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- ∞ 🌎 Death, taxes and... bitcoin?
∞ 🌎 Death, taxes and... bitcoin?
If you understand bitcoin, you pity its enemies. Its decentralized and open-source nature makes it an unstoppable force. Come get some.
People hold money because they are uncertain about the future. They save to buy groceries, pay rent, and other future expenses.
An essential characteristic of money is its certainty. Money is certain when its monetary policy and future purchasing power are predictable.
The monetary policy that determines the future of fiat currencies is not certain. Central banks can create more money at any time, inflating away purchasing power. Thus, fiat currencies are both unpredictable and uncertain.
Thankfully, bitcoin provides us with a sound alternative. Its monetary policy is fixed and verifiable.
Critics might point to bitcoins’ current significant price fluctuations, but creating new money without a volatile monetization period is impossible. After the rapid adoption period subsides, bitcoin’s volatility will likely decline significantly.
Then, all thats left is a fixed, predictable and immutable money. Bitcoin is the monetary upgrade we’ve been waiting for. Today represents an opportunity to get in early and acquire the most certain money we’ve ever known.
NEWS
🎉 Happy birthday to bitcoin
14 years ago, on January 3rd 2009, Satoshi Nakamoto set the monetary revolution into motion and mined the first bitcoin block.The digital currency has since taken off, as millions save in bitcoin, and the network settles trillions of dollars in transactions worldwide. Many have tried to imitate bitcoin, but to this day, it remains king.
Hidden in the code of the first bitcoin block ever mined was the newspaper headline "Chancellor on brink of second bailout for banks." The quote references an unfair monetary system where the masses bail out politically connected banks and financial institutions. As its original intention states, bitcoin fixes this.
🏦 Wall Street giant praises bitcoin's track record, sees widespread adoption
Analysts from Wall Street "powerhouse" Bernstein produced a bullish report Monday discussing bitcoin's ability to bounce back with "exponential returns." The report discusses the long-term future of the industry and bitcoin's ability to 'take punches when down' and "clock frontier-tech-like growth." The analysts believe long-term adoption should mirror internet adoption rates- surprisingly high praise from legacy finance.
🚀 Number of addresses holding one whole bitcoin hits ATH
Smaller bitcoin investors continue to take advantage of lower prices as there is a new all-time high in wallets holding 1 BTC. The number of addresses containing one bitcoin is now over 970,000. Despite adverse price action, widespread continued accumulation displays a strong belief in bitcoin's future.
🦈 Mark Cuban calls bitcoin a good investment, disses gold
Shark Tank investor and Dallas Mavericks owner Mark Cuban recently spoke on Bill Maher's podcast about how he considers bitcoin a good investment, unlike gold. In response, Maher stated he's anti-bitcoin, to which Cuban replied, "I want Bitcoin to go down a lot further so I can buy some more. If you have gold, you're dumb as f***."
Cuban also stated that investors don't actually own the gold they buy, implying that only bitcoin provides true ownership. Nice to see from someone who initially was anti-bitcoin himself.
BITCOIN ADOPTION CONTINUES
ANC Pharmacy, one of the biggest pharmacy chains in Ukraine, is enabling bitcoin payments at all of its locations across the country.
The first Lightning Network enabled bitcoin ATM was installed in Australia.
My First Bitcoin, a bitcoin education project in El Salvador, is educating 250,000 students on receiving bitcoin, the lightning network, nodes double-spending, and bitcoin halving cycles.
Binance now allows users to buy bitcoin and other digital assets with Apple Pay and Google Pay.
Leading Presidential candidate in Argentina, Javier Milei, is a "die-hard bitcoiner" who says the 'Central Bank is a scam that cheats good people with the inflationary tax.'
City officials in Lugano, Switzerland, say citizens and tourists can now live and visit the city using only bitcoin, as hundreds of merchants now accept BTC. The city first made bitcoin legal tender in March 2022.
HOW BITCOIN WORKS
Learn one key idea about bitcoin each week. This week: Bitcoin is unstoppable.
Enemies of sound money have their work cut out for them.
As the title of this newsletter suggests, there are few certainties in life.
It may surprise you to find bitcoin on that list.
Yes, bitcoin's price is volatile.
Unfortunately, everything is hard to price in a credit-based economy. Central bankers continuously create, destroy, and then again create even more money in the great balancing act known as the Federal Reserve System.
The fact that bitcoin is a novel monetary revolution that exists in this current monetary system means there will be plenty of volatility in its adoption cycle.
Yet despite any short to medium-term volatility, the Bitcoin Network continues to live. And thrive.
That's because no one can turn it off.
Unlike fiat, bitcoin is open source. Anyone can access and suggest modifications to the code, making it more secure and efficient over time. Nothing in bitcoin is done behind closed doors.
Bitcoin's monetary policy could not be more different than the existing system - where a few unelected central bankers make decisions from the top down.
The open-source nature of bitcoin makes it much harder for any single person or entity to control or manipulate the system. Every participant in the network is therefore incentivized to only implement changes that are good for the network as a whole.
And with no one in charge, there is no central point of failure, which makes bitcoin virtually impossible to shut down. Even if one node (computer running the bitcoin software) goes offline, the network will automatically continue running because someone else in a different location will also be running a node.
If bitcoin is such a threat to the existing fiat money regime, you might wonder why certain powers that be haven't shut it down.
It's simple: they can't. And that's a good thing, because it gives us options... May the best money win.
Ready to get started with bitcoin? Coinbits is the best option. It's fast, safe, and free to create your account.
COIN CHECK
In what year did bitcoin reach a $1 valuation?
2020
2009
2014
2011
Check your answer at the end of the page.
FROM THE MEME POOL
ANSWER
2011.
That’s all for this week, folks! When you signed up for this newsletter, we promised to act as your personal guide and help you understand what’s happening in the world of bitcoin. What did you think of today’s newsletter? Reply to this email and let us know what you’d like to see more of.
Until next week!
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