validation, storage, transfer, and security of assets. Unlike gold, it doesn't face the same challenges when handling large amounts, making it more accessible to everyone.

The Truth and Honesty of Bitcoin

One of the most captivating aspects of Bitcoin is its commitment to truth and honesty. In a world where deception and dishonesty plague our financial systems, Bitcoin stands as an embodiment of transparency and integrity. The Bitcoin protocol operates day in and day out, processing and validating transactions while maintaining the unalterable truth recorded on its decentralized ledger.

The Flaws of the Current Financial System

Our current financial system suffers from fundamental flaws that perpetuate societal problems. Wealth inequality, undisciplined lending practices, limitless money supply, and the erosion of purchasing power are just a few examples.

Too much public debt:

And persistent inflation:

Leads to declining purchasing power over time:

The harder you work, the less you can afford because the money is broken.

Financial Education

Additionally, the lack of financial education in our high schools and universities exacerbates these issues, leaving many individuals vulnerable to exploitation and manipulation. It’s almost like this is intentional.

People must first teach themselves to take personal financial responsibility and then teach their children. Fortunately, technology has made it easier than ever to gain this knowledge and understanding. Whether you have an aptitude or interest in financial topics doesn’t matter. You owe it to yourself, as a matter of survival, to have a basic understanding of these things.

Rich Dad, Poor Dad was where my financial education journey started. Now I read dozens of substacks daily, listen to several podcasts every week, in addition to following many excellent financial accounts on Twitter. The more I learn, it seems the less I know. That’s particularly true of Bitcoin. Having a financial education doesn’t mean you have to become the worlds greatest investor, but it can help you navigate the financial world with more confidence and make better decisions.

Here’s the neat thing: Bitcoin allows you to save your hard earned money so you can focus on creating value and enjoying your life instead of worrying about investments and trying to beat inflation.

Bitcoin: A Path to a Better Future

By embracing Bitcoin as the foundation of a new financial system, we can reintroduce honesty, transparency, and financial stability. Rather than relying on undisciplined lending and speculative investing, a Bitcoin-based system encourages thoughtful investment and lending practices. It fosters a return to creating real value and enables individuals to save their hard-earned money in a secure and stable asset.

Jeff Booth writes about this in his book The Price of Tomorrow, a popular book with Bitcoiners:

We live in an extraordinary time. Technological advances are happening at a rate faster than our ability to understand them, and in a world that moves faster than we can imagine, we cannot afford to stand still. These advances bring efficiency and abundance—and they are profoundly deflationary. Our economic systems were built for a pre-technology era when labour and capital were inextricably linked, an era that counted on growth and inflation, an era where we made money from inefficiency. That era is over, but we keep on pretending that those economic systems still work. The only thing driving growth in the world today is easy credit, which is being created at a pace that is hard to comprehend—and with it, debt that we will never be able to pay back. As we try to artificially drive an economic system built for the past, we are creating more than just economic trouble. On our current path, our world will become profoundly more polarized and unsafe. We need to build a new framework for our local and global economies, and soon; we need to accept deflation and embrace the abundance it can bring. Otherwise, the same technology that has the power to bring abundance to us and our world will instead destroy it.

Bitcoin's potential to transform the economy extends beyond financial matters. It has the power to usher in a truly market-based economy, empowering individuals and eliminating unnecessary intermediaries. By taking control of their finances directly, people can break free from the cycles of debt and financialization that currently dominate our society and we can live in a world of greater abundance.

One way I have articulated modern fiat life is the Debt Cycle:

The Transition and Challenges Ahead

While we acknowledge the current reliance on fiat currencies, we must prepare for a future that prominently features Bitcoin. Our existing system's growing sovereign debt, inflation, market volatility, and widening wealth gap are signs of its impending failure. Social unrest and dissatisfaction are mounting, pushing for a change in the status quo. We don’t know when the change will come, but it seems inevitable if history is any guide. If you haven’t seen it, Ray Dalio has in interesting video about the changing world order on YouTube here (this is the five minute version). If you want to dive deeper into the cycles of Western civilization and the United States, The Fourth Turning by William Strauss and Neil Howe is on the reading list of many Bitcoiners.

Transitioning to a new financial system won't be without its challenges, but it holds the promise of a simpler, more freedom-driven future. As we adopt Bitcoin's truth and honesty as guiding principles, we can reshape not only our financial affairs but also our social interactions in this new world. I wrote more about this transition in a recent post below:

Conclusion

Bitcoin represents a beacon of hope, challenging the flaws of our current financial system and offering a path towards empowerment and positive change. As we navigate the complexities of our financial lives, let us remember the transformative potential that Bitcoin holds. Embrace the truth, pursue financial education, and envision a future where freedom, health, and positivity reign.

Not financial or legal advice, for entertainment only, do your own homework.  I hope you find this post useful as you chart your personal financial course and Build a Bitcoin Fortress in 2023.  To see all my books on investing and leadership, click here.  

Always remember: freedom, health and positivity!  

Please also check out my Building a Financial Fortress Podcast on YouTube here and on all your favorite streaming platforms. I do a weekly Bitcoin news update every week on current items of interest to the Bitcoin community, usually 30 to 60 minutes depending on the number of topics to cover. Please check it out if you haven’t already. Also now on Fountain, where you can earn Bitcoin just for listening to your favorite podcasts.