Where does Bitcoin gets its value from? The answer is: it gets it from you and me. There is no government or individual that places an artificial value on it. Bitcoins value is as organic as it gets. Because of this it has the potential to be a life raft for many peoples diminishing purchasing power problem.
Regardless of how you feel about Putin or Zelenskyy… Imagine being a Russian or Ukraine citizen. You probably didn’t ask for this war. You probably didn’t have a say on what happens next. But because a handful of people decided to fight your country got sanctioned hard or worst literally leveled. Remember there is always someone, another human, just like you, on the other side of that border. That other you is now suffering in ways hopefully you never have to experience.
The effects of this from a money standpoint is this: every piece of money they worked hard to make became worthless practically overnight. The money in their bank accounts is inaccessible because the banks are offline and closed. Even if they did somehow manage to access it, their life savings is not worth the paper it’s printed on.
Now Bitcoin is not perfect because perfect does not exist. Never has, never will. And if you want to be notified of when my disadvantages of bitcoin video comes out, then make sure to subscribe if you haven’t done so already.
Bitcoin is what we call a deflationary asset. Not necessarily because of its price compared to the US dollar or any other fiat currency meaning currency backed by the government even though it has preformed that way over the long term. It’s deflationary because the rate of new supply being minted or as it’s said in the world of crypto “mined” decreases over time.
If you’ve watched this video over here you know that there will only ever be 21 million Bitcoins. What you may not know is that the rate of supply decreases over time. I’ll explain what I mean by that in just a minute but first let me say that not having Bitcoin is a bigger risk to your financial well-being than having it.
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***Below has been added on February 15th, 2023***
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