Do the world’s people still not get bitcoin?

With a western government seizing the funds of its citizens, with countries at war, and their people stripped of their wealth, with around 2 billion (25%) of the world’s population unable to gain access to financial services, how is it that only around 81 million people own a bitcoin wallet?

Is Bitcoin the best kept secret in the world? We live on a planet where the financial system is built on the promises of governments, and their fiat monetary system. 

It didn’t start like that. The bits of paper that are printed with reckless abandon today, used to be tied to real money in the form of ounces of gold. However, that demanded too much discipline of governments who wanted to spend more than they earned.

Nixon took the US completely off the backing of the gold standard in 1971, and it’s been downhill ever since. Trillions of dollars are printed with gay abandon every time it looks as though the system is about to crash. Inflation is rampant as a result, and the purchasing power of the average person is deteriorating at an ever-increasing rate.

The until now mild and harmless government of Canada, turned dictatorial overnight, and came down on its own citizens with police batons and seizures of their bank accounts, just for daring to protest against certain health mandates.

Russian citizens have had financial sanctions levied against them, not because they are taking part in any war, but simply because they are Russian. Perhaps this is an incentive for them to rise up and face their own country’s ruthless police batons.

And then there are the unbanked and the underbanked. Billions of people who have been turned away from banks, or who have not been granted the same access as those wealthier than they are. The current monetary system is run by the wealthy, for the wealthy.

So we get to Bitcoin. According to the world’s media for most of the last few years, it is the most despicable thing. A way for money launderers, financiers of terrorism, and any illegal practise you can think of, to transact outside of the banking system.

Bitcoin was never affected. It is mathematical, and it just keeps doing what it was programmed to do by its creator Satoshi Nakamoto 13 years ago. It has no governments or central banks in charge of it, deciding to inflate or deflate the supply in order to create booms and busts. It just keeps ticking over and another block gets mined every 10 minutes or so.

The US president recently signed an executive order on crypto. In the order the language is all about the “risks” that Bitcoin and other cryptocurrencies will have on the stability of the monetary system. Not a word is breathed on how that monetary system is on the edge of collapsing in on itself in a pile of rotting putrescence. 

Fiat currencies are pieces of paper that used to be promises to pay the bearer in gold when it was demanded. Now they are just spirited out of nowhere by tapping some zeros on a computer keyboard. They are based on debt, and over time they are 100% sure to go to zero.

On the other hand, Bitcoin is sound money, just like gold and silver are sound money. There is a limited supply, and we all know with mathematical certainty when that supply enters the market. It cannot be manipulated by governments, and its decentralised, worldwide nature means that it is beyond any government or agency to destroy.

It may well be argued that the reason Bitcoin has not been more widely adopted is that the powers that be have a stranglehold over the world’s media. What we see and hear has much of the time been paid for by those who hold the purse strings.

Most people still listen to the august and untouchable leaders of banks and financial organisations, who heap scorn on Bitcoin from their lofty perches, but who are ready and willing to pay the next fine for the latest criminal transgression by their bank.

These are the reasons why people still haven’t understood the implications of Bitcoin. The curtain that hides the current system and what is going on behind it has such a veneer of respectability that most will not peep behind it.

Time for the average Joe to get some Bitcoin is running out. Banks and other institutions are starting to buy it themselves, knowing that this is the only way out. The trick is to just buy and hold, as short term fluctuations are likely to shake out many weak hands.

The only path to any kind of monetary freedom is Bitcoin. The sooner the world’s population realises it, the sooner we can all walk down that path together.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.