Everyone seems obsessed with it - when it comes to talking Bitcoin. But is it really all that important?
Why are so many concerned with the PRICE of Bitcoin?
Constant blathering on about “percentage off all time highs” and “new lows” is a staple of financial media. Fear propagated in a bid for ratings and viewers.
Because of this obsession with price, the completely miss the value proposition.
99% Of People Understand Dollars (Fiat Currency)
Everyone understands dollars, and its not really hard to understand why.
For 50 years now, the world has been on a full on fiat bender.
No backing to any physical commodity, its simply “trust us, bro.”
Folks in the 70s didn’t have much trust in that initial shift which broke the backing of the dollar with gold. Investors sent the yellow metal to the moon - from $35 an ounce all the way up to $800 an ounce. But once the powers that be got inflation under control somewhat, the fiat experiment continued.
Today, almost three generations have grown up with the Dollar being the only thing they really know when it comes to money.
They understand the value, what it buys, and that it just loses purchasing power over time.
99% Of People Do Not Understand Bitcoin
So its not surprising that people who have only a Fiat Education might be completely clueless about the whole idea of “sound money.”
Ask them if they want to be paid in dollars or Bitcoin, and very few will select the latter.
When you present facts that they could have exchanged dollars for Bitcoin ‘x’ number years ago, and increased their purchasing power, the dismiss it as a scam, a ponzi, or any other excuse that comes to mind.
The bottom line though, is that they are ignoring “The Value” that comes with owning something scarce, something that takes a time investment to understand.
They’d rather watch Netflix.
What Being in the 1% Means For the Average Bitcoin Pleb
If you’ve put in 100 hours or more into understanding Bitcoin, a massive information asymmetry is sitting in your back pocket.
You know the value of Bitcoin.
You know the rise in purchasing power that will accrue to you if you buy and hold Bitcoin for an extended period of time - a decade or more.
And you understand we are in the middle of a monetary revolution, on which cannot be stopped by anyone or anything on this planet.
Now that is the value of Bitcoin!