A stunning amount of people in the world have no idea how money works, or what properties constitute a real money. People that have been ‘in the gold world’ for many years are in the right place – removing power from government to abuse the population through money creation is the ultimate goal. A finite money supply makes inflation obsolete. Inflation is a side effect of a central issuer creating excess currency – the more they make, the less it’s worth. We’ve accepted this as normal for most of our lives, never questioning why things continue to get more expensive, why we have to work more hours for the same amount of goods, or why we really pay taxes.
After all, if they have unlimited printing ability, why do they still collect taxes?
Taxes are subtle form of slavery. If the king decrees your paper is legal tender (says it on the notes) then it is required to pay for the continued privilege of living in that kingdom. The United States has taken it to the most extreme level. If you are born a US citizen and want to permanently leave the country, you STILL HAVE TO PAY TAXES. Even if you never come back to the country! This is slavery, believe it or not.
Peter Schiff is a strong gold proponent and very vocal Bitcoin detractor. He understands that the government creates inequality through money creation. Central banks decide everything and the middle class gets destroyed as socialistic policies become reality. Gold has been “money” for 5000+ years, essentially because we had nothing better to use for retaining wealth, medium of exchange, unit of account, etc. Humanity is littered with eras of corruption, upheaval, rebuilding and complacency (The Fourth Turning explains this very well). Inevitably, human greed takes over, centralized governments debase the money supply at the expense of the citizens, and revolutions happen. Time and time again, for the entire course of humanity this has been the case.
We have solved these problems with Bitcoin.
Bitcoin is not issued or controlled centrally – there is no 3rd party risk. Literally everyone in the world can participate in the Bitcoin network with ease – no trusting a bank to hold a gold deposit for you. Bitcoin can be sent instantly anywhere in the world – something that has been proven very difficult in light of Covid19. Shipping and handling of gold is incredibly expensive, takes several hundred man hours and is littered with risk of not being pure gold alloy. Billions of dollars worth of gold has been discovered to have been impure recently, an issue that has never once come up in the Bitcoin community. Bitcoin can be verified instantly upon receipt, as the network won’t accept it as a valid transaction if it is not really Bitcoin. Very few people understand the dynamics of this – 6+ trillion dollars makes up the gold market cap, compared to Bitcoin’s current cap of 300 billion.
When millions of people discover that they aren’t able to transact in gold, or verify if it’s real, I believe they will flood into the Bitcoin market for safety. Securing millions of dollars in wealth in gold requires lots of space and weight – Bitcoin requires 12 to 24 words. That’s it. With those words, you can access your money anywhere in the world, anytime. No need for banking hours to send a transfer anywhere, no permission required.
Taxes are obviously a big issue. When you save your wealth in any asset – gold or bitcoin in this instance, you are required to pay a ‘capital gains tax’ when you exchange back in to USD. The only way to exit your position in gold is to exchange for the absolute worthless fiat currency, the US dollar. Bitcoin is it’s own economy – you can send any amount to pay for any good or service. No need to cash back in to another currency to transact. Bitcoin is the first and only digitally scarce medium of exchange that we’ve ever known. Most people currently use Bitcoin to store wealth, as they believe value will dramatically increase in the future as more people realize the value of sovereign money.
Once you actually use Bitcoin, it’s impossible to return to the inefficient and bureaucratic banking entities that we currently rely on. If you’ve never tried using it, feel free to reach out or check some of the blog material throughout this website and others.
- Buy Bitcoin on CashApp
- Create a BlueWallet (SAVE YOUR SEED PHRASE!!! If YOU lose it, it’s GONE FOREVER.)
- Send funds from CashApp to active BlueWallet
- Delete active BlueWallet
- Restore BlueWallet with your Seed Phrase
Just going through these 5 steps alone will give you an amazing feel for what the Bitcoin network has to offer. No KYC, no personal information, no phone numbers or social security numbers needed (except for CashApp because it is a bank).
Bitcoin offers privacy, flexibility, reliability, and self sovereignty more than anything we’ve ever had – in the history of the world.