The Terrible Reality of Bitcoin Today
If you are reading this, I think you are already on the right side.
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I've been writing about Bitcoin daily for over five years, and while awareness of Bitcoin continues to grow among the general public, there is still something that shocks me greatly about it today. It's a terrible reality that Bitcoin is facing today. It's a problem in our society in general, but here I'm particularly interested in its application to Bitcoin.
With Bitcoin, you are facing an incredible monetary revolution that is capable of changing the world of the future for the better. Just think about it. For the first time in your life, you have encrypted, P2P hard money that is not tied to any central bank.
Bitcoin offers you an alternative to the current monetary and financial system that is flawed, and not fixable. It is something essential to give us hope for a better future world for the many.
Many people still fail to realize the positive impacts that Bitcoin will have on the world of the future if its revolution triumphs. To understand the full potential of Bitcoin, you have only one attitude to adopt: that of the student who always wants to know more. You should always seek to learn more about Bitcoin, but also about the current monetary and financial system.
If Bitcoin is the solution to the problems of this system, you will not be able to take full advantage of it if you do not understand the problems it addresses.
Unfortunately, too many people still only see Bitcoin as a financial investment. This image perfectly illustrates the terrible reality of Bitcoin today:
Write an article about why Bitcoin is a good thing, or how it works, and you'll have more than modest success. Write an article about the price of Bitcoin, and you are guaranteed to have a very large success.
The reason I am writing this is that I think you are one of those people who are way ahead of the rest, and who understand the importance of going beyond Bitcoin as a simple financial investment. This is evidenced by the readership statistics of my technical articles on Bitcoin. I also appreciate seeing your comments or messages asking me for clarification on technical topics related to Bitcoin.
It shows me that you understand that Bitcoin requires understanding things to the fullest. It is the knowledge that will give you the power to take complete control of your future regarding money. That's why I write about Bitcoin every day: I want to help as many people as possible discover the why of Bitcoin so that they can then decide how to position themselves regarding this monetary revolution with full knowledge.
The problem I'm talking about here is therefore primarily a matter for the general public.
While it is important to focus on the price of Bitcoin, and that is why I write about the price of Bitcoin in the short term as well, you have to make an effort to go beyond that. When talking to people about Bitcoin, you need to emphasize that buying Bitcoin is only the first step. Accessing the liberating power of Bitcoin requires understanding the problems it solves.
I'm counting on you to pass on this message so that more and more people will come out of the ignorance about money that the current educational system has deliberately put us into. As such, please feel free to share this newsletter with as many people as possible.
This is how the Bitcoin revolution will continue to move in the right direction: with more and more people becoming aware every day of the need for a Great Reset. Bitcoin embodies that Great Reset.
Some reading
Fear of war between Ukraine and Russia grows again - What's next for Bitcoin Price? Be careful not to get caught up in the propaganda war between America and Russia.
Canadian Government’s Authoritarian Drift Accelerates Awareness That Bitcoin Is More Than Just a Store of Value. Bitcoin is the only global P2P payment system whose transactions cannot be censored.
Bitcoin and KYC Policies – Everything You Need To Know (Risks, How To Protect Yourself, …). Whatever your choice, the important thing is to understand where the risks lie.
How Much Will One Bitcoin Be Worth In 20 Years? Attempt to answer a question that many people continually ask themselves.
Five Limiting Beliefs That Prevent You From Buying Bitcoin - Understanding the incredible potential of this monetary revolution is key.
Great Summation as always. My take is there’s Many TYPES of HODL’ers… (1) The Long Term HODL’er … a Whole Year!! (2) Then the HODL’ers using Bitcoin for their Retirement… in 5 years and then the Retirement Folks 10-20 yrs. That’s really 2 Kinds of HODL’ers. (3) The Lifetime HODL’ers that want to pass it along to their kids leaving them a fortune and (4) The Lifetime HODL’ers UNTIL they Read that (a) Bitcoin can easily be Hacked (b) they read where any Government in the world can get a Court Order for an Exchange to Identify All their HODL’ers and if the government desires then require the exchange by court order to give the Bitcoin to the government or freeze the account (c) they read that Bitcoin is really in majority control between Canada and the US and the government will just change it to their control, etc. All false information though.
