My Late Night Bitcoin Epiphany
In a late night fever, I had to explain to my friends the importance of the mission of Bitcoin and the economic clarity it provides.
Friends,
I just had an epiphany that has finally convinced me why I will be buying more bitcoin.
My epiphany is as follows: The only investment vehicle available on the market today that cannot be, will not be and has not been manipulated, so as to be a reflection of true market fundamentals, supply and demand, and true value is bitcoin.
Companies on the stock exchanges can buy back their stock with inflated dollars and they can split their stocks. The gold and silver market is manipulated because there is more "paper silver and paper gold" than there is actual silver or gold per each paper shareholder. Bonds keep issuing more debt and their real rates are negative. Real estate and other hard assets are overvalued and their over valuation is a direct reflection of a hyperinflating dollar, when priced in bitcoin. The notion that everything is getting more expensive cannot be further from the truth. The real truth is that the dollar is getting hyperinflated, or put differently, the dollar is getting weaker. No currency, since the Greek drachma to the Roman denarius, has ever withstood the test of time because they have all been stripped of their value through debasement and hyperinflation. The dollar's days are numbered.
Bitcoin is a direct reflection of a hyperinflating dollar, stock market and economy. This is the main reason why it has achieved such a high value and would have achieved it faster if more people had understood its value and exploitative implications to the world monetary system sooner.
It took me several months to come to this conclusion and I now see the true beauty of Bitcoin. I owe my "rabbit hole experience" to the many smart people who have paved the way in educating people about Bitcoin. I owe both the Bitcoin naysayers and the Bitcoin supporters my deep thanks for helping me achieve Bitcoin nirvana.
Bitcoin is the answer to our economic problems and has been in front of our very eyes for the last 12 years. Bitcoin is a trojan horse that has strategically infiltrated the world and will end up exposing the weaknesses of all world currencies.
For these reasons, bitcoin will someday be valued at way more than $1 million dollars per bitcoin. At its core, bitcoin is the best store of value despite its continued, albeit lessened, volatility. The volatility will continue to lessen as more people adopt it as a store of value and realize how transformative it will be to the world. It is a better store of value than gold and silver because it cannot be manipulated or devalued by the issuance of more paper assets against its finite amount of 21 million bitcoin. Although I foresee ETFs and other market instruments coming to the forefront to try and manipulate bitcoin, the fact is that there will be and will only ever be 21 million bitcoin in existence, ever.
I am convinced that bitcoin will either be the next world reserve currency or will be used as a "bitcoin standard" by which all countries issue their central bank digital currencies (CBDC) against. Worse-case scenario, once all modern-day currencies collapse, new CBDCs will just replace the old currencies and governments will hyperinflate their respective CBDCs. The latter scenario has been happening for thousands of years and will more than likely and sadly be the end result, although I would like to give man the benefit of the doubt. The only consolation for such a result is that bitcoin will still be in existence and will be the true measure of whatever CBDCs come into the world.
The irony behind bitcoin is that it is the best store of value and just so happens to also be the best investment opportunity of a lifetime! This will truly be the greatest wealth transfer we have ever seen in our lifetime since 1932 when Franklin Delano Roosevelt stole 35% of America's wealth by devaluing the dollar against gold, at the flick of his fingers in one day. In all reality, the most recent transfer of wealth has been happening since 1971 when Nixon took us off the gold standard and allowed dollars to be inflated into perpetuity, alongside American's hard-earned labor.
I will finish by saying that this is not investment advice but merely my "early morning epiphany" that I had to share with my friends who have been listening to me "evangelize" about Bitcoin these last few years.
Good night,
Jeremy
This is a guest post by Jeremy Garcia. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.
Read more: https://bitcoinmagazine.com/culture/my-late-night-bitcoin-epiphany
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