Why can’t people deny bitcoin’s best features?

Governments, financial institutions and crypto-skeptics have spread misinformation about Bitcoin. As soon as the price drops by 3%, the referees start lining up.

But Bitcoin is gaining market share, growing in popularity and reaching new territories despite haters, critics and doom and gloom.

Recently, the price dropped from the all-time high of $64,000 to the current low of $33,000. For the skeptics, this is a chance to feel righteous and declare an instant triumph; for the investors it is a chance to steal.

It’s a problem that affects all forms of investment capital, from US currency to gold to the stock market and bonds. Despite the 50% decline, Bitcoin has a chance to reach new highs in the not-too-distant future.

This upheaval is par for the course in a nascent asset class where volatility is still quite high. However, since its inception, Bitcoin’s value has increased by an average of 200% annually.

Several arguments are presented here to support the claim that Bitcoin is unstoppable.

One, it is used worldwide as a medium of exchange.

The euro was first used in trade in 2001. It was an exciting experience for many. The German mark, the French franc and the Italian lira suddenly disappeared and were replaced by completely new currencies.

Because of its excellent properties, the dollar has become the de facto currency in many countries. This is problematic since these nations have little control over US monetary policy. Compared to pesos or Sudanese pounds, it is an improvement, but still not satisfactory.

The key is to avoid using fiat currencies like US dollars or euros. Instead, use a cryptocurrency that is not controlled by any central authority and cannot be depreciated or inflated at will.

This is what bitcoin aims to do. A worldwide, decentralized currency that will eventually replace the dollar.

An inflation-proof investment

Gold has historically been used as an inflation hedge, but it is not without disadvantages. Difficult to move around, acquire, verify and lock down.

When you invest in gold, you have to hold it in custody, get approval from a third party, get it rehypothecated and risk having it seized by the authorities.

Fortunately, someone came up with a version 2.0 of gold.

Bitcoin has several desirable properties, including its transparency, fungibility, security, portability, and immutability.

It is no surprise that capital is reallocated. Investors of all stripes, including pension funds, governments and individual citizens, are ditching gold in favor of bitcoin.

Demand exceeds supply, making this an investment of lasting value despite occasional price fluctuations.

Real inflation could approach 15% over the next few years due to all the money creation going on, making it extremely dangerous to hold cash right now.

Third, there is nothing more suitable available.

The surroundings are not exactly reassuring. The shameful decline of the dollar, the precipitous collapse of the stock market, the relative stability of gold, and the high volatility and low liquidity of the real estate market all point to a dire future for the dollar.

From the right moment, Bitcoin is the safest option available. There is no way around paying it, even if prices don’t rise much in the next six months. As an investment, it is second to none, and I wish there were others for diversity’s sake.

Michael Saylor says it well when he asks whether one should diversify into a sinking ship.

We have all witnessed the potential damage that Bitcoin’s revolutionary technology can do to established markets. The Internet has already demonetized the travel, publishing, film and music industries; bitcoin will do the same for the banking sector. Don’t put your money on a loser

Bitcoin is widely accepted, has a low inflation rate, is decentralized and is easy to buy and store. The absence of rivals has contributed to the success. I would upgrade if an improved version was available.

The only option for emerging nations

Currency devaluation is a problem in many countries, including Venezuela, Zimbabwe, Sudan, Argentina and many more.

Imagine being paid in Venezuelan bolivars, which have lost half their value by the time you receive them.

For decades this has been a major difficulty for expanding economies, but now there is a solution. All those who depend on stable money to save, invest and store value can breathe a sigh of relief knowing that a deflationary currency that cannot be seized, depreciated or inflated to nothing exists.

As a result, Bitcoin has been accepted as legal tender in El Salvador. It is the ideal method to end manipulation, curb inflation and bring stability. The algo affiliates is a trading bot that helps many traders to earn.

It will have a domino effect on many other nations. The governments of Panama, Paraguay, Uruguay, Brazil and Argentina are all considering legalizing Bitcoin as legal tender. It has already become the de facto currency in certain countries, such as Venezuela and Nigeria.

Strangely, such a great and seemingly simple solution has taken so long to be implemented. Using Bitcoin as a substitute for dollars or euros, which works to some extent, is one thing; doing it with the bolivar, the Sudanese pound or the Argentine peso, on the other hand, is a no-brainer. It will undoubtedly be much more successful than previous attempts at monetary reform.

Five to two billion people do not use banks because they do not have accounts. If they are sufficiently isolated, they probably have no way to save money, use credit or access cash.

And another 4 billion are “underbanked”, or without access to adequate financial services. Predatory lending, exorbitant fees and poor customer service are just some of the problems they have to contend with.

Easy to handle

However, that time is over. With cryptocurrencies like Bitcoin, you can carry all the tools you need to manage your finances in your pocket. Coins can be bought, sold, borrowed, lent, traded and bet in a decentralized and permissionless way. With just a $50 phone, anyone can join this community.

This paves the way for billions to save, invest and trade risk-free, permission-free and at low cost. Suddenly they are part of the global financial system, giving them a chance to lift themselves out of abject poverty.

Buying groceries in El Salvador is already possible with bitcoin since the currency is accepted by most shops and restaurants there. People who use it are not necessarily tech savvy, but they must realize that it is a superior type of currency.

precious few

Only 21 million Bitcoins were ever created and 7 million are believed to have been lost. That means we only have 14,000,000 to go around.

The availability of something is vanishingly small. There are more billionaires in the world (55 million) than bitcoins. Therefore, the price will skyrocket when these people start staking their claims.

There is no other direction for a rare and sought-after asset like gold or Bitcoin to go up.

The availability of the dollar has caused it to lose almost all value. As more are printed, each new bill is worth less.

The days when the common person can afford an entire Bitcoin are numbered. When the value of one bitcoin becomes unmanageable, Satoshi, a fraction of a bitcoin, will become the standard unit.