Friday saw the SEC chairman, Gary Gensler declare only Bitcoin, is not a security, and all other crypto currencies are:
The creation of Bitcoin is unique. That is what we will focus on today. Bitcoin’s creation. Mathematical scarcity is the destination of that creation. Why was mathematical scarcity an important destination? Due to the fact that 21 million Bitcoin is all that will ever be created, via mining. Bitcoin has a cap or limit on it’s production. Time has no limit, it just keeps going on. Fiat currency has no limit, every government invents ways and reasons to print more. Which debases said currency. However, Bitcoin has a limit.
Now, consider this slide below. Private Central Bank families on top of the pyramid. They control the central banks. Remember Augustin Carstens, the big guy who is president of the BIS, bank of international settlements. That is the layer below on this pyramid. Then you have the IMF, and World Bank below that. Below that are governments, then commercial banks, then major corporations. That is six layors of control. The bottom of the pyramid is the remaining world population. Five of the six layers of control are under the 10 to 12 Private Central Bank families that control all economies of the world, not to mention all governments and corporations. Is that fair? Is that just? If you have questions, simply look at the coordinated efforts globally in all of these areas. Especially around the ESG movement. Here is the slide below:
This demonstrates a coordinated effort to control the population through coercion. It happens at the monetary system level, government level, corporate level. Now see CBDC’s which many of our blogs discuss. Are CBDC’s about control? Yes we certainly think so. So opting out of this gives you the individual control. Correct? Then how do we opt out of said control. Will mathematical scarcity at the protocol level help us to do this? Here is an exerpt from last week’s blog:
Censorship resistant digital currency, that is stateless at the protocol level, is precisely what makes Bitcoin different than every altcoin, every fiat currency, and every tangible asset!
Bitcoin has absolute mathematical scarcity because the protocol caps mining, at 21 million coins. Difficulty adjustments every 2,016 blocks mined keeps the blocks mining in about 10 minutes. Miner rewards being cut in half every 210,000 blocks keeps ratcheting down the scarcity, until the year 2140 when no more Bitcoin will be mined:
Bitcoin cannot be replicated because the protocol ensures no other coin or asset can create the protocol Bitcoin has. It is made of math.
Congo is a great example of this. Below is a video showing Congolese Villagers digging, after discovering a whole mountain full of Gold!, click here to view on twitter.
Gold is the 5,000 year old inflation hedge, but here are Congolese villagers digging frantically as they have found a mountain full of it. Is that really scarce?
Keep in mind, Africa leads the world in Bitcoin adoption. Specifically, Nigeria, Africa. So in Africa they know scarcity has value and they seek it out, as all of the currencies of Africa have hyperinflated and are worthless.
This graph below of the US national debt gives a look at what hyperinflation starts out looking like:
The history of money suggests that rising US interest rates, cost of debt service being more expensive than the US defense budget, and a -$30 billion monthly deficit which the US Fed owes to the Treasury. These are all reasons to be concerned that the sovereign debt bubble will burst this year, or next. Not to mention the US monetary system. Bottom line is, this does’nt end well. So opt out. Bitcoin is a mathematical protocol. It is made up of numbers. The protocol cannot be changed, it has absolute scarcity built into it. As the monthly deficit from the Fed to the Treasury grows will they print the money to cover it? Yes, eventually. There will have to be a reckoning, and that is coming, and fast!
Own Bitcoin so the blood doesn’t splatter on you! We are not financial advisors and this is not financial advise. Get out of the fiat monetary system, if your trapped in it, when the house of cards comes down, you will be financially ruined by all of that. Bitcoin is the life boat.
Give Neutral ATM a try. We have low rates, convenient locations and we are expanding. Contact Neutral ATM, we will answer all your questions about Bitcoin and using our ATM machines. Find a Neutral ATM Bitcoin machine location near you.