November 2020 - Sylvain Saurel

Bitcoin is the money of the people supported by the people. A unique invention in the history that puts people at the center of the system.

Bitcoin Is a Unique Invention in the History That Puts People at the Center of the System

Bitcoin is a unique invention in the history of mankind.

You have probably heard this phrase hundreds of times. I apologize in advance because I use it frequently as well. At the same time, how can you not be enthusiastic about such an incredible invention as Bitcoin?

It’s hard to remain measured when you really understand the potential of Bitcoin to build a better world for all in the future.

Yet, some people may find it hard to understand why Bitcoiners constantly talk about a unique invention in the history of mankind when they talk about Bitcoin.

Some beginners may not dare to ask for information about it. This is a mistake, because any question, however trivial it may seem to some, is worth asking if the need arises. After all, Bitcoin’s motto is “Don’t trust, Verify”.

Bitcoin encourages you to develop your critical thinking skills. To do so, you need to do your own research and ask questions if necessary. Then, it will be up to you to synthesize and form your own opinion of things.

Money has not always been a prerogative of the States

Nowadays, a majority of people think that money creation should be a prerogative of the States.

This conception, which seems obvious to us today, is very recent. In the Middle Ages and until late in history, the control of money by the royal power was limited to certifying that a gold coin was equal to one gram of gold.

Kings did not have the power to act on the money supply in circulation as central banks do today.

Friedrich Hayek, who died in 1992, must be turning over in his grave after seeing central banks print more than $10 trillion out of thin air since March 2020. Friedrich Hayek was already concerned about all this in the mid-1970s.

For him, the big culprit was the English economist Keynes. He was guilty of pushing strongly the idea of control of currencies by governments and central banks.

To stop this inflationary spiral, Friedrich Hayek saw two possibilities:

A return to the gold standard, which makes it possible by the scarcity of the precious metal to limit inconsiderate monetary creation.
Or a competition between currencies.

Bitcoin is our best chance to finally get good money

The emergence of Bitcoin is thus the realization of Friedrich Hayek’s dream.

By Taking Out Control of Money From the Hands of Governments, Bitcoin Is Our Chance to Have Good Money

Indeed, Bitcoin exists in limited quantities. There will never be more than 21 million BTC in circulation. The monetary policy of Bitcoin does not depend on any arbitrary decision of humans.

Written into Bitcoin’s source code, Bitcoin’s monetary policy is programmatic. Everything is inevitable with Bitcoin.

New Bitcoins are not created out of thin air. Each Bitcoin produced will have required a significant consumption of energy. Anyone who criticizes Bitcoin on this point does not understand that this is precisely what makes Bitcoins so valuable.

The intrinsic characteristics of Bitcoin have incredibly positive consequences for those who possess it.

As long as you have the private keys associated with your Bitcoins, no one can confiscate them from you. No one can stop you from making the transactions of your choice around the world on the Bitcoin network as well. Bitcoin gives you total power.

Bitcoin allows you to resist censorship

Government authorities cannot censor you. The banks can’t do anything against you either. This is why I consider the potential entry of American banks into the Bitcoin world as bad news.

Bitcoin was designed to free people from the yoke of the central bankers and the private bankers. If you buy Bitcoin through a service offered by your bank, you would have the same problem as with the current banking system: you would be at the mercy of your banker’s arbitrary decisions.

Bitcoin’s programmatic monetary policy with very precise rules that will never change gives you enormous guarantees in an increasingly uncertain world. Unlike the money supply of the U.S. dollar and other fiat currencies that are constantly increasing, you know that the number of BTC will remain limited to 21 million no matter what happens.

The Bitcoin people buy in 2020 will still represent 1 Bitcoin out of 21 million in 10, 20, or 50 years. With the U.S. dollar, you are rather guaranteed endless inflation of the M2 Money Stock. In 2020, you don’t need more U.S. dollar to spend, but rather more Bitcoin to save.

The endless inflation of the U.S. dollar keeps devaluing what you own

Your purchasing power in the U.S. Dollar will never stop decreasing. Since Richard Nixon introduced the current system in 1971, the U.S. dollar has lost 85% of its value. This is huge, and it makes any hope of saving your money useless.

The U.S. dollar was designed to be spent. Bitcoin is first and foremost a savings technology allowing you to opt for low time preference.

The emergence of Bitcoin has shown that the future of money is digital. It gave Facebook ideas to launch its own digital currency. The Libra project was launched with this in mind. The States have calmed Facebook’s ardor since then, but the idea is well in the heads of the Web giants.

By offering you their digital currencies, these Web giants could target your money habits even better. They would then be able to generate even more advertising revenue thanks to the fine knowledge they would have of all the transactions you make.

CBDC will be a threat to your right to privacy

If it’s not the Web giants, it will be the states that will try to impose their Central Bank Digital Currencies (CBDC) on you. China is advancing at high speed on its digital yuan project.

The e-RMB project is the missing piece in the massive surveillance arsenal that China has put in place over the last ten years with the Chinese social credit system.

Other states will follow China’s lead sooner or later. As a citizen, Bitcoin will be your best weapon to protect your society from the mass surveillance that is being built.

With Bitcoin, people will be able to protect their privacy when it comes to money. By combining Bitcoin with other decentralized tools, you can gradually regain your online sovereignty. You have to fight for it. A right is never definitively acquired.

