Why Bitcoin is Your Savings Technology Upgrade - What it Means For Other Assets

“Once a new technology rolls over you, if you're not part of the steamroller, you're part of the road,” - Stewart Brand

Why Bitcoin is Your Savings Technology Upgrade - What it Means For Other Assets

Have you upgraded to the latest money tech?

Most don’t consider possible risk that comes with failing to keep up with technology, but it is real. Money isn’t a topic taught widely in school, and for good reason. If those in power keep the population ignorant about the inner workings of the system, they can extract wealth from them for long period of time.

Falsehoods like their idea that there is a “need for inflation” continue to be pushed on the population.

So what happened to our money?

The Problem - Savings Technology Destroyed Fully in 1971

For quite some time, the Dollar was a fairly stable currency unit - a person could faithfully store away dollars to use in the future without losing much of their purchasing power.

That came to a complete end in 1971, when President Nixon closed the gold window. The dollar was now a freely floating currency, untied to any physical commodity. This quickly led to a nasty bout of inflation through the late 70s, as people recognized the currency was no long a stable store of value.

The rush was on - people dumped dollars worldwide and sought out assets that would protect their wealth.

Alternate Savings Technologies Since 1971

Gold was the initial beneficiary from this radical decoupling of money from a hard asset.

It rocketed from $35 an ounce to over $800 in less than a decade. But that wasn’t the end of things.

Assets of all sorts have been used as savings vehicles since free floating fiat became the norm. Houses, bonds and stocks basically have become “savings” since 1971. With what result?

Wealth inequality

Certainly some have had the foresight to ride this out - buying assets instead of staying in cash. But for those who didn’t, and especially for the lower class, this change has been devastating.

But an upgrade to savings technology is afoot…

Technology Advances Whether Are Paying Attention or Not - The Bitcoin Solution

Humans are always looking for improvement.

If the government is failing to help people out, individuals take it upon themselves to create a solution.

Since Bitcoin’s creation, it has dominated all other assets when looking at annual returns measured by the dollar - and it hasn’t even been close.

Many have concluded that the big gains are over - or even that Bitcoin is now going to plummet back toward zero as governments finally “deal with it”.

But this would be ignoring the secret sauce that is Bitcoin - the fact that is is savings technology. Value will continue to move into this tech over the next two decades, and all other assets will be streamrolled in comparison to Bitcoin.

And there is nothing that anyone can do to stop all humans from storing their wealth in this way.