They say it takes 40+ hours to truly understand bitcoin.
I think it takes much longer if you get caught up in the alt-coin distractions along the way, like I did and most do.
It took me at least 100+ hours to reach the Bitcoin Epiphany, which happens when you truly see Bitcoin.
The nature of seeing Truth is you can't unsee it. It's like learning that 1 + 1 = 2... and that it does not equal three no matter how hard you want it to.
My goal with this website and podcast is to help you see the Bitcoin Truth as fast as possible.
That's why you won't see my talk about "crypto" anything here on this site. Just Bitcoin.
I believe it is now only a matter of time until the world adopts the Bitcoin standard.
It follows that my advice is and should be simple: Focus on Bitcoin and forget everything else.
Once you master Bitcoin, you can explore other projects if you want, just make sure you do with play money. And do not sell your Bitcoin!
Bitcoin is a cryptocurrency—a digital currency—made possible by the internet, cryptography, and P2P networks.
You buy bitcoins from someone else, the transaction of which is recorded on the public Bitcoin ledger. Then, for as long as you hold your private keys, that Bitcoin belongs to you and no one can take it.
Every transaction from the dawn of Bitcoin time is recorded on the blockchain and every transaction into the future. This ledger lives on thousands or computers around the world and is fully visible and accessible by anyone 24/7.
The code that powers Bitcoin is open source. This open source code runs on "nodes," which are individual computers around the world that enforce the Bitcoin rules and verify transactions. Next up are "miners," which participate in the "mining" of bitcoins as well as verifying transactions. These miners get rewarded with bitcoins when solving complex math problems that are integral to the security, scarcity, and game theory that all make Bitcoin decentralized and bitcoins valuable.
Hodlers of bitcoin are individuals like myself that buy and hold Bitcoin.
These millions of separate entities voluntarily join the Bitcoin network and accept and enforce the rules by participating. This is what makes Bitcoin "decentralized," which means no one person or group can change the rules or alter the public ledger.
The emergence of true decentralization coupled with the 21-million coin cap and the known block reward issuance schedule is the first time in human history we have discovered absolute scarcity.
And that is Bitcoin's breakthrough.
This is why Bitcoin will go down in history as one of humanity's greatest achievements and is leading us all into the next epoch of human evolution.
Because the world no longer has sound money.
When Nixon took America off the gold-standard, the destructive fiat paradigm was unleashed.
Since then we've seen the greatest wealth divide in history.
And that's only one of the many disastrous side effects of toxic money.
War, inflation, processed foods, cancel culture, and ever-growing piles of debt are all features of unsound money that are the result of these man-created distortions in the marketplace.
Bitcoiners like to say, "Fix the money, fix the world,? and for good reason, because when you study history, economics and what money is and how it works, it becomes so painfully obvious how corrupt and broken the fiat system is.
And as you venture down this rabbit-hole, you invariably come to the same conclusion that many of us have... that Bitcoin is the answer... and probably our only hope.
Why don’t we have sound money?
Because humans can't be trusted. And governments are run by humans, so they definitely can't be trusted.
Simply put, humans capable of manipulating the money supply always will.
Sound money is the foundation of a fair and equitable society. Without it, you get massive inequality and an ultra-powerful elite that use their monopoly on money (and violence) to maintain their power for generations. This is the fiat paradigm.
Bitcoin is the first censor-proof money in existence that NO ONE can control, manipulate, inflate, or ban.
Bitcoin's real breakthrough lies in its separation of money from humanity.
This discovery is akin to fire and the wheel and is going to be paramount in bringing us into the the next phase of human evolution.
Bitcoin is alive and unstoppable.
It will keep chugging along for generations to come.
It is a financial Frankenstein that's going to keep serving us whether we like it or not. In that regard, it is much like the Internet which no one controls and no one can turn off.
But unlike the Internet, Bitcoin is a force of good whereas the Internet can be used for both good and bad.
In this way, Bitcoin is going to be a much more important technology than the Internet on a net benefit basis.
Inflation is the byproduct of a fiat system because governments have never been able to resist printing money.
For as long as any government has power over the money printer, they will use it.
Inflation is called "the silent tax" because it is a tax you don't see that is taken right out of your bank account.
Inflation is the theft of the purchasing and earning power of everyone.
Those closest to the money printer benefit as they get access to cheap, sometimes free, money.
This disproportionally hurts the lower classes as they have to work more hours to afford fewer goods, a kind of indentured servitude. It is mass theft in broad daylight.
Bitcoin can't be stolen or destroyed through inflation.
The government can't kill it, and it can't manipulate it.
Bitcoin allows Cuban citizens to store their wealth inform the government can't confiscate or inflate away.
Bitcoin has become legal tender in El Salvador. This will bring unprecedented wealth and prosperity to the citizens. It will also remove power from corrupt institutions like Western Union that exorbitant charge fees on remittance payments from relatives living abroad.
Bitcoin has given afghani refugees a way to protect their life savings from confiscation. Unfortunately, only a tiny % of Afgan citizens were aware of this technology, and most are now at the whims of the Taliban.
(Btw, Western Union recently stopped all services in Afghanistan. Imagine if you had family members stuck in a place where the government was crumbling and likely going to starve, and you couldn't send them help. Just imagine.)
