That's why Bitcoin is your safe haven

The latest events in the world and the crash of banks which could lead to a domino effect prompted me to write this article to make you understand the substantial difference between Bitcoin and the US dollar (or fiat currencies).
bitcoin-btc-versus-dollar-burning-fire-takeover-concept-117133234jpg

– The US dollar is printed by the Federal Reserve while Bitcoin is disbursed as a reward for validating Blockchain blocks.
– The US dollar can be stolen or counterfeit. Bitcoin cannot be counterfeited, but it too can be stolen, as in the case of Mt.Gox, a Japanese cryptocurrency exchange which in 2014 reported the theft of 850,000 BTC (worth about 450 million dollars at the time).
– The US dollar is accepted by the American citizens and by the countries adhering to specific international treaties. The mass adoption of Bitcoin is still far away, for now it is not recognized by the majority of citizens and shops even if the diffusion is increasing.
– Bitcoin does not require intermediation: whoever obtains the coin has a secure way of keeping possession of it, without having to lend it to a bank, and is therefore the real owner of his own coin.
– Transaction times and costs for US dollar transfers can be very high and an intermediary is always necessary, unless it is a cash transfer. Bitcoin transaction times and costs are very low and with the advent of the Lightning Network almost nil.
– With the US dollar it is necessary to trust an entity that guarantees the value of the money exchanged, with Bitcoin there is no need. It is accepted and validated by its Blockchain.
– The US dollar can be seized, but so can Bitcoin. There have been some judicial inquiries that have resulted in the seizure of cryptocurrencies proceeding from criminal or illegal actions. A case that has been much discussed is Silk Road.

– Exchanging the US dollar into any other fiat currency has exchange fees far higher than those for converting Bitcoin with other Cryptocurrencies.
– With the US dollar, the government has greater instruments of control over the economy. Although with
Bitcoin may be thought to leave more room for a more efficient free market equilibrium, in reality this is not the case. Large Bitcoin holders can influence the value of the coin at will through large purchases or sales.
– With the US dollar there is a risk of inflationary spirals, speculative bubbles, growth cycles and recessions, which lead to instability and inefficiencies. Bitcoin mitigates this risk, indeed it is used more where there is a high inflation. Just think of many South American countries such as Venezuela, which have recorded a peak in the use of Bitcoin in recent years. Venezuelans have therefore used Bitcoin to keep their capital safe from the hyperinflation that has hit the country.
– The US dollar is traded daily on other markets and government bonds are purchased by many foreign countries, thus facilitating the use of the US dollar. Bitcoin also crosses borders and can be accepted worldwide.

700-percent-surge-worldwide-venues-accepting-bitcoinjpg
The indiscriminate use of money printing, the excessive public debt of countries, the advent of CBDCs and the continuous increase in interest rates by central banks is endangering citizens' finances (read here an article of mine of the last year on what happens when the Federal Reserve raises the interest rates). The Federal Reserve continues to print money. It can do this indefinitely, as per their admission.
Why are stones worth nothing (like the US dollars)? Because you find a lot of them on the streets. Why are diamonds worth a lot (like Bitcoins)? Because they are very rare (only 21 million BTC per 7 billion people) and it is very difficult to find them on the streets. You have to search, dig and sweat a lot to find one.


f2dcaf065ebf5f99dc390b013288fb98c10339c1_originaljpeg
I invite you to watch the YouTube videos of the American economist Milton Friedman on inflation. According to him, inflation is created or stopped by the government, which manipulates the economy as it pleases.

BGYKT0zCIAAtifsjpg
I'm sure a continued monthly accumulation of Bitcoin along with self-custody can be an effective deterrent to all of this. Bitcoin represents your financial freedom.

bitcoin-locked-defi-maker-dai-wbtc-gID_4jpg
In the last few weeks I have opened a free Telegram channel where we daily report the latest news regarding Bitcoin, cryptocurrencies and the economy. If you want to join, you are welcome. I hope this article helps you and can save many people from the evil deeds of governments.

Disclaimer: I am not aware of any third party rights on the images used. I undertake to cite the source if there are any and to adjust the position if requested.

Disclaimer: Trading cryptocurrencies carries a high level of risk and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives and your level of experience. Do Your Own Research. All opinions expressed here are owned by the respective writer and should never be considered as financial advice in any form.

ABOUT THE AUTHOR


CRYPTO_ALBERT   

EDITOR-IN-CHIEF AT NEW COIN POST. WE TALK ABOUT BITCOIN AND CRYPTO. JOIN OUR TELEGRAM CHANNEL TO BE UPDATED ON THE LATEST NEWS OF OUR INDUSTRY.