In Ford and Nikola’s vision, the monetary standard was to be immune to control by any international banking group. His aspiration aligns with Bitcoin’s philosophy and finds support from today’s market players. As Kathy Wood once said, «Bitcoin is the insurance everyone will want at the end of the day.»
Bitcoin protects wealth from outright confiscation, inflation, and the risk of loss to third parties (counterparties) in storage or transfer. As cryptocurrencies are adopted and a regulatory framework emerges, interest in Bitcoin will grow arithmetically.
Against this background, I am not without annoyance to see how people react to various manipulative news and make decisions based on the opinions of authors who are unable to prove their competence.
My opinion on this matter is as follows: every article about bitcoin should start with the words «today the minimum international price of bitcoin value according to the graph is equal to…» and only then the text of the author’s material. If you do not see this in the article, the material should be ignored. It is written for hype, search engines, SEO promotion, discrediting Bitcoin, or anything else, but not for transferring information of a really expert level to the user.
The link where you can track the cost of bitcoin mining comfortably can simply follow the link. tradingview.com/chart/yNzt0Ymn
Recently, many significant stockholders and fund owners have been scared about the fall of Bitcoin, but I want to reassure you. They fear the moment when a considerable portion of people realize the value of Bitcoin and begin to exit the stocks of the companies and funds of which they are primary holders.
The stock market will collapse as finance transitions into better money, as will their corporations, and these people, as leaders of their fields, will take two hits at once — they will lose money and cease to be needed. You cannot capitalize on a company indefinitely and also profit from it. There always comes a time when the next «bubble» bursts and the ignoramuses pay the most for it because they lose the last thing, unlike the same corporate owners. They lose everything.
We are not so rich that we can afford to be ignorant. It costs us too much.
Ignorance is a lack of knowledge or low level of education in a specific area, a lack of the required information or understanding of a topic.
It is essential to note that ignorance is not a sign of low intelligence but merely indicates a lack of knowledge on a particular subject. Combating ignorance requires an openness to learning and a desire for self-improvement.
Ignorance has several negative consequences that can be detrimental to the individual and society as a whole. It also creates fertile ground for manipulation of you, your decisions, and, as a result, your money. Subsequently, your capital insures anyone but you.
Ignorance and unawareness also often cause stereotypes, prejudiced views, and new reasons for discrimination. Collective ignorance leads to the backwardness of society, slowing down its development and progress. It can also cause social problems such as unemployment, poverty, and crime. Some issues can go unaddressed for decades because of the failure of society to recognize the extent of their harmfulness, making it challenging to solve them.
This book will give honest and reasoned answers to all your questions about Bitcoin. It will save you from ignorance and protect your capital from manipulative information and actions of authorities, big investors, and funds. The best thing you can do for your future and your children’s well-being is to educate yourself to understand Bitcoin and apply it to better the world through this system.
The author is not paid for extra words. This publication attempts to inform the reader precisely on the stated topic. I have endeavored to maintain factual accuracy but make no guarantee thereof. This book is published for popular enlightenment and entertainment only. It should be clear to the purchaser that the publisher does not provide legal, accounting, financial, or other professional services. Please consult competent professionals if legal or other advice or other expert services are required. Cryptocurrencies and bitcoin are a complex and treacherous area. The author is neither a lawyer nor an expert in any field. The book contains no financial legal advice, including cryptocurrencies and bitcoin. The reader acts at his own discretion. Neither the author nor the publisher accepts any responsibility for any decisions or actions you take supposedly influenced by what you hear or read in this book, especially if you kill someone.
MEANINGS AND VALUES
«Bitcoin is fundamentally a mathematical concept, but its relationship to the physical world is very different from its relationship to the world of other mathematical concepts because most can be visualized, like Pythagoras’ theorem!
Fig.2 Pythagoras’ Theorem
It is enough to draw a square from each face of a triangle to understand it to see that the hypotenuse length square is equal to the sum of the catheter’s length squares (Fig.2). In turn, all the concepts embedded in Bitcoin can be represented quite easily in the form of graphs and sketches. I think you’ve seen them dozens of times. However, bitcoin has another layer that is much harder to realize — its connection to reality and value.
«Value» is a pretty odd concept because while it is actual, it is also completely subjective. For some collectors, a worn-out banknote will be extremely valuable, but at the same time, it is just a piece of paper, a relic of the past for an ordinary person. That is why there is no ruler or scale to measure value. Most sites trying to express the value of Bitcoin use the US dollar as the unit of value, and this is wrong. The US dollar is a poor tool for measuring value because no one knows how much there really is or how much there will be in the future, which is even more critical. Our current viral global crisis, with its 99.9 percent survival rate, has caused the world’s money printers to run at an unprecedented ratio, and the dollar’s value relative to commodities is slowly fading. So, what is a fair way to measure Bitcoin’s value?
Measuring value
Imagine two people stranded on a desert island. Let’s call them Robin and Tom. They have one Bitcoin each and no way to acquire more. In other words, these two bitcoins are metaphors for the entire economy. Tom and Robin know that only two coins are circulating on the island. Robin knows how to fish with his bare hands, and Tom knows how to chase and catch rabbits. They exchange fish and rabbits with each other, which are consumer goods.
Sometimes, they use their bitcoins as a medium of exchange if there is a shortage of fish or rabbits. One day, Robin crafted a net. He now catches many more fish per hour, giving him an advantage over Tom, who has to invent a spear to capture rabbits as efficiently as Robin catches fish.
The net and the spear are capital goods, and they benefit the island’s entire economy, as fish and rabbits are now cheaper to produce and buy. There are still only two bitcoins in the economy. While before the net and spear, these bitcoins could be used as a means of accumulation and exchange, now the value of the capital assets (the net and spear) are also part of the economy. In other words, one bitcoin can now buy many more fish or rabbits than before. To put it even more simply, every time Tom and Robin invent new ways of extracting sustenance, bitcoin increases in value, and that’s because bitcoin is finite, as there can’t be more than two coins on an island.
So far, people are doing just that. Volatility (price fluctuations) is proof of that. In the future, there will come a point when no one will sell bitcoins at a loss because everyone will realize that it is pointless to do so. That’s when things will change dramatically.
In reality, there are only 21 million coins, and imagine how small