Learning About Bitcoin Is Financial Freedom – Bitcoin Magazine
This is an op-ed by bitcoin advocate, truth-seeker, respecter of individuality and value of freedom, bitcoin general.
For decades, legacy financial institutions have taken advantage of their position of managing assets for the majority of their investors. On January 3, 2009, Satoshi Nakamoto did something revolutionary. He mined Bitcoin’s genesis block. After witnessing the scandalous events of the 2008 financial crisis, enough is enough. Big banks engaged in predatory lending practices and constant greed and reckless behavior, driving the world into a global recession. Then came a massive corporate bailout by money printers.
Enter Bitcoin.
Bitcoin has blazed a new trail. It was a new opportunity for commoners to pursue wealth and economic independence.The control of the financial elite slowly eased as new digital asset classes were created to loosen control of government-controlled domestic currencies.
Bitcoin is “people’s money” because it is not controlled by a central bank or government. In fact, many governments have come under threat from it, imposing severe restrictions on its use or even outright banning it.
Bitcoin is a means of financial independence. Bring more financial freedom to individuals and curb government excesses with robust networks. Legacy finance and the resistance of the elite establishment only further revitalized this point, and his IMF disapproval of Bitcoin is very clear. Bitcoin is a threat to the status quo, and its staunch supporters know it.
Change is imminent, but slow. The traditional financial industry remains critical of Bitcoin. Due to its self-management advantage, Bitcoin eliminates the need for these legacy institutions, or at least reduces their role. You can now exercise your choices.
Of course, it would be negligent not to acknowledge Bitcoin’s learning curve. Tech-savvy people can learn more quickly. But you can also dive as deep as you are comfortable. Even if it seems too complicated to run a node, it doesn’t leave us with the option of using Bitcoin as a digital medium of exchange. When it comes to Bitcoin, investors should assess their risk tolerance and time preferences and proceed accordingly. For some people, bitcoin’s highs and lows may prove too high, and for others, not so much.
One of the main advantages is freedom. The freedom to buy, keep or transfer property anywhere in the world at minimal cost and in record time. Bitcoin is free from the shackles of big banks. their Time, set your own non-negotiable exorbitant rates.
Sadly, the pursuit of financial sovereignty has become a punishable crime in many parts of the world. This was seen last year when Canadian Prime Minister Justin Trudeau froze the bank accounts of citizens who did not align with his political beliefs. This was the textbook definition of government excess.
Of course, it goes without saying that all citizens should pay income tax and should not use the digital asset class to circumvent these obligations (infringement of the law should never be tolerated). However, choosing the path of financial independence through Nakamoto’s ingenious digital innovations is no longer an option to ignore. For those who don’t want to trust legacy systems with their hard-earned money, human ingenuity has opened up new avenues.
Big banks have had a monopoly on money for a long time. They made profits, manipulated the system, cheated the public, and manipulated their way to the top. Seeing financial executives openly attack Bitcoin further proves that they see Bitcoin as a threat. Rural African villagers can now own bitcoin with a mobile phone for as little as $50. I’ve also heard of remote communities using good old handwritten paper ledgers to buy bitcoins in places with limited internet access.
And the beauty of it all is Bitcoin’s deflationary nature. It is the antithesis of an eternal fiat currency system. inflationaryThis is not to say that market declines will not affect Bitcoin. At the time of this writing, Bitcoin has experienced a significant drop, resulting in a large amount of his FUD. Winning with Bitcoin is running a marathon. One HODLer once described it as “a head game that challenges you on every level.” Certainly, a recession will affect some of us. Bitcoin’s volatility could test the nerves of many and even force them to reassess their risk tolerance. No advisors to blame, no stockbrokers to fire, no fund managers to fire. You have to take the time to learn the protocol, understand its possibilities, and jump on the roller coaster. We’ve seen some extreme highs and some stomach-turning lows. Don’t fall into illusions. Bitcoin is still a risky asset in 2022. However, given the current global financial conditions today, Bitcoin appears to be outperforming the traditional stock market as a whole as this unprecedented bear market trend continues.
A veteran investor who has been in the trenches for years once said: The punch may not come, but if you’re ready, you’ll be in a much better place psychologically. HODLing takes the ball.
It may sound simple, but this is not just a linear “buy and hold” strategy. we need to do our homework We need to educate ourselves and learn the protocol and all its possibilities. Study the critics, watch the debates, learn the naysayers’ arguments. The point is, disagree with them. The point is to educate yourself to know if Bitcoin is the right investment tool for them.
Central bank operations are at an all-time high. The recent multi-billion dollar government buyback in the UK bond market is just one example. The value of fiat currency continues to fall. Central banks continue to devalue the domestic currency and devalue the net worth of individuals as most of us are paid in this currency. Policy makers will continue to improvise and manipulate the system. Remember, they get their weekly paychecks no matter what, so there are no real in-game skins. A tradition that has essentially let us all down.
This is a guest post by The Bitcoin General. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or BTC. Bitcoin magazine.
Learning About Bitcoin Is Financial Freedom – Bitcoin Magazine
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