Never in all of economic history have we ever seen something so innovative as Bitcoin, not only to make digital payments but for being a store of value too.
The best part of Bitcoin, and the digital currencies, is the possibility of creating a good income no matter what place you are living, no matter who you are or what is your gender people can invest in Bitcoin and receive a good profit without worrying about their economical problems.
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In this text, we will understand more about if Bitcoin makes the revolution on digital payments?
What is the Bitcoin revolution?
I think the Bitcoin revolution means when people from different countries create their own business using this digital payment to help other people to make money online without worrying about difficult situations in their country’s economies like inflation, and recession.
Bitcoin alone can’t do anything, but if we see how El Salvador citizens are using this digital asset to survive, and create new business we will realize how important is the good the ethical use of Bitcoin if it’s consistent with the theory of economic development.
The ideology behind Bitcoin
The Bitcoin revolution is not an exception to the historical lesson that all revolutions begin by propagating an ideology.
However, you might be wondering: “What is the Bitcoin ideology?”
One word only: Libertarianism!
Bitcoin was created as a purpose of people running away from corrupt leaders, and corrupt governments; it’s the people’s money because it’s the only currency that you can use anywhere in the world with privacy, and security.
This doesn’t imply that you or someone with a different worldview can’t grasp Bitcoin, but it does imply that this virtual currency will always be used to shield the economics of the populace from corrupt or dictatorial governments.
We are living in an economical revolution!
And differently than the majority of revolutions made in the past we don’t have to use violence, Bitcoin is a silent economical revolution to set free people’s economy making your enterprises and assets more successful by employing patented technology to enable a new kind of anonymous financial transaction.
Additional note: Always do your own research before creating an account on Coinbase, Kraken or another Exchange.
I’m not a financial advisor but I have positive thoughts about Bitcoin, and how it can improve the global economy.
Is this the end of paper money?
Many governments around the world have manipulated the market in a way where the production of fiat money causes uncertainty, and inflation to destroy the economy from within.
Not only that, but fiat money is overused, which means that more and more trees are being cut down to make paper so that more money can be printed.
The economy, and ecology will suffer greatly from this devastating outcome since it will cause everything and everyone to suffer.
Of course, because of this bad effect something has to change this crisis, and this thing is: Bitcoin!
With Bitcoin people don’t have to cut more trees to generate income, and even with the statements that Bitcoin is destroying the environment some good projects are getting attention to people to mine Bitcoin without destroying the environment
It’s not the end of paper money with Bitcoin, but if people use more digital assets than other fiat currencies could be the beginning of the end to all fiat currencies in the world but remember that this is a speculation in a long-term way.
But we don’t have to worry about a more volatile world since economies all over the world with Central Bank partnerships are creating more, and more CBDC’s to stabilize their economies, together with stablecoins too.
Bitcoin Revolution: Africa example
If you ever studied about the African continent you will notice that this coin is helping everybody in Africa without bank accounts.
National/International governments are stealing people’s money with different methods in Africa, this means that we can see a good decentralization in this continent, especially in the poorest countries in Africa.
Nigeria was one of the few countries in the world to adopt eNaira as a CBDC, however even if some adoption the majority of the people don’t have adopted this digital currency because they think the government will use as a way to control, and take away their freedom.
At the same time, in other countries people think it will help Bitcoin adoption.
We can notice how important a subject is when people who study have a big diversity of ideas about it.
Additionally, you should conduct your own research before relying on any study, book, lecture, or video you find online.
Remember to take care, and build a portfolio thinking in diversity instead of fast money by investing in variable income. Bitcoin is good to store the value of your money but gold, and silver are good at the same time(together with US stocks)!
Pros and Cons of Bitcoin
Pros #1
It’s a payment method, and at the same time works as a digital asset that people can store value, and invest their money to make a better income.
Satoshi Nakamoto notices that fiat currencies are not perfect to store value because of inflation, and it’s impossible to use Euro, Dollar, and/or other fiat currencies without paying fees to Exchanges.
Bitcoin can be used anywhere in the world!
Pros #2
Unlike fiat currency who is impossible to solve their environment problems, many crypto miners are researching to new ways to mine Bitcoin without destroying the climate.
The process still slow but at least we can see a future; another good project to mine who is green friendly is sETH the new version of Ethereum.
Pros #3
I don’t know about you but I don’t like when governments can view all of people’s financial transactions.
I already agree that it is critical to combat both traditional and emerging forms of crime.
However, it is also undeniable that as time passes, more and more ineffective solutions to these heinous crimes become available.
Bitcoin uses blockchain technology in your digital transactions to safeguard your privacy while also promoting financial independence.
It is the marriage of the beneficial and the enjoyable!
Cons #1
The volatility of Bitcoin can be bad during a bear market (and for memecoins it’s worst), but you only need to make a DCA investment (Dollar Cost Average), which means that you always buy fractions of Bitcoin with the same amount of dollars over a period of time. Keep in mind to buy low and sell high!
There aren’t many negative aspects of Bitcoin, but I need to remind you that!
Cons #2
It depends on the economic context!
This part is not only about Bitcoin but it’s a result of globalization which affects the cryptocurrency market too.
There are good chances to Bitcoin adoption when we read positive news about it, a good example is when a country like El Salvador adopts the Bitcoin as their official currency of their country making Bitcoin more attractive to investors eyes; but if a company like Celsius bankrupt this is terrible for Bitcoin, and all altcoins as well.
A good investor must have a trained mind to analyze the market data of the day, and all the trading movements of the Bitcoin price chart to get a better view about the economic situation on that day.
Cons #3
The internet and electricity are essential to Bitcoin!
Although the internet is a worldwide phenomenon, there are still certain developing nations and remote regions of the world without access to it.
Without the internet, all other digital assets simply vanish and have no value, which is a concern that doesn’t just apply to Bitcoin.
Conclusion
The unstoppable phenomenon known as bitcoin exists to aid individuals in managing their finances in order to avoid inflation and other economic issues.
Reading websites like Cointelegraph, CoinDesk, etc. as well as financial books about cryptocurrency is a fantastic approach to keep your knowledge current.
Author: João Luiz Flores Da Silva
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