It's all about Bitcoin, baby! Ep 133 / Janine Grainger

Resources:

Where to buy Bitcoin?

 I recommend Easy Crypto for any  Crypto buyer. If you're ready to get into Bitcoin, make a start here by setting up an account with Easy Crypto.

Notes:

There’s a lot of definitions of what Bitcoin is for the everyday person – I like this simple definition though– it’s digital money for the digital world.

What is money?  Well one of the definitions of money is that it’s a store of value. You can go to work all week, and your income is the distillate of your own human effort. That substance, or value, can be traded with others to obtain goods and services you need. If you’re not ready to make those purchases however, or if you’re saving longer term for other things, like say retirement, you need to have confidence that the store of value you use will be durable. One of the things we need to do to ensure our value is not eroded over time, is we need to invest. 

Diversification is an important tool when investing, but most simply diversify within the financial world. Bitcoin gives us a tool to diversify from it. 

So the problem, that Bitcoin aims to solve, is that the current financial system may be dying. In my view, and bear with me here, a consistently falling interest rate over time testifies to this death. The solution may be to provide a new monetary reference point, that can ultimately rebuild a new type of system that’s built on scarcity, rather than debt and unlimited money creation by a central bank and government. Our current money we use works, because we trust that it will work – however, the titanic of the current financial system that we voyaging in, has just hit an iceberg. Are we simply going to listen to the band and carry on, or make a rush for the limited supply of lifeboats that others are already gathering around? 

Some say Bitcoin doesn’t have any intrinsic value – this is a great example of a view akin to old wine in new wine bottles. The underlying assumption here is that our current dollars will denominate and dominate our investments in the future. What if that changes though due to loss of trust? I’d suggest that Bitcoin does very much have intrinsic value – trust.

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