Why Bitcoin: the Formula for Financial Freedom

By 1 Millionxbtc

DO YOU WANT TO GET YOUR FINANCIAL FREEDOM TO LIVE AS YOU WANT?

 

Well then, you have to know that there is only one option for it. A very good option, by the way. And it's called bitcoin. Financial freedom means not depending on anyone, and bitcoin is the only element of value that cannot be manipulated by banks, governments, or individuals.

 

But it also has to provide you with the financial solvency you need. In just 10 years it has come to be worth tens of thousands of times more than the dollar. And its past allows us to look forward to an even brighter future. Here you will find a list of reasons and arguments why bitcoin is the best tool to achieve financial freedom

 

• Discover why bitcoin does not depend on anyone and cannot be manipulated by any entity.
• Know the benefits that bitcoin brings you as a universal currency.
• Learn to understand how Blockchain works to allow you economic freedom. .
• Understand technicalities and principles such as the Lindy effect, Metcalfe's law, Triffin's dilemma ... .
• Learn why bitcoin improves fiat money, gold and any other item of value.

 

WHY CAN BITCOIN GIVE YOU THE SECURITY AND FINANCIAL BENEFITS YOU WANT? IN THIS BOOK YOU WILL FIND ALL THE REASONS

• Language: English
• Publisher: 1Millionxbtc
• Release date: Mar 8, 2021
• ISBN: 9781393943136

Book preview

BECAUSE THE BITCOIN IS YOURS, AND ONLY YOURS

WELCOME TO INDIVIDUAL MONETARY SOVEREIGNTY

Do you think your money is really yours? Because if you think so, you have a problem. The first thing you have to ask yourself is where you have most of your wealth. If you are one of that vast majority of mortals, the normal thing is that you have it stored in the bank. We have all normalized the fact of keeping our assets in a bank. In fact, payroll is normally entered automatically in it, and the self-employed enter the day's charges each day to keep their money safe, if the charges have not been made with a card and have gone directly to the bank account. . The normal thing is to have the money stored in a bank, and we have naturalized that opinion because we think that it is more protected there. Which brings us to an uncomfortable first truth: to begin with,

That, assuming you consider it your money. Obviously, you believe that even if it is in other hands, it is yours because you can get it back whenever you want. You can go and get it out without anyone stopping you. Sure? To begin with, ATMs have a limit of money that can be withdrawn per person per day. You heard right: a limit. They are imposing their conditions on you so that you can have your money. It is true that if you need more liquidity, you can talk to the staff and agree on it, but you already have to beg and justify that you want to have your money.

Because is it really yours? Do you know what is happening with that money that you have stored in a bank in an account or in any form of savings? Most banks use it to invest. They take advantage of the millions and millions of dollars of their users to make money investing, they keep the profits of the investment, and then they give you back your share. That if they do not lose it with their investments. Do you remember the crisis of 2008? Many banks erred in these practices, and not only did they not profit from them, they also lost their clients' money. Many of them had to file for bankruptcy. Lehman Brothers was the most notorious case, but of course not the only one. Up to 400 banks have failed since 2008 in the United States alone, compromising up to $ 600 billion from their clients.

And what happens when a bank cannot pay its customers back? In some countries, the government has a fund to cover these losses. But that fund has a limit, an amount that cannot sustain world crises like the one in 2008, so it is recovered through bailouts with international aid or public money.

In the case of the United States, it is the FDIC, an organization independent from the government, which is in charge of insuring the money deposited in banks. But it does so with up to a maximum of $ 250,000 per depositor and with a stipulated maximum amount. That is, limits and more limits.

It often happens that these limits cannot alleviate a global crisis and the money is simply given up for lost. Yes, that money that was yours, in the hand of another, is considered evaporated.

https://elpais.com/elpais/imagenes/2017/09/18/media/1505733364_225599_1505733382_noticia_normal.png

Elpais.com graph showing the amount of money that is assumed to be lost and irrecoverable (in red) after the financial crisis between 2008 - 2013. The cases of Spain, Ireland and Germany stand out, each exceeding more than 40 billion euros lost

In addition, in this type of situation where the national economy becomes unstable, a bank may voluntarily decide to stop giving money to its clients just in the popularly called corralito. This means that the ATMs will not work and they will not give you a ticket no matter how much you ask for it. Legally they can do it, under the pretext of trying to stay afloat, they can prevent you from withdrawing your money so as not to go bankrupt by seeing how all clients want to make use of the right to recover their money. This has already happened, for example, in Brazil (1990), Ecuador (1999), Argentina (2001), Iceland (2008), Cyprus (2013) ...

And there is no need for a global crisis for a bank to close committing your money. On a daily basis, smaller entities are absorbed by larger entities, so that your funds have to adapt themselves to the new conditions of the merger. In the end, your assets are more part of this battle between financial entities than of yourself. And many are also the times that their rates and internal conditions change to try to survive or optimize profits ...

But it is also true that there are banks that are not investment banks and that thanks to this they are economically more stable. They are not the majority, but there are. These do not risk your deposited money, but they charge you for the service of keeping it with commissions, often abusive. Since they don't make money speculating on your money, they will have to do it differently. And if you don't want to pay for it, the alternative to that is to keep everything at home, with the constant fear of being stolen or losing it due to some mistake. That is, you decide: live in fear, or pay for the relative security that a bank gives you. It does not strike me as excellent financial freedom to have to choose between two undesirable options.

So, we have the option of keeping the money at home in a safe, or under the mattress as was done in the past, to make sure that our money is really ours. And still, are you sure you can consider yourself to have monetary independence? No. It is true that coins and bills may be in your possession, but it may lose value even if you keep it at home, and in fact it does. With the development of countries, the inflation rate always increases. This means that with the same amount of money, you can buy fewer things. With what until recently you filled the shopping cart, now you are not even half full. That money that is yours, is less and less money because it is subject to an established economic system that you do not control.

And that, if we speak in terms of normality. In more serious situations, governments can devalue their own currency to save critical situations. That is, they can voluntarily make your money worth less. Indeed, you have it in your home and in a safe place, it is yours, but under the conditions imposed by the government, which is the one who emits it, and which makes it very much yours, each time it is different and with less value. Devaluing their currency is a desperate measure but one that those countries that spend more on their imports than they earn on their exports have to resort to. Can you call that financial independence?

Instead, the bitcoin is yours and yours alone. Where are your bitcoins? Cryptocurrencies are part of the so-called blockchain or blockchain. This is a computer registry in which all bitcoin transactions are stored. There are your coins, and you can only use them through private keys. What does this mean? That only and exclusively the owner of these keys can access the coins. This means that, as long as you keep them safely, that will ensure that you have access to your cryptocurrencies without anyone being able to limit your use or access them. No playpens, no loss of funds due to bank failures, no daily use limits or changing commissions.

And if that weren't enough, the value of bitcoin is up to you. Obviously it responds to the laws of supply and demand, and always revolves around a value stipulated by the exchange houses. But if you wanted to sell it to another user at the price you want, you could do it and no one could prevent it. Neither a voluntary devaluation by the government, nor the inflation inherent in any development process would make it lose value.

Ultimately, no one can prevent you from accessing your bitcoins because only you have access to them, as long as you keep the private keys. And nobody can make them disappear because they belong to a network that grows every day, that is in hundreds of thousands of places and that assures