It is not the objective of this article to explain the Bitcoin protocol nor to convince you of its value.
Dear 20-somethings,
This is a message on a subject that many are mystified about: One: Bitcoin is sound money. Two: Our opportunity cost and overall risk increases by not holding this asset. And three: It is not too late to begin buying and learning about bitcoin.
Orientation: Our Fiat Dilemma
Welcome and congratulations, you have one of the most unique and powerful opportunities granted to individuals who have roamed this planet. You have the opportunity to own and hold the scarcest and best-performing asset of all time while it is still in its infancy. Bitcoin is very much still in a phase of early movers and price discovery. It continues to prove to be a viable alternative to traditional investments (such as fiat) as it barely passes a 1 percent adoption rate worldwide.
Fiat: a government-issued currency that is not backed by a commodity such as gold.
You might be like me, a recent college graduate who has just entered the workforce. Let’s first acknowledge that we have won the lottery of life by being able to read and access this article online.
Secondly, as individuals, we are living in unprecedented times with influence and media coming at us from all possible directions. Also, like me, you might be adjusting to the professional world and a new type of personal and financial freedom. I will make the following two assertions that are not original concepts but might be unfamiliar when applied to our new situations. One: We are new members of the broken and overleveraged world of fiat. Two: If we don’t acknowledge our situation and take action, we will fall victim to a cascading hyperinflationary world that will devalue our hard-earned incomes and savings.
Purchasing power of the U.S. dollar over time (1970 to 2020).
Without getting too technical and long-winded, I want to assert that our current framework of money is unsustainable, unbalanced and quite…
