When I started buying Bitcoin, I was skeptical of its potential. It was this skepticism that actually helped me avoid the pain that many speculators felt during the 2018 dump. Though I probably have a Bitcoin or two lost in the Ether on some old laptop, I didn't buy my first Bitcoin, or more accurately my first portion of Bitcoin until it was around $2,000 dollars somewhere in the middle of 2018. The skepticism of which I spoke earlier caused my to start selling my Satoshis at around $11,000 dollars and to finish selling somewhere in the $15,000 dollar range. Watching the price move up to $20,000 wrecked my nerves, but the profit I incurred bouyed my spirit and the downturn at Bitcoin's peak reassured me of its volatility. This did not deter me from investing in Bitcoin however. It, instead, inspired me to actually "Do my own research". Bitcoin's potential as well as how falsely the arguments of naysayer's rang, encouraged me to delve into cryptocurrencies and the Blockchain.
The first argument I recall hearing against Bitcoin was how prevalent its use amongst con artists, drug dealers and terrorists. Looking at the world in which the United States has become the biggest terrorist by bombing people from countries who have never attacked nor set foot on American soil seemed questionable since Bitcoin was mostly rejected by the American empire. Put another way, it seemed illogical to blame Bitcoin for acts of terror while living in a country that dropped so many cluster bombs in 2016 (26,171 dropped during the Nobel peace prize recipient president Obama's administration) that America ran out of bombs! To learn more about America's bomb shortage, check out this article by the Guardian:
https://www.theguardian.com/commentisfree/2017/jan/09/america-dropped-26171-bombs-2016-obama-legacy
As for Bitcoin's impact on drugs, it arguably couldn't come close to the immorality of the prescribed drugs peddled by members of the Sackler family. This is made evermore apparent when, in a single year, legally prescribed drugs have killed and continue to kill as many people as those who died during the ten years of the Viet Nam war. In light of such statistics, one must certainly question the morality of companies like Purdue Pharma if not the legality of prescription drugs that have led to the drug addiction epidemic that so many Americans face. The juxtaposition of drugs meant to ease suffering and the suffering that said drugs cause warrant the creation of new terms like "Immoral Legality" as defined in the RAD Dictionary:
Immoral Legality noun
1. A system of regulation that causes harm to the majority through the implementation of immoral laws which only serve to benefit a minority.
Regaining American Democracy Dictionary
Then there was the argument of intrinsic value or the lack thereof in Bitcoin. Some of America's most highly regarded economic leaders actually laid out the argument that Bitcoin had absolutely no intrinsic value, all while ignoring the fact that the only intrinsic value held by the U.S. dollar was only due to the threat of violence. When Nixon took the U.S. Dollar off of the international Gold standard, all inherent value was lost and America was forced to force it currency upon the rest of the Globe. The Petro-Dollar, a means with which all major countries have been required to exchange oil further entrenched the U.S. Dollar as the World's reserve currency. Stepping out from underneath the U.S. Dollar was a death sentence in the past, but as America's Central Bank (the Federal Reserve) printed trillions of Dollars without true justification, integrity or thoughtful consideration, other nations have found it necessary to move out of its shadow. If you can print as much money as you want, it becomes worthless to those who have so little of it. Imagine the abstraction that a billion dollars represents to all of the homeless, poor, middle-class and even upper-middle-class people. Now, imagine how abstract a trillion dollars must feel to those same people and even some of those in the one percent. America's current debt is over 27 trillion (The 23 trillion depicted below is from the beginning of 2020. We are 4 trillion past this number as indicated by the live clock! Click on the following link.
US Debt Clock
dollars and the World's debt is over 79 trillion:
World Debt and growing
So, upon closer inspection and reflection, these and the other inane arguments used to disparage Bitcoin prove to be as false as the dollars value.
Thankfully, I looked into each and every argument against Bitcoin, because my research allowed me to make informed decisions about this and other cryptocurrencies. It allowed me to buy back into Bitcoin between $3,500 to $4,000 with confidence and to HODL even when waking up in the middle of the night to find that Bitcoin's price had dropped by hundreds (if not more) of dollars. Refutation of the "Rubber/Glue" claims on main stream media news and financial cable stations has given me the courage to recommend Bitcoin to family and friends. And finally, the ease with which so many cryptocurrency projects have made access to the future of money has simplified the ways in which I can help those I care about get off zero.
The main goal of this blog will be to help others find out how to invest in cryptocurrencies, including those ways in which one can earn free Bitcoin or other cryptocurrencies. I will cover incentive programs like those offered on sites such as CRYPTO.COM (free Bitcoin sign up bonuses) or the FOLD app (which offers daily free spins to win free Satoshis or bonus Satoshis-back (like cash back, but better because Satoshis appreciate in value) when purchasing gift cards from retailers as diverse as (Amazon, Taco Bell, Burger King, Olive Garden, etc). I wlll, not only discuss cryptocurrencies here, but also the issues Humanity faces as well as the actions taken by the World's leaders that are and will drive more of Humanity towards the adoption of Bitcoin and other cryptocurrencies.
Check in every Friday for another article about the benefits, uses and access to Bitcoin and cryptocurrencies.
Chris Ossman
