Bitcoin is Not the Cheat Code

When you start using Bitcoin, it feels like a cheat code.

Watch 5 minutes of this video. Your mind will open up to Bitcoin. The conversation starts with Max Hillebrand talking about how Bitcoin feels like a cheat code when you start using Bitcoin. But then he adds that Bitcoin is not the cheat code, FIAT money is.

If a centralized party can print money then they have control over the capital of everyone. When money is inflated, the people who use that money as savings are impoverished. Unfortunately, 80% of the people in the world do not have access to investments or the know-how to make intelligent investments. They just save in currency and that currency keeps inflating.

Most of the people in developed countries are financially privileged, and hence they do not understand the need for something like Bitcoin. If you take a look at Argentina, they have gone through rapid inflation people lost their savings and the banks have limits on how much money you can withdraw from ATMs.

When too much power rests with too few hands, it is bound to get abused. Money is a public good and a few people take authority on how much money should be there in the economy. Bitcoin is a cure for centralized money control. Bitcoin makes money a consensus rather than something that is forced upon you. Bitcoin is freedom money. People do not understand it. They will be forced to understand it in a hyperinflationary environment.

A lot of people say that Bitcoin doesn’t have any intrinsic value. But fiat money also doesn’t have intrinsic value. At least Bitcoin is scarce. The other is not. Money is just a representation of value. Something is treated as valuable when people give value to it. Millions of people have come together and come to an understanding that Bitcoin has value. As long as people are accepting Bitcoin and want to accumulate it, it will retain its value.