Bitcoin was created for this Reason
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Americans do not trust the U.S. government to do the right thing. A recent Pew Research Center report says 22% of U.S. adults (down from 77% in sixty years) trust their government to do the right thing.
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Most alarming is that the U.S. government ranks last among the G7 nations (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States).
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Among the things noted as the least trustworthy are:
·?????? Election honesty
·?????? Judicial system
·?????? Military
·?????? National government
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This trend has happened within the past 20 years, when the U.S. ranked number 1.
Why the decline?
There are many reasons from defunding the police to wokeism, however, for this story, my focus is on the financial arena.
·?????? Expanding government intrusion
·?????? Greed
·?????? High interest rates
·?????? Negative perceptions about the economy
·?????? Persistent inflation
·?????? Politically motivated judges
·?????? Scandals within government leaders
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Each area (and more) has cut like water over rocks, eroding the American people's confidence that elected officials will honor their word, do the right thing, and act in their best interest.
There have always been people who do not believe in the government's capability regarding its citizens, and this erosion has been decades in the making.
I point this out because during the 2008 U.S. housing crisis, innovative technical minds said enough, and Bitcoin was born.
The idea of a digital currency that could transact business without banking influence (such as fees and interest) was a wild-hair thought.
Although the concept was far from new, its introduction was timely because of growing distrust in the traditional system.
With little to no government legislation, government agencies waging war on the Cryptoverse, and (in an election year) politicians saying I am pro-crypto, it is no surprise that people are embracing digital assets like Bitcoin.
Store of Value
Investopedia defines a Store of Value as "a commodity, asset, or money that retains its value or purchasing power and does not depreciate."
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Is Bitcoin a Store of Value?
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Investors say this is because its total market capital is over $1.4T, which is up 112% year over year.
Since its launch in 2009 (first recorded trade in 2010), Bitcoin has increased around 179,487,179.49%. (A .01 investment in 2010 would have made you a millionaire today)
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Although scarcity is not a Store of Value, it factors into the price equation.
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One reason Bitcoin is likened to gold is its (by design) cap of 21 million coins. Once the remaining coin is mined sometime in 2140, there will be no more, which (in theory) will hold the price high.
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Traditional investment firms see the value in Bitcoin, and their clients agree.
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Bitcoin spot Exchange Traded Funds (ETF) recently reached the one-million-coin mark, which puts the ETFs' current value at around $70B.
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The value of digital currency
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?Although Bitcoin is an investment tool (which makes sense) rather than a currency, much like gold isn't used to buy and sell, altcoins (any coin that is not Bitcoin) are increasing in currency usage.
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Ethereum, the second-largest cryptocurrency by market capitalization, is finding a comfortable home in merchants' wallets. While transaction fees continue to challenge seamless transactions, it is only a matter of time before the hurdle is jumped.
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I believe that Ethereum is positioned to be the everyday people's currency. The process may be several years away, but (in my opinion) it is an inevitable transition.
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I use Bitcoin and the Cryptoverse almost interchangeably because the Cryptoverse (all digital assets) came about because of Bitcoin.
When I began covering Bitcoin a few years ago, there was cryptocurrency. It wasn't long before innovative minds opened up other avenues like non-fungible tokens (NFT), which led to the Metaverse and online gaming.
I realized my focus on Bitcoin was too narrow, so I began calling it the Cryptoverse.
Since then, decentralized finances (DeFi), Blockchain technology tokenization, and spot ETFs have entered the scene.
Although it isn't Crypto, artificial intelligence (AI) found a platform with several Crypto projects like:
Bittensor --$5B market capitalization
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Graph GRT--$1.5B market capitalization
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Internet Computer--$2.5B market capitalization
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Near Protocol--$5.2B market capitalization
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Render--$3.7B—market capitalization
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Bitcoin is the underpinning of these innovations, perhaps not directly, but its radical idea 15 years ago opened a door that is ushering the 21st century into the future.
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How it impacts everyday people
Bitcoin and the Cryptoverse are moving towards mainstream adoption and will have a (major) seat at the global financial table.
The Cryptoverse will impact all of humanity, which means change is coming and will affect you.
It will take work and a willingness to change, but it will help everyday people find a better life once it is embraced.
It is part of the future global economic landscape and must be something you are familiar with. ?
Education is critical, and intelligent investing is paramount for everyday people to navigate these bumpy roads.
The thought of change often scares everyday people back into old, comfortable living patterns. There is nothing comfortable about being uncomfortable.
However, IF change is to occur, you must weigh the length of your uncomfortableness against the lifetime of enjoyment.
In other words, is it worth the temporary discomfort to avoid a lifetime of complacency and lack?
If your answer is YES, you can follow along and learn how to make a change by being educated in the cryptoverse.
I am committed to the cryptoverse, which offers a path to help you change and possibly find financial freedom.
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Disclaimer: I am not a financial planner and do not offer financial advice. I am an avid student of the cryptoverse who is willing to make the things I learn available to everyday people eager to take a chance, change, and explore your financial freedom in the cryptoverse.