Conclusion

Contrary to some of society’s advantages that are restricted to the elite, Bitcoin is accessible to all. Bitcoin offers the same opportunities to all its users. Anyone can become a Bitcoin user. You can choose to take your destiny into your own hands by becoming a full node of the Bitcoin network at any time.

That is where Bitcoin’s great strength lies. Everyone is free to form their own opinion of the truth at any time. Bitcoin’s motto “Don’t trust, Verify” is not in vain. Bitcoin constantly encourages you to develop your sense of critical thinking.

By putting people back at the center of the system, Bitcoin is our best chance to build a better future world for all. It is up to you to come and participate in building that world.

Few understand that you just need more Bitcoin to save.

You Don’t Need More U.S. Dollar to Spend, You Need More Bitcoin to Save

“You can always make more money, but you can never make more time.”

The source of this quotation is still very mysterious. I have heard it throughout my life, but I have never been able to find out who it was originally from. Anyway, I find it full of meaning.

This quote makes even more sense when I see some people going on a frantic quest to earn more and more fiat money. While we are experiencing great monetary inflation, some people still believe that the U.S. dollar is all-powerful.

All these people think about is earning more and more U.S. dollars to accumulate more and more.

Accumulating more and more U.S. dollars will not make you happy

I still wonder how these people don’t realize that the U.S. dollar they cherish so much will never bring them true happiness in life.

The first thing to understand is that the U.S. dollar was not designed to be saved. The U.S. dollar was designed to be spent. It is the model of the system at the center of which is the U.S. dollar. To force you to spend all your hard-earned money, the central bankers keep increasing the money supply.

This endless inflation of the U.S. dollar, and other fiat currencies, induces an equally endless devaluation of your purchasing power.

In 2020, the purchasing power of $1,000 in 1971 is no longer even $150:

Buying power of $1,000 over time, 1971-2020

This drop of more than 85% in 49 years is quite phenomenal when you think about it.

The most unbelievable thing is to think that to keep the same purchasing power at $1,000 in 1971, you would have had to transform this amount into $6,426 in 2020. This could only have been done by making investments in different areas, but certainly not by saving your money in the bank.

Unfortunately, a majority of people do not have the opportunity to buy real estate, invest in the stock market, or buy gold to protect themselves from this monetary inflation.

The U.S. dollar is at the center of an unfair system

The current system is unfair because it produces a slow but inevitable impoverishment for a majority of people.

While the richest 1% of the population continues to see their wealth appreciate, the poorest 50% live in increasingly difficult conditions.

Total Wealth of Top 1% and Bottom 50% (1989-2018)

Between 1989 and 2018, the richest 1% of the United States saw their wealth increase by more than $21 trillion.

At the same time, the poorest 50% saw their meager wealth decrease by nearly $1 trillion.

The U.S. dollar is a currency that does not give equal opportunities to all U.S. citizens.

It is the same with all fiat currencies in the different countries of the world. However, hundreds of millions of people work harder every day to try to earn more U.S. dollars.

Since they can’t save their fiat money, they are doing the only thing the system expects of them: they are spending more and more money on totally useless things.

The U.S. dollar locks you into a vicious circle of impoverishment

The consumer society is very strong to persuade you that you have to buy those things that are useless in the end. Since you no longer see any point in saving, you end up giving in.

This leads you into a vicious circle that will prevent you from achieving happiness. I am talking about true happiness here: having enough time to do what you want in life.

The U.S. dollar doesn’t give you access to this most precious resource in the world: time to live your life as you wish.

So clearly the solution is not to earn more U.S. dollars to spend. You have to look for a way out of this vicious circle that impoverishes you irretrievably over time.

Bitcoin is your way out of this vicious circle

Bitcoin is the exit you need. Officially launched on January 3, 2009, Bitcoin is a savings technology that gives you control over what you own. Once you own the private keys associated with your Bitcoins, you are the only master on board.

No one can confiscate your Bitcoins, or prevent you from using them as you wish. With more Bitcoin to save, you will have protected more wealth.

Therefore, Bitcoin gives you the freedom to live on your own terms. You can buy one Bitcoin in 2020 with the guarantee that it will still be one Bitcoin on 21 million in 10, 20, or 50 years. This guarantee is given to you by the fact that the Bitcoin offering is hard-capped at 21 million units.

Bitcoin has been steadily increasing in value since its launch. From $0.125 in October 2010, Bitcoin’s price has grown to over $13K in October 2020. No asset in the world has done better over the period. If you had bought $1,000 worth of Bitcoin in October 2010, you would have had the equivalent of $108 million in your possession when October 2020 came to an end.

Bitcoin is a once-in-a-lifetime opportunity

As of November 20, 2020, the situation would be even better since the Bitcoin price is in the midst of a bullish rally and has exceeded $18K.

The more U.S. dollars you earn, the more Bitcoin you will be able to buy if you fully believe in its monetary revolution. You just need more Bitcoin to save.

This will help you be happier. It is not the possession of Bitcoin itself that will make you happier, it is what it will allow you to do. Indeed, you will have more time at your disposal. Time is the most precious thing on Earth.

Conclusion

Bitcoin is the scarcest human invention in history. More Bitcoin to save will help you get more time to live your life the way you want. Bitcoin will help you achieve true happiness in your life.

Few people realize it yet, but Bitcoin was designed to give every citizen the power to take control of their lives. When you buy Bitcoin, you decide to become your own master. You can then maximize your chances of achieving the happiness we all aspire to in life.

To help you reduce this knowledge gap, you should look at the 5 thought patterns holding you back to buy Bitcoin.