Bitcoin, the Rat Poison
It's funny that I am still regularly asked questions like "Why are people buying bitcoin? What makes bitcoin so valuable?" My response is simply "Look around". Observe and tell me what you're witnessing with your own eyes.
It has been calculated that 22% of all us money in circulation was done so in 2020! Your cash that YOU have in the banking system has a slow leak of the worst kind and that leak ironically goes by the name "inflation". Why anyone would work a job, get paid and then hold that money in cash with a known leak is beyond me. Bitcoin is inevitable because it eats inflation and resolves the leak. It has proven over the course of its existence that it effectively stores value. I know there is much excitement and hype surrounding the price in the bull cycles but I am more drawn to the astonishing fact that even its low price is consistently rising year after year.
Bitcoin proves that it is economically sound and we haven't even ventured into other advances in fintech it has brought to the table. It has solved the double spend problem without the need of extra resources, such as banks and payment providers. I am afraid that by time the average person picks up on this, they will have lost so much money, after already being taxed by the visible tax and Bitcoin will be priced so high, they will enter this next system behind the eight ball.
I will close by echoing Bill Miller's retort to Warren Buffet's claim that Bitcoin is rat poison. Yes, it is and the rat is cash!
Well said. I hope people will began take heed to this information.