Some people still wonder why Bitcoin is essential to the future of humanity.
Just a few days ago, Jim Cramer made a fool of himself by declaring that “Bitcoin has done nothing for mankind”.
For Jim, but also for all those who still refuse to study the why of Bitcoin, I'm going to try to open their eyes so that they understand why Bitcoin is essential for the preservation of human rights.
All in the hope that these few lines will inspire them to study Bitcoin further, because that's the key!
It's clear that governments the world over want to do away with cash. Some countries are more advanced than others in this strong trend, but they all want the same thing for the future: the disappearance of cash.
Cash payments are becoming increasingly rare, and everything is being done to favor credit card payments, whether online or in the physical world. This should make you wonder about the implications of a cashless society in the future.
A cashless society where money is controlled by governments, and therefore totally centralized.
As a citizen, what would this mean for you? You would immediately lose your right to financial privacy.
Some people will make the mistake of thinking that this is no big deal because they have nothing to hide since they're not doing anything illegal with their money. This is the reaction of the majority of the general public. Unfortunately, this is a very serious mistake.
The moment you lose your financial privacy, you give even more power to governments and corporations. For these entities, what you buy and sell with your money says more about you than your own words.
When you purchase with cash, the merchant has no information about your identity. Conversely, when you purchase with your bank card, it's a disaster for your privacy, as the merchant can accumulate a whole heap of data about you. Worse still, this data is cross-referenced with other data about you obtained through other purchases or on other Internet platforms, giving a slightly more complete profile of you each time.
Eventually, without you even realizing it, governments and corporations will have succeeded in creating a complete profile of you and your habits.
On the other hand, there's Bitcoin. Bitcoin is a Peer-to-Peer Electronic Cash System invented by Satoshi Nakamoto and which has been operating virtually non-stop since January 3, 2009.
Bitcoin frees you from unnecessary intermediaries when making a payment. No more intermediary banks collecting data. No more banks charging you exorbitant fees to make payments. No more intermediaries like PayPal or Visa who also take their share of fees.
With Bitcoin, you're in control. There's no need to trust a third party - everything happens directly between two people. This means that by using Bitcoin for your payments, governments and corporations can't accumulate all that data about you. Of course, this requires you to take certain precautions in your use of Bitcoin, but Bitcoin makes it all possible.
In the future, it seems clear that the general public will be faced with 3 options:
- State Money
- Corporate Money
- People's Money
We've seen that Facebook (now Meta) tried to move in this direction in the past with its Libra digital currency project, which was quickly killed off by the American authorities, well aware of the danger to their power, which is intimately linked to the US dollar.
You've understood that Bitcoin is People's Money. It's your way out of the current system, which is flawed and not fixable.
Despite the incredible success of the Bitcoin revolution so far, Bitcoin is still in its infancy, as very few people on earth have understood the why of Bitcoin and are using Bitcoin.
Yet the Bitcoin revolution must survive and thrive for the good of all humans. If the Bitcoin revolution reaches its full potential, all humans will have access to money with the following characteristics:
- Bitcoin cannot be censored by the authorities.
- Bitcoin cannot be devalued by governments. Bitcoin supply is hard-capped at 21 million units no matter what.
- Bitcoin cannot be manipulated by corporations. All Bitcoin users are equal.
- Bitcoin cannot be easily monitored.
- Bitcoin is global. Bitcoin transcends borders.
- Bitcoin is accessible to everyone, with no strings attached. Anyone can use Bitcoin, but what's even better is that anyone can (and should) participate in the network by becoming a node of the network to verify everything for themselves. Don't Trust, Verify.
With its unique characteristics, Bitcoin helps every human being preserve their fundamental rights: privacy, banking, freedom of speech, and savings.
With Bitcoin, everyone can express themselves freely without fear of having their money seized. Everyone can have access to basic banking services, which is essential in Africa, for example. You can save again without fear of inflation destroying the fruits of your labor through an infinite fall in purchasing power over time. You can transact with anyone, anywhere in the world, for any amount, without asking anyone's permission. In the Bitcoin network, your money is really yours. The decentralized Bitcoin network makes it all possible.
The next time someone tells you that Bitcoin has done nothing for humanity, you'll know what to say. Bitcoin is an opportunity for humanity, and it's up to us to seize it.