But the True HODL’ers continue to read all Good and Bad opinions about Bitcoin and find out NEW information after years that the Miners Do. Not. Control. Bitcoin. as the government seems to misunderstand. The Control lies in the control of the Thousands of Node operators around the world that Validate every single Block and if a Block becomes corrupted by a government control over a majority of Miners or Exchanges, the Nodes will simply REJECT THE BLOCK to the blockchain. Now That’s interesting.
Here is a copy of my own recent thoughts on Russia, Energym and BTC
Putin will soon demand the unconditional surrender of the liberal democrats aka Neo-Bolshevists. They have fallen into a trap that only a Russian Grand Master could possibly either conceive or lay.
Russia now has the lowest energy prices on earth and the marginal supply that it can manipulate with a few military maneuvers on the border of its erant, wholly corrupt bad boy brothers in Ukraine. Since these maneuvers have begun the price of oil and gas has more than doubled yielding Russia's treasury a bounty of nearly 5 billion USD per day with no end in sight. Russian people and industry bathe in cheap energy while Europe freezes and pays triple the price of a few months ago. Very soon millions of Europeans will be piling into the streets to demand their government not only cease being the Obiden Junta’s lapdog but to make a deal forcing the erant Ukrainians to return to Mother Russia.
PUtin’s greatest maneuver was to make Bitcoin a legal currency in Russia. Sanctions were a joke before this brilliant maneuver, now they will be a total disaster for the US Dollar, UK Pound and the Euro. Let me explain why the Ruble is likely to emerge as the world’s premier reserve currency.
Putin has been in favor of regulation of cryptocurrencies since his meeting with Ethereum developer Vitalik Buterin in 2017. Against the backdrop of the US and EU threatening Russia with expulsion from the SWIFT electronic transfer system, Putin responded with a crucial decision on how to treat bitcoin and other digital assets?
Unlike the US and much of the West which has treated bitcoin and cryptocurrencies as commodities, Russia took the bold move to declare bitcoin a currency. The difference is significant and breathtaking in its consequences because of the reporting and taxing requirements between the two asset classes. Commodities are regulated and taxed similar to stocks, requiring capital gains and losses to be calculated each time they are moved. Every crypto transaction is a potentially taxable event depending on who you talk to at the IRS and SEC. Currencies, on the other hand, cannot be taxed this way. Bitcoin, to Russia, is no different than the euro or the US dollar. As a business you can receive revenue in bitcoin and calculate your profit and loss based on it paying normal corporate profit taxes. Investors can buy bitcoin and not have to worry about declaring each move they make putting a tremendous burden on the users of bitcoin. Now bitcoin, which already does significant business in Russia, can move freely through the banking system, invalidating another of the common knocks against it – that it isn’t used in the real world. This came about, as predicted, by the rapid growth of Lightning Network as a second layer payment processor which now has official Russian approval to take and send funds to registered wallets.
Now, you, I, anyone can convert your crypto into rubles and then exchange them for whatever fiat currency or asset you wish without having to pay any capital gains or other taxes. In one swift move, Putin, the Grand Master of world leaders, has made Bitcoin an international medium of exchange, and we don’t really need the US dollar, Pound, or Euro. Yes, they will all hang around for a while (the Pound has yet to die after being irrelevant for 40 years). You can be certain the nascent financial industry inRussia will soon grow immensely, making the first investors enormously wealthy along with the Russian people and state. The result is that Russia will not only become a European partner, but its European partner as well and the US will return to guarding its own borders and developing its own economy without any need for the empire it reluctantly acquired after WW 2.
Bottom line, BTC will soon climb to $100,000 USD and then begin a climb to $1,000,0000. Wouldn’t it be interesting if Satoshi Nakamota is a Russian code writer who gave Putin the ultimate tool to secure the future of Western civilization. I look forward to the restoration of the Russian two headed eagle as the symbol of New Rome.