Bitcoin is the first form of property that allows you to privately store and move large quantities of wealth without having to trust third-parties.
All you have to do is memorize a set of words and your wealth is secured on your person wherever you go and no one knows it's there.
Try lugging around gold bars or cash and see how far you get. Most countries require reporting any cash or bullion over $10,000 when crossing boarders. And if they find it on you, they may confiscate it citing suspicion of illicit activity.
During the rise of Nazi Germany, many Jews fleeing the country paid as much as 90% of their wealth as an "exit tax" to get out of the country.
For the first time in human history, the individual can store her wealth in something that can't be taken or manipulated by anyone.
Bitcoin is math, numbers on a screen, which is protected by the first amendment.
This is one reason why the U.S. can't and won't try to ban Bitcoin.
Then there's the enforcement issue.
Do you really think any government is going to be able to regulate something that moves at the speed of light?
Just look the stellar job they've done with the War on Drugs.
The US may try to ban Bitcoin, but they will fail. (They will also fail in enforcement, but that’s another matter entirely.)
Come for the gains and stay for the revolution.
Bitcoin is going to change the world, but first it will change you.
It will force you to think long term, to save more, and to learn the importance of sound money and personal property rights.
Bitcoin compels you to think from first principles and it compels you to constantly challenge your beliefs.
It is the most self-education inducing thing I've ever seen in my life.
Since Bitcoin has perfected money through the discovery of true scarcity, it is highly probable to go parabolic in price as supply and demand responds to mass adoption.
Some call this hyperbitcoinization.
In this scenario, which I believe is inevitable, you will see a rapid rise in bitcoin's price as billions of humans (and institutions and governments) start flooding into this scarce asset.
As the saying goes, "everything is divided by 21 million."
I believe in my lifetime we will see $1,000,000 bitcoin, and probably $5,000,000.
In the future, if you own a whole bitcoin, you'll probably become a meme. (And this is the one time you want to be a meme.)
There will only ever be 21 million bitcoin, and 8 billion humans are going to want it.
Do the math.
The total value on Earth is something like 400 trillion.
Let's now take the wealth of humanity and divide it by 21,000,000.
You get ~$19,000,000 per Bitcoin.
The BTC price may never get to this point, and it very well may surpass it. Only time will tell.
I believe Bitcoin will reach at least $1,000,000 within the next few years.
That's one reason why I hold most of my net worth in bitcoin.
As I said, for me and many other Bitcoiners, this is about a much-needed revolution to the broken status quo first and about money second.
What that means is I hope we don't see $1,000,000 bitcoin too fast. I much prefer a slower revolution than all at once.
Why would I not want a fast price increase if most of my net worth is in Bitcoin?
Because if that happens fast, it will likely be due to the hyper-inflationary collapse of the US dollar.
And if we see hyperinflation that way, BILLIONS OF HUMANS ARE GOING TO SUFFER, and MILLIONS ARE GOING to DIE.
Supply chains will break down.
A gallon of milk will cost $100 or $1000. Borders will shut down. Countries will go to war.
The entire house of cards built on money printing and debt will come crashing down so god damn hard that the world around me will burn.
And that's why I hope we have a slower revolution.
Who gives a shit about being rich during the apocalypse?
It makes me sick to think about the ramifications of this all every time I look a little bit closely at just how bad it all is.
I'm not the type of prepper that wants the world to end so I can feel vindicated in my beliefs.
I'm the prepper that prepares for the worst and then prays to the cosmos that it never happens.
Hopefully Bitcoin will be ready to pick up the slack if/when the fiat system comes tumbling down. Bitcoin is the backup system the world could use to stabilize so that the entire system doesn't come crumbling down.
Some might think this will be a good thing for humanity. A "reset" of sorts.
After all, many will lose weight and get outside and build things and create. They will get healthy and find purpose. They will get back to their natural human roots and back to small communities and knowing their neighbors. We could go back to a world with smaller governments and less intertwined political control structures.
I do want that world.
I just don't want it to happen suddenly.
I want it to happen gradually.
Gradually is how my kids can grow up in a relatively free and safe world.
Suddenly will be mad max shit. Walking dead shit.
No, thank you.
I say this as someone that's already done a fair bit of prep. My family will be ok.
It's everyone else I'm worried about.
I love humanity.
I love even the most troubled, brainwashed, asshat troll on social media because I know they are just a victim of their environment and they've been led astray one way or another.
What I've found in bitcoin–and bitcoiners–is this same compassion.
It's tough love.
We attack anyone and anything aggressively because that's how you protect the truth and strengthen ideas.
Softness lets softness flourish. Look at 2020 and 2021.
Hardness creates hardness.
What we need is rigorous debate and skepticism because that is the scientific method. It is the free market. It is nature. And nature always knows best.
Your mind's rigidity is what keeps you vulnerable. So open up. Prepare for the worst and hope for the best.
Constantly challenge what you think you know.
Spend more time thinking for yourself.
Your emotions won't like it because your Ego doesn't like self-analysis, but if you want to make it and survive, this is the only path.
Buy Bitcoin and keep buying as much as you can, and DO NOT SELL.
When you understand history, money, and basic economics, you will be on your way to reaching the Bitcoin Epiphany.
That's when you truly understand what Bitcoin is and how it's already changing the world.
That's when you realize you have to buy as much as you can to participate in the revolution.
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