My Bitcoin Journey
I’m not a typical advocate for Bitcoin. At 53 years old and spending my career in education not finance, I don’t pretend that I understand the white papers. Nor do I understand the complexities of Wall Street. However, I educate myself regarding my personal finances.
When I hit my mid forties, I seriously began thinking about my retirement. During this time, Wall Street required a bail out in 2019. According to the Washington Post, $135 billion dollars went to companies who had made poor decisions. Many people believe that social security will run out of current funds by 2035.
My conclusions with these two bits of information were that companies always get bailed out regardless of their poor decisions and that there may not be social security when it is time for me to receive benefits.
So my husband and I explored other avenues. Thus I learned about bitcoin.
This is an oversimplification of its ability to function as different vehicles.
As a Commodity- There are future markets for bitcoin like there are future markets for soybeans, corn and fossil fuels. Interesting to note that currently bitcoin has the largest number of short contracts in its history.
As a Store of Value- Much like gold it can be a store of value. Now I know there are many “gold bugs” who would attempt to rebuke the statement. However the fact is that bitcoin is worth more today than it was at the beginning of its inception. It really is that simple. A bitcoin will always be one in 21 million. That is also that simple.
As a Currency- This is where even more people will argue different points of view. These are simple examples, my daughter has used bitcoin to pay for art supplies and my son has purchased parts to build his computer.
When I watched what happened on Wall Street with Gamestop, I realized another attribute to Bitcoin. The people who short it are about making money. The people who go long are about building a better world. A world where my access to the asset is the same as the richest man in the world. Somebody can’t decide to make more because the companies on Wall Street were “too big” to fail. That a bitcoin is a bitcoin all over the world in every community for every family. The one thing that Wall Street forgets is investing in community is the most beautiful investment one can make. It is why so many people volunteer, make a casserole for a family suffering a loss and send cards to people who are sick. Bitcoin isn’t just a personal investment. It is an investment in a better world.
I hope that you will explore these links to learn more about Bitcoin.
The bitcoin and open blockchain expert
Bitcoin Investing Made Easy
Bitcoin — Everything there is over 21 million
