As a retired boomer, my impressions of Bitcoin coincided with my transition away from the traditional financial system. It is as if I was suddenly awakened, liberated from tyranny, and set on a new course in tune with present and future realities. Let me explain. I was . . .
Awakened
. . . from the stupor of a lifetime of participating in the financial marketplace that feeds on people like me and my hard-earned savings.
Liberated
. . . from the tyranny of the so-called wisdom of self-serving financial experts whose dictum is “Buy and hold.” / “You can’t time the market.” / “Over time, the market goes up — see the graph of historic growth?” / “If you cash out and wait for the risks to pass, you will miss the days with the greatest increases.” Are these scare tactics that financial experts use to keep people invested in THEIR funds? Methinks so.
Traders, brokers, and financial advisors take rich salaries, work in beautiful offices in glass skyscrapers, earn income for shareholders, and pay dividends to the richest of the rich. That money comes from somewhere — from people like you and me.
Disruption
Stepping away from that system, I had to invest time to learn about the marketplace. The greatest lesson is the history of how and why currencies are created and why today’s dominant fiat currency, the U.S. dollar, is collapsing: years of quantum easing (printing money) increases the money supply, which reduces the value of everyone’s savings. This is how our current economic bubble is sustained — not averting a crisis but delaying the inevitable crash that will be bigger and far worse than anything we’ve ever known.
During this time of re-learning, I have come to understand we are charging rapidly toward the present and future reality of a digital world in which digital transactions are vital. The existing system of banking and investments resists change. Banks become irrelevant. Money and savings need not be transacted nor stored in antiquated systems that suck wealth from people.
Future Comes into Focus
During my awakening, my liberation from financial tyranny, and my learning about present and future realities, I learned about Bitcoin.
Like most people, my first impression of Bitcoin was incredulity. What an awful lot of money to pay for one coin! Fortunately, the digital world embraces fractional transactions. One day, we will talk in terms of Satoshis.
Bitcoin Basics says it’s not too late. Buy as much as you can because there will come a time in the not-too-distant future when all the cash we have won’t be enough. Then, people will work for Bitcoin.
Cash currencies will go the way of the Dodo. Images of Germans in the 1920s pushing wheelbarrows full of useless cash to buy a loaf of bread will be relevant once again.
As a retired baby boomer, I expect and hope my resources can continue to meet my needs during the coming years. But the more I see, the more convinced I am that this economic situation won’t get better until everyone across the world converts to a cashless digital world of cryptocurrencies. Yes, buy Bitcoin. Cash may not get you a house or put food on the table. But Bitcoin will.
Unfortunately, we live at the apex of an age in which pleonexia — the crush for greed — makes our world a less compassionate place than it ought to be. Wouldn’t it be better for everyone if there were a greater readiness to work together and help one another? Maybe then we wouldn’t need to experience great upheavals and wars.
The greediest, who stand to lose the most will say Bitcoin is an agent of disruption, which would be inaccurate. Bitcoin is an agent of progress, and now is the time to embrace it.
Written by an Anonymous Subscriber of Bitcoin Basics
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Bitcoin: Agent of Progress was originally published in The Capital on Medium, where people are continuing the conversation by highlighting and responding to this story.
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