What is Bitcoin and why do I think it's important for you to understand?
Introduction
Have you ever noticed how money seems to be at the root of so many problems in our world? Rising prices making it harder to afford groceries... banks charging fees for everything... people in some countries not even being allowed to use their own money... government spending spiraling out of control. Well, there's this thing called Bitcoin, and whenever these kinds of problems come up, Bitcoin enthusiasts have a simple response: "Bitcoin fixes this." At first, it sounds too good to be true – how could one thing address so many different challenges? But that's exactly what makes Bitcoin so intriguing.
While Bitcoin isn't a magic solution for all of society's problems, I've come to understand something profound: money shapes nearly every aspect of our lives. It influences our daily decisions, our goals, how we value our time, and even how we build our communities. When this system breaks down – through inefficiencies, power inequalities, or corruption – it damages all of us. The problems aren't abstract; they impact my friends, family, and people worldwide, from eroding hard-earned savings to limiting economic opportunities.
That's what motivates me to talk about Bitcoin. I am investing my time and energy not just in learning about Bitcoin, but in sharing what I've learned with others. I believe Bitcoin offers a better path forward – for individuals, communities, and the world.
I want you to learn about and adopt Bitcoin for these reasons:
- Defend Against Inflation - US debt hits $34T+ while they print money endlessly, destroying your savings. Protect your family's wealth from government debasement.
- Own Your Money - No banks, no government, no middlemen controlling your wealth. Self Sovereignty. "Your keys, your coins" - true ownership in the digital age.
- Survive System Collapse - Hedge against the inevitable failure of debt-based fiat currencies. Be prepared when the house of cards falls.
- Economic Justice — the current system has structural elements that favor the rich getting richer
- Fight Oppression - Dictators can't freeze, seize, or stop Bitcoin transactions. Give power to dissidents, refugees, and the financially oppressed worldwide.
- Seperate Money from State — Just like seperating Church from State, money does not have to be controled by 1 or a few countries
- Protect Your Privacy - Stop banks and governments from tracking every purchase you make. Financial privacy is human dignity, not criminal behavior.
- Long-Term Motivation - Bitcoin rewards savers, not debtors and spenders. Promotes savings over debt, encourages valuing the future over instant gratification. Build generational wealth instead of living paycheck to paycheck.
- No Gatekeepers - No credit checks, no bank approvals, no discrimination. Anyone with internet can access global finance.
- Bank the Unbanked - 2 billion people get financial services without permission. True economic justice for the world's poor.
- Choose Better Money - Fixed supply beats infinite printing every time. Scarcity creates value, abundance creates poverty.
- Speed & Cost - Send $1M globally in 10 minutes for $3 vs banks taking days and charging hundreds. Cut out the middlemen bleeding you dry.
- Always Open - No bank holidays, weekends, or "system maintenance" blocking your money. Your money works when you need it, not when banks allow it.
- Fix Remittances - $700B market getting crushed by Western Union's 10%+ fees. Migrant workers keep their money instead of feeding parasitic transfer companies.
- Synergy with Clean Energy - Bitcoin mining accelerates renewable energy development and grid stability. Profit motive meets environmental progress.
- Programmable Money - Smart contracts, automated payments, and financial innovation beyond simple storage. Money that thinks and acts according to your rules.
- Total Transparency - Every transaction is auditable vs. fractional reserve banking's black boxes. See exactly where money goes instead of trusting banker promises.
This article explores why Bitcoin matters and how it could reshape our relationship with money for the better.
A short primer on “What is Money?”
Bitcoin is one thing, but it’s also many things
. That is because Money, like the US Dollar, is many things. First, it is a way to save your earned value for the future. Think if you were paid in beef and corn, that would be hard to save for a rainy day. Second, by being on one side of every transaction (since we don’t typically barter anymore), money is the lubrication that lets exhanges happen, everything from small transactions like buying a hot dog at a baseball game to huge transactions like building a skyscraper in New York City, or international trade of oil or wheat. Finally, money is a language among people to say what things are worth to them. That pizza is worth $12.50 — we are stating value by how much we individually, and as a market, will pay for some good or service over time.
These three functions of money are called Store of Value (SoV), Medium of Exchange (MoE), and Unit of Account (UoA).
Bitcoin is online money that works differently from traditional payment systems like credit cards or bank transfers. With Bitcoin, you can pay someone directly without banks or companies in the middle watching, blocking, or taking fees. It's designed to hold value over time, like gold once did, because there's a permanently limited supply. This makes it potentially powerful for long-term savings in our increasingly digital world.
Our Money System is Not What it Once Was
Most people think our current money system has been around forever. It hasn't.
Before 1971, dollars were backed by gold. Before 1913, we didn't have a Federal Reserve. The system keeps changing, and not for the better.
Today, the Fed prints trillions while your savings shrink. Big banks get bailouts while you get inflation. Your grandparents' recipe for building wealth – save money, buy a house, invest steadily – doesn't work like it used to.
This isn't capitalism. It's a rigged game where insiders win and everyone else pays the price.
Privacy - Your Money, Their Eyes
Remember cash? You could buy something without the whole world knowing. That was normal. That was privacy.
Now? Every coffee you buy, every bill you pay, every donation you make – it's all tracked. Banks know more about your spending than your spouse does. They analyze it, sell it, share it with advertisers, even government agencies.
This isn't about hiding anything. It's about basic human dignity in an age where everything is surveilled and monetized.
Bitcoin: The Return to Hard Money
Hard money is money that has one key feature: it's difficult to create more of it. Think of it like this: if you could easily make more money whenever you wanted, that money would quickly become worthless. That's why throughout history, societies chose things that were naturally scarce as their money.
Gold became the ultimate "hard money" because you had to work incredibly hard to mine it, and there's only so much of it in the Earth. You couldn't just create more gold in your backyard. Ancient civilizations used things like rare seashells or massive stones because they were also difficult to find or move – you couldn't just make more on demand.
This "hardness" protected the value of people's savings because no one could suddenly flood the market with more of it. For example, when European colonists began mass-producing "wampum" beads in the 1600s, it devalued what had been a ceremonial and diplomatic item for Native American tribes, destroying their traditional exchange system and way of life. The island of Manhattan was sold for what was then worth $24 worth of beads (roughly worth a few head of cattle).
Now, for the first time in human history, we have digital hard money. A fixed supply of money that can be transmitted and exchanged…. Online! Only 21 million Bitcoin will ever exist. Period. No central bank can print more. No government can make more. No corporation can inflate it away.
Gold worked as hard money until governments locked it up and forced us to use paper instead. But Bitcoin is different – it's the first money that's both digital and impossible to control.
What About the Energy Concerns?
Critics say Bitcoin uses too much energy. But that energy protects the first truly independent financial network in history. Every kilowatt spent mining makes your financial freedom more secure.
And here's what they miss: Bitcoin miners seek out the cheapest energy. Increasingly, that's renewable energy. Bitcoin is literally driving green energy innovation.
That could be a whole other article, so I’ll leave it there for now.
The US Dollar will be around for a long time
Despite all the problems with the US Dollar and the traditional financial system, this is one strong incumbent! There are many powerful people and institutions that want to keep this going for a long time. They benefit from it, hell, I benefit from it. But at what cost?
You Don’t Have To Choose
Start small. Learn more. Exchange a little of your US dollars for a harder currency, Bitcoin. One that is not inflating away every day. But don’t wait too long to learn more, it takes time.
Bitcoin isn't just another investment. It's a declaration of financial independence.