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  • Why my sons (7 & 10) are buying the #BTC Dip.

    Tim Parsa
    2 replies
    Towards the beginning of the pandemic, my sons agreed to convert their dollar profits from a garden tech startup we've been building (www.vival.us) to #bitcoin. Their entry price was $13,000 per BTC. As #BTC continues its decline from its stimmie-juiced all-time high of $69,000, we huddled yesterday to review the fundamentals and purchase more bitcoin with our accumulated profits so far from 2022. 1. Bitcoin is the only reliably scarce digital asset, its supply capped by the protocol's code, a fundamental core value of the system that is zealously guarded by millions of hodlers who see bitcoin's 21MM hard cap as our species' best chance to break free from the wealth-destroying abuses of central bank issued money, i.e. fiat. 2. Bitcoin is the only censorship-resistant money thanks to its decentralization, headlessness, and its protocol-protected ease of running a full-node in bitcoin's network, thereby enabling bitcoin's users to verify, rather than trust. In 2010, bitcoin's pseudonymous creator Satoshi Nakamoto disappeared from the online forums and chats where Bitcoin was launched. There is no throat to choke or chief or foundation board to coerce, as there are for every other public blockchain project, some of which are interesting and well-considered projects, most of which are scams. 3. Because of the previous two points, you can use bitcoin as money to purchase other assets or convert it into local money anywhere in the world. My sons can travel anywhere in the world and survive on their bitcoin stash, and they can hold, move, trade, pay, and gift bitcoin to anyone, at anytime, anywhere without asking permission or approval of anyone. I don't believe that even the most diehard "hodler" understands this point, but it's something I've lived building Uphold, Airtm, Slyk, and supporting and investing in bitcoin-powered fintech startups such as Wayfex, QvaPay, BitRemesas, Freemance, XFX, as well as P2P protocols, i.e. the Air Protocol. Bitcoin's unique qualities make it uniquely reliable and useful as a bridge in and out of harsh currency regimes and other similar use-cases where local money and financial services are broken, limited, or used as a tool of coercion and punishment without due process by authoritarian regimes. 4. Demand for bitcoin increases as fragile and corrupt top-down systems, such as central banks and bloated government bureaucracies fail and are revealed as corrupt and incompetent. As they resort to force and limitations on free speech to cling to power, more and more people will use Bitcoin to store wealth and move it across borders to more tolerant and better managed jurisdictions. Bitcoin's volatility is best seen as tracking the struggle between centralized and decentralized systems, between sheeple who do what they are told, no matter how nonsensical and freedom-loving sovereign individuals who refuse to waste their precious time, labor, life, and wealth propping up the corrupt, incompetent, and megalomaniacal. Who else is buying the dip and share in the comments why.

    Replies

    Zack Bruce
    I wrote a whole response about security, banking monopolies etc. Then reading back to what I wrote felt like bringing sand to the beach. The bottom line is that it’s hard to see how any other crypto dethrones BTC in the foreseeable future. I don’t see a future in which cryptocurrency as a concept loses the public interest. If anything it’s gaining the right kind of momentum that propels it to more and more meaningful use cases. For those reasons I’m buying the dip.
    Jorge Falcon
    It's simple. In 2021 there were approx. 62 millionaires around the world. What would happen if suddenly they wