Why I Believe in BITCOIN: A Journey Through Money

Let’s kick things off by discussing money itself before jumping into Bitcoin. So, what actually is money? The most straightforward way to define it is: "Money is anything that people are willing to accept as payment since they know others will accept it too." Money has gone through various transformations over time: - Barter System - Precious Metals (like Gold and Silver) - Government-Backed Notes and Fiat Currency - Digital Currencies Looking at how money has evolved, it's pretty clear that every significant shift was met with skepticism at first. People tend to stick with what they already know. But eventually, new forms of money get accepted. Typically, the journey looks like this: Personal Acceptance → Institutional and Government Acceptance Once a type of money starts moving through these phases, it becomes tough to overlook. Bitcoin has already gone through these acceptance stages, which is a pretty strong indicator if we pay attention. Here’s another point to consider: every new type of money emerged because the previous one had issues or limitations. For example: A. Barter System: The original method of exchanging goods, but it came with some serious drawbacks: 1. Double Coincidence of Wants: If I had fish and wanted a goat, I needed to find someone who had a goat and also wanted fish. That wasn’t always an easy task. 2. Measuring Value was Tough: How many fish equate to one goat? How many baskets of yam are worth one cow? There was no universal standard for measuring value. So due to these challenges...

Why I believe in BTC, simply because it is verifiable, apart from decentralization & security. In the past, money was still clearly pegged to the gold reserves held by the issuer, until the 'Nixon Shock' occurred, America needed a lot of money to fund the war, the dollar's growth rate was faster than the gold reserves held by the issuer. This creates a real imbalance & is no longer fair. This is where BTC advantage lies, will always have 21,000,000 maximum in supply & it's verifiable.

​It's certain that money has gradually evolved as well as other mediums of exchange like barter trade / goods for goods. That said Bitcoin being a revolutionary technology which is only limited to a 21 million coins cap ,no company and no third party involved it's easy to say when you look back at the history of Bitcoin, I believe the most logical explanation to Bitcoin's value lies within the users so as the value of money. Well I often wonder how would the world be if money never existed I guess we would have still been commencing on barter trades, which would definitely not be able to measure the value of commodities or even an assets like gold or land. So yh that's all.....

My 2 "coins": BTC (or it's forks) should be split into 2 parts: 1. CE (Community editions - mining only on the PC / money for the people): 2. RHME (rental hashrate market editions / money for the whales & corpos): Why this ? It is simple: CE for pure (or poor) people (~95-99% users) & RHME for whales & corpos (~1-5% of users). This is how I see it. Edit: I thnk it is good time for a new "revolution". Why ? BTC is no longer for every day use coin - especially in long term. It's like using Windows all the time (this is stupid). Trends are changing along with time.

I'll summarize why people increasingly believe in bitcoin. 1. Secure 2. Decentralized 3. No third party 4. Limited supply 5. The price gradually increases every cycle and this is the main point of all the other advantages. Regarding the fiat system, the average person already understands, and why I personally also believe in itcoin, yes, no less than that, I value bitcoin to be an asset in the allocation of my investment portfolio.

Satoshi Nakamoto created Bitcoin and made a revolution in Accounting, not only about money. Bitcoin is an accounting revolution. Bitcoin and the accounting revolution that shook the world. Bitcoin and the bullish case. I feel your post is likely AI created? Did you use AI for creating this topic @OP?

I believe in Bitcoin and I also believe in money. For me it is quite realistic especially since bitcoin has a value over the years. Without the benefits and value of bitcoin's uniqueness, I don't think it would be this massive. Bitcoin exists because its existence coincided with the economic uncertainty at the time and people were looking for an alternative to fiat saturation. The complete control that bitcoin offers suits people's goals.

Hmm, Accounting? 🤔 Was Satoshi and Accountant ? Pls throw more light. I’ll check the links out. No, it wasn’t Ai generated.. I’ve been reading several articles and watching video about the evolution of money and Bitcion for a while, that was what prompted the creation of this topic. Here is one Video thats explains this: https://youtu.be/ek_RodYzUCI?si=71QA7IfPb5TZvoIu. There’re many more out there.

The shift in mechanism certainly has advantages that make previous means of exchange no longer relevant, in a complex way BTC has everything that people need. Store of value, verifiable, no central control & better security than traditional technologies. It's still early days, I'm sure BTC will grow even better.

That's why it is important that people actually learn Bitcoin properly before they start to use them because we have 1. Secure -- people are very careless with their private seed, or greed enough to fall for scams, Ponzi and many other things that can make them not secure and very vulnerable. 2. Decentralised: people with low knowledge aren't caring much about this like they should, more people now are using centralised exchanges to buy Bitcoin. 3. No third party: I see people wanting Bitcoin to be integrated into the traditional banking systems, some even want the banks to handle the storage and movement of their Bitcoin just like an exchange.

The easy access to the investment is personal interest, stability in the BTC, unlike the fiat today that you are restricted to freely  access your money, and to certain amount you can get at a time, not just that alone the stress of getting the money out. The assurance of security available to its customer is another area why I can't stop advocating for people to involve in investing in Bitcoin.

I personally trust Bitcoin because of the financial freedom it offers through its decentralization, where it means there is no central authority that can interfere. And I trust the potential for profit that Bitcoin offers through its halving cycle which makes its supply increasingly scarce. There’s no need to overcomplicate things. Money or even currency should be able to maintain its value over the long term. And I believe that Bitcoin is the only one that deserves to be considered as money given that it is becoming increasingly scarce. Bitcoin is also extremely secure its security system has never been hacked. And that is why I have such strong trust in Bitcoin. I’m not sure there’s any other currency worthy of being called money besides Bitcoin.

As for me, Bitcoin is a system that's more advanced than it's predecessors. I've said this before now, Bitcoin has come to offer us those features where the previous monetary systems did not meet up.if we ask different investors today why they trust Bitcoin, they would have variety of reasons. But the most important is the freedom Bitcoin offers. Even in the early days where only a few people used and trusted Bitcoin they knew what Bitcoin was. Now it's seems even the government are now having same view as them thus the need for their involvement.

You have just mentioned the qualities of bitcoin, and the reasons why investors so much trusted in owning bitcoin. Bitcoin decentralization has made every investor to be in total control of their investment, and not being influenced by the policies of government that is being applied to fiat currency. Like the centralized system, the government decides how you should use your money, and controls it, and that is the more reason why fiat currency is succeptible to inflation and value depreciation. Bitcoin being a store of value is another thing that interests investors so much, because their is always time when the price of bitcoin or value rises, and never go back to it's previous price, and this is common during the bull cycle, so when you invest in bitcoin, as the asset increases, so the value of your money increase which makes bitcoin far better than keeping your money in fiat currency.