Bitcoin Needs You As Much as You Need Bitcoin
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Bitcoin Needs You As Much as You Need Bitcoin
By Sylvain Saurel on In Bitcoin We Trust
Posted June 13, 2020
This interdependence is essential.
A unique invention in the history of mankind, Bitcoin was offered by Satoshi Nakamoto to all the inhabitants of the Earth. With this incredible gesture, Satoshi Nakamoto sent the signal that Bitcoin would be the people’s money.
Bitcoin belongs to all its users. It has no leader who can make arbitrary decisions about its future.
By doing so, Satoshi Nakamoto decided to put the fate of Bitcoin in the hands of its users. Bitcoin would become what its users would make of it. To say the least, users seized the unique opportunity offered by Satoshi Nakamoto.
Since its official launch in early 2009, Bitcoin has become stronger and stronger block by block. You don’t need to take my word for granted, just take a look at all the key Bitcoin metrics by yourself.
In this, Bitcoin is true to one of its mottos: “Vires in Numeris”.
Without any support from governments or private investment banks, Bitcoin has managed to reach a market capitalization of over $170 billion.
Better yet, Bitcoin has no dedicated marketing team. Bitcoin is totally different from all the other cryptocurrencies that launch themselves claiming to dethrone the Bitcoin King. Bitcoin is clearly the king of the industry, and will undoubtedly remain so in the future.
Bitcoin needs its users to grow
Instead of marketers, Bitcoin has loyal users who can be compared to missionaries. You have recognized here that I am talking about Bitcoiners.
These Bitcoiners contribute to the improvement and democratization of Bitcoin. Some will participate in the development of Bitcoin. Others will develop services around Bitcoin that will improve its use for thousands of users.
Others will promote its democratization by helping as many people as possible to understand what Bitcoin really represents.
By writing articles on a daily basis so that more and more people have the chance to discover Bitcoin, I place myself in the latter category.
However, all Bitcoin users have an important role to play.
Bitcoin needs its users to live, but also to help new people understand that Bitcoin is an essential weapon to build a better future, especially in terms of money.
The missionaries who participate daily in the democratization of Bitcoin are worth a thousand times more than all the marketing teams on Earth. Indeed, people who act out of conviction rather than mere financial interest are much more patient and resilient.
Nothing can take away a Bitcoiner its confidence in the Bitcoin revolution.
Bitcoin will always be protected by so-called HODLERs of last resort.
I am one of them, and I contributed with others to the strong rebound of Bitcoin during its Black Thursday in March 2020. When its price hit a low of $3,800, we took advantage of this unique opportunity to accumulate even more Bitcoins.
The monetary and financial system needs you more than you need it
If you have read so far, you will tell me that the fact that Bitcoin needs you is nothing revolutionary compared to the current monetary and financial system.
The current monetary and financial system needs the people. Without you, your government would not be able to borrow hundreds of billions of dollars year-round. If you weren’t aware of this, I’m going to tell you a hard truth:
The monetary and financial system needs every citizen to pay their taxes in order to pay back all the money that is printed or borrowed.
If citizens stopped paying their taxes today while taking their money out of the banks, the system would simply implode. So the fiat system needs you to exist.
The comparison between Bitcoin and the fiat system ends there.
If the fiat system needs you, you don’t actually need fiat system. It hardly does anything for you. The people have no voice in the current system. You still doubt that? Did the Fed consult the people before arbitrarily deciding to print $3 trillion in the last three months.
The answer is no.
The Fed is led by a minority of people who are not representative of the people and who make arbitrary decisions with very serious consequences. The consequences of decisions made by the Fed impact a majority of citizens negatively.
The rich people see their wealth increase, while the poor people who need help the most are put in even greater difficulty by this great monetary inflation.
The relationship between you and the fiat system only goes one way.
The fiat system is not a democracy at all. You may have the impression that it is, since you vote to elect your president if you are lucky enough to live in a democratic country. However, do not be fooled.
When it comes to the economy, every successive government makes the same bad decisions.
Whether the leaders are on one political side or another, they will always make the people pay for the mistakes of a monetary and financial system that is completely broken.
Bitcoin gives back to its users what they give it
Bitcoin needs its users to continue building its revolution to establish a fairer world for the future. But Bitcoin users need Bitcoin to guard against the current monetary and financial system that does not take them into account.
Bitcoin gives power to its users.
By choosing Bitcoin, you are voting against the current system. You are protesting peacefully. Your voice is taken into account, and you can really make a difference in the future of Bitcoin.
In return for your support of its revolution, Bitcoin allows you to protect what you own from the great monetary inflation. Bitcoin is proving to be the best store of value, with qualities that are objectively superior to gold.
One of the big advantages of Bitcoin is that it helps financial inclusion for millions of people around the world.
With a smartphone and an Internet connection, you have access to the best bank in the world thanks to Bitcoin: yourself.
Bitcoin plays a key role in protecting human rights.
Few realize this in Western countries. Those who take the trouble to look at emerging countries understand that Bitcoin is already a plan A for millions of people.
Look at Venezuela, Argentina, Iran, Lebanon, Lebanon, Zimbabwe and Afghanistan. In these countries where citizens are experiencing hyperinflation, Bitcoin is used more than anywhere else in the world.
For the citizens of these countries, Bitcoin is the only weapon to fight against the bad decisions of totally corrupt leaders.
The situation is not as dramatic in the United States, Canada, or Europe at the moment, but we can no longer swear by anything in the world in which we live today.
Who would have thought 6 months ago that a pandemic that had not been seen in decades would hit the world, and that central banks would print $10,000 billion in 3 months?
No one, of course.
From now on, nothing seems impossible anymore. We live in an uncertain world. As an individual, you will sooner or later find yourself trying to hold on to a minimum of guarantees for your future.
That’s where Bitcoin comes in as an extraordinary hedge against uncertainty.
With Bitcoin, you can have guarantees. There will never be more than 21 million BTC in circulation. By buying 1 BTC in 2020, you have the guarantee that your BTC will still represent 1 BTC out of 21 million in 100 years.
This historically unprecedented scarcity for a human invention is an integral part of Bitcoin’s monetary policy. The automatic and predictable side of this monetary policy is there to protect you. No matter what happens, inflation in the number of new Bitcoins produced each day will halve for every 210,000 blocks mined.
Bitcoin highlights the virtues of quantitative hardening.
Bitcoin needs you as much as you need Bitcoin
The more time passes, the more the Bitcoins that are already in circulation will increase in value. By becoming a Bitcoin HODLER, you not only support Bitcoin by making it even scarcer, but you also protect your future.
Bitcoin is magical in the sense that it is worth protecting your individual interests while also protecting the interests of the many.
By helping Bitcoin continue to grow stronger, you will enable millions of people around the world to benefit from Bitcoin as well.
The people who support Bitcoin whatever it takes have already understood this interdependent relationship with Bitcoin.
Bitcoin needs you, but you need Bitcoin for your future as well. By supporting Bitcoin, you are working to build a better future for you and the others. This is also one of the reasons why Bitcoiners are often compared to missionaries.
I hope that you will realize this interdependence, and that Bitcoin will change your life just as it has changed mine.