Today, I’m going to talk about one of the greatest things in the world… or at least will be soon.
If you didn’t already know, bitcoin is the most popular form of cryptocurrency. Cryptocurrencies are a type of currency that only exists digitally. Bitcoin isn’t the only cryptocurrency there is, but it’s the biggest one and the de facto standard.
Buyers and sellers can conduct transactions completely outside of the banking system, completely outside of any particular country, and do so anonymously and tax free. You can buy something from me using a cryptocurrency like bitcoin, and I have no idea who you are or where you are located. I just get my money and you get your item.
If that sounds cool, that’s because it is. You’re anonymous, no country can confiscate your money, no country can deflate the value of your money by printing more, you can’t be taxed, and you can buy stuff anywhere in the world, regardless of where you are or how much you travel, since bitcoin is the same all over the planet.
With central banks slowly devaluing and destroying their own currencies, as well as governments’ never-ending War on Cash, bitcoin is now more popular than ever. Bitcoin value has just recently reached an all-time high, at $1193 per bitcoin. (I remember when it was $120 about three years ago!) I expect this to go up as the Western world approaches collapse and as more and more governments crack down economically on their own citizens.
I own some bitcoins and soon I’ll be setting up bitcoin purchase options for everything I sell. (Frankly, this is something I should have done a few years ago, but I’m busy, so fuck you.) Over the next year or two, I plan on converting as much of my day-to-day finances over to bitcoin (or some other cryptocurrency) rather than using US dollars, since Trump clearly wants a weak dollar just like Obama and Bush did before him.
I will still own US dollars as a hedge investment and some liquid savings. I’m just talking here about my day-to-day financial transactions. I won’t be able to shed the dollar there completely either, but the more I can do with cryptocurrency, the better, at least in my view.
Sadly, using bitcoin is not quite as user friendly as I’d like, and it’s a little daunting for new users. Regardless, it’s become much easier in the last few years. There are many sites, services, and apps you can use, but the easiest one is probably Bitpay. You can go there, download the app for free (for computers or smartphones), buy a few dollars worth of bitcoin, and play around with it. This stuff is going to be a big part of your future so you might as well get comfortable with it now.
Do I think bitcoin will be some kind of world-wide standard someday? No. I think bitcoin is the 1.0 version of this technology, and at some point down the road, some other, more superior form of cryptocurrency is going to come along, and that will be the one everyone starts using. I could be wrong, but I think bitcoin is MySpace, and Facebook is coming around the corner soon.
It’s going to be a battle, though. Governments and central banks are furious that cryptocurrencies exist. They can’t tax bitcoin (unless you declare it yourself, but they don’t like that either), can’t regulate it, and can’t track it. Man, that pisses them off. It’s quite likely that bitcoin and similar technologies may become illegal in some parts of the world; not that it will stop it any more than it stops guns, drugs, or prostitution. It will just go underground and people will still be transacting in a free market manner the way they should.
What’s coming down the road is very exciting and will help you become a freer man. I can’t wait!