Bitcoin was created in response to the 2008 financial crisis as a way to opt out of a failing banking and fiat system, but people seem to forget about this fact all too easily.
Everywhere on social media all I see is people talking about when to buy and when to sell in order to make more fiat. The true bitcoin OGs out there never thought this way, they wanted bitcoin as a way to protect their wealth from a failing financial system.
In 2008 the thing that caused the financial crisis was interest rates being raised from 1% to 5%. It is the raising of interest rates that always causes something to break and this time around we have raised rates from 0% to 5.5%.
Something is going to break because of this, it is an inevitability. There will be a black swan financial event that will sweep around the world, we just dont know what the trigger will be or when it will start.
When this happens banks around the world will fail, bail-ins will begin where a percentage of your bank account balance will be taken from you in order to try and save your failing bank, and central banks will flood more money into the system than ever before causing inflation to skyrocket. The only asset that will protect you from inflation, protect you from bail-ins, and allow you to transact outside of a failing banking system is bitcoin.
The entire world is going to run to bitcoin at the same time when this happens including governments who will confiscate any and all bitcoin held with a custodian as part of a bail-in policy to "protect" the fiat system and the banks.
Interest rates have been raised, the fiat system is cracking at the seams, its just a matter of time before a black swan event causes a financial crisis worse than 2008 to sweep around the world, and the one safe place everyone on earth will run to will be bitcoin.
This is why bitcoin exists.
Edit: After seeing how many people are commenting about this view not making sense I now understand theres less people that get it than I previously thought.. Theres so many people that dont understand whats coming. submitted by /u/slvbtc
[link] [comments]
http://dlvr.it/T4Pny6
Everywhere on social media all I see is people talking about when to buy and when to sell in order to make more fiat. The true bitcoin OGs out there never thought this way, they wanted bitcoin as a way to protect their wealth from a failing financial system.
In 2008 the thing that caused the financial crisis was interest rates being raised from 1% to 5%. It is the raising of interest rates that always causes something to break and this time around we have raised rates from 0% to 5.5%.
Something is going to break because of this, it is an inevitability. There will be a black swan financial event that will sweep around the world, we just dont know what the trigger will be or when it will start.
When this happens banks around the world will fail, bail-ins will begin where a percentage of your bank account balance will be taken from you in order to try and save your failing bank, and central banks will flood more money into the system than ever before causing inflation to skyrocket. The only asset that will protect you from inflation, protect you from bail-ins, and allow you to transact outside of a failing banking system is bitcoin.
The entire world is going to run to bitcoin at the same time when this happens including governments who will confiscate any and all bitcoin held with a custodian as part of a bail-in policy to "protect" the fiat system and the banks.
Interest rates have been raised, the fiat system is cracking at the seams, its just a matter of time before a black swan event causes a financial crisis worse than 2008 to sweep around the world, and the one safe place everyone on earth will run to will be bitcoin.
This is why bitcoin exists.
Edit: After seeing how many people are commenting about this view not making sense I now understand theres less people that get it than I previously thought.. Theres so many people that dont understand whats coming. submitted by /u/slvbtc
[link] [comments]
http://dlvr.it/T4Pny6
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