What Problem is Bitcoin Solving?🤔💭
Bitcoiners,
Actually, Bitcoin is solving a lot of different problems but at the top of the totem pole of problems lies the issue with our current banking system and structure.
Here is an overview of the main problem and workable solution Bitcoin offers so you can better understand its value and increase your conviction in the asset class.
The Main Problem
Our modern banking system is pretty good.
Transacting money is much easier now than it ever was in history, such as sending money to friends via Cash App, but it is still flawed. The flaw lies within the large banks who control the issuance of monetary currency and the processing of transactions.
The large banks could be corporations such as Bank of America or government-backed banks such as the The United States Federal Reserve Bank. What do they all have in common? They are centralized. Since they control how much money is put into society, that means we must trust them to act responsibly.
In 2007, the centralized banking authorities became too greedy. They did not act responsibly with our money. This led to a market crash that impacted the entire world. Unfortunately, the centralized banking authorities became too greedy again. Every time they decide to print new money into existence, they are adding to inflation which is not acting in good faith to we the people.
The Solution
Bitcoin is the solution to greedy centralized bankers.
Bitcoin takes the power away from the bankers. With Bitcoin, the bankers can no longer print money whenever they want to such as to pay for a foreign war or a pandemic because they no longer have control of the money.
When you buy Bitcoin, you opt into a monetary system outside the hands of the state. You no longer have to trust the central banks to control the money and act in your favor. Buying Bitcoin or a fraction of a Bitcoin (called a Satoshi or Sat) is a way for you to vote against the current system we are in to ultimately put we the people back in control.
At the core of our civilization lies money. What if we can fix it?
Happy Friday,
-Pod
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Eric Podwojski
Founder, Bitcoin EDU
Twitter: @epodrulz
Disclaimer: This should go without saying: This is not financial advice. This is not investment advice. I write this newsletter for education and entertainment. Act accordingly.
