Many countries haven’t already recovered from the Great Recession of 2008. In Portugal, we were wiped out of our independence when the IMF ruled our finances for 4 years. Our Greek brothers suffered even worse humiliation.
What happened to all those people responsible for the derivatives and CFDs orgies?
Nothing.
They all went back to play the same game as always, keeping the benefits for themselves. And increasing the gap between the richest and the poorest.
At that time, people completely lost their faith in their governments. Nothing was the same after 2008.
Today, more and more people see Bitcoin as the new gold. It’s the next safe-haven in a corrupted system that undervalues our time and energy.
Bitcoin trust
Unlike printing dollars and euros, the most crucial trust proof Bitcoin offers people is the limited supply. Only 21 million Bitcoins will be produced until the year 2140.
Unlike central banks’ oligarchy, all the more than 2 billion human beings called the unbanked will have the chance to transact cryptocurrencies. Also creating value to their energy, time, and work, through a simple cell phone.
Only 20% of people that live in Africa have bank accounts. But fortunately, two-third of them have access to cell phones.
Cryptocurrencies are different from current money because they are regulated by mathematics (or more commonly called- the code). The software that executes this code runs simultaneously on computers around the world.
Even if one or more of these computers is misused in an attempt to corrupt the bitcoin network (such as to steal money), the collective action of the others ensures the integrity of the system as a whole.- Ari Juels and Ittay Eyal in the conversation.com
The wealthiest 1% have 82% of the world’s wealth. Just last year, billionaires increased their collective net worth by 762 billion dollars. That’s enough to end extreme global poverty 7 times over. It’s disquieting to know these numbers.
It’s ridiculous, as human beings, to be complicit in such a phenomenon.
I’m a capitalist and believer in free markets, but this inequality is unspeakable.
Capital elitism should come to an end as everyone gets access to cryptocurrencies in the long run.
New fintech bankers are those who suffered the 2008 consequences. New fintech bankers are those who saw their parent’s savings vanish by the arrogance of the oligarchs. These bright young entrepreneurs are the first believers in the cryptocurrency system. They believe in a suitable alternative against central banks’ monopoly.
Young entrepreneurs use the code and mathematics as their weapons to fight inequality.
At first, the creators, then the early adopters, then the mainstream, all start to believe.
Michael Saylor, the CEO of Microstrategy, understood the intrinsic libertarian power of Bitcoin. And put in his company’s balance sheet close to 1 billion dollars in Bitcoin.
After Saylor came Elon Musk with 1.6 billion dollars. Also, hedge fund managers like Paul Tudor Jones and Stacey Druckenmiller allocated 1% of their portfolio in BTC.
Five thousand years ago, before gold had two parties trusting each other, the rest of the world trusted in shells, spices, or direct exchanges.
Only when too many people started to trade gold, the trust issue was solved.
With Bitcoin, we’re facing the same phenomenon. Of course, there will always be resistance.
First, by those who have the power and do not want to lose it.
Second, by those who are accommodated to the system and often resist changes.
Once you understand Bitcoin, you start to understand everything else. Then you see how ridiculous this system is. Once I believe in Bitcoin, I started to believe in my freedom. We deserve to be free because we were born with that freedom. Nobody was born to be own by anyone else. And Bitcoin gives us that right back.- Dan Held, Growth Lead at Kraken
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Source: https://medium.com/the-price-of-tomorrow/why-bitcoin-is-a-purely-trust-issue-7b82ba4bce3c?source=rss——-8—————–cryptocurrency
