In the Bitcoin world, the term NgU technology comes up frequently. You may have already read that Bitcoin is a NgU technology. The acronym NgU stands for Numbers Go Up.
When you see the evolution of the Bitcoin price since 2010, it is easy to understand why Bitcoin is qualified as a NgU technology.
You put your money earned with hard work into the Bitcoin network, you're patient, and when you come back a decade later, your purchasing power jumps dramatically. If you tried the same experiment with the US dollar in a traditional savings account, you would have lost 22% of your purchasing power between 2010 and 2021:
So you don't have the freedom to save in the current monetary and financial system. This is confirmed by the figures.
Bitcoin's NgU functionality is a necessity to attract new users
Bitcoin is confirming block after block that it is the best savings technology in the world. Better still, it is accessible to the greatest number of people with a simple smartphone with an Internet connection.
With no leader and no marketing team to promote it, Bitcoin has grown over the years thanks to this NgU functionality. This is at the heart of the Bitcoin value proposition. It is what clearly keeps Bitcoin users around the network.
Without the NgU feature, Bitcoin could not have grown in the way it has in just 12 years of existence to reach 125 million users by September 2021.
The increase in the price of Bitcoin is essential because it increases liquidity in the market. This liquidity is essential for monetary goods. More liquidity in the Bitcoin market means more and more users for the network, which has gained just over 25 million users since September 2020.
The NgU functionality is, therefore, a necessity because without it it would be hard to interest new users to come and discover Bitcoin. The fact that the price of Bitcoin is still rising is causing more and more people to ask about the Bitcoin revolution.
Initially attracted by the lure of money, these new users come to buy Bitcoin and tell their friends who may do the same. Thus, Bitcoin continues to increase in liquidity, and ultimately in utility.
The volatility of the Bitcoin price is the perfect complement to the NgU technology side
In addition to this, the volatility of the Bitcoin price is a feature in its own right. This is because Bitcoin is a free market that allows its users to permanently set the equilibrium price. Exchanges can take place 24 hours a day, 365 days a year. There are no circuit-breakers to come and manipulate the market as there are in the stock market.
This volatility increases the attention on Bitcoin, which puts it in a virtuous circle:
This is what I personally call the Bitcoin Positive Feedback Loop. This had allowed the Bitcoin price to enter an incredible Bull Market at the end of 2021.
It will also be implemented in the coming months.
Come to profit from Bitcoin as a NgU technology, Stay for the freedom that Bitcoin gives you
While the NgU feature is at the heart of Bitcoin's value proposition, you should of course not stop there. Once you have discovered Bitcoin through the incredible returns it offers to its investors, you should fully understand its why.
You will then open your eyes to the ugly truth about the current monetary and financial system. You will happily discover that Bitcoin addresses the flaws of the current system and offers you a way to take power over your money. By actually taking control of the fruits of your labor, you will then be able to live your life on your own terms.
This is the other great value proposition of Bitcoin that unfortunately many people elude at the moment. Nevertheless, without the NgU functionality, the number of people discovering the importance of the concept of self-sovereignty would be even smaller.
The NgU functionality is, therefore, a necessity and a virtuous thing for Bitcoin.
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