Bitcoin
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BTC · 4w

You Are Not Too Late To Become Wildly Wealthy With Bitcoin

When I discovered bitcoin some years ago, I thought I was woefully late to the party. In retrospect it’s obvious how hilariously wrong I was. Like Jon Snow, I knew nothing. Most of the price action, technological development, geopolitical consequences —all this was still ahead of me. And as years go by, I believe this to be even more true today. If you’re reading this, you are not too late. This is still the beginning.

“I'm sure that in 20 years there will either be very large transaction volume or no volume.” -Satoshi Nakamoto

One thing becomes clear after years of researching Bitcoin and its effect on the world: Bitcoin cannot succeed just partially. It won’t play second fiddle. Like Satoshi foresaw, it’s all or nothing. Global monetary evolution or irrelevance.

Why is this the case? Bitcoin is money, emerging in a bottom-up fashion, competing with top-down fiat money. Society needs money to smoothly exchange goods & services and to preserve the value generated for future use. In economic terms, money serves the role of being a medium of exchange and a store of value. Now fiat money works quite fine as a medium of exchange (especially in the Western world), but it’s been getting increasingly worse as a store of value over the decades.

US dollar is one of the strongest fiat currencies of the past 100+ years. Yet it has lost 96% of its purchasing power since 1913. Source: Visual Capitalist.

To compensate for this failure of fiat money, people look to other instruments to use as a store of value, such as securities or real estate. Bitcoin thus competes with such instruments as well. Compared to other stores of value, bitcoin doesn’t fall under a particular jurisdiction (such as stocks, bonds, derivatives or real estate) and doesn’t require a third party for safekeeping (such as gold, diamonds or expensive art). These two qualities are sometimes overlooked even though they are as important (if not more) as the reliable monetary policy resul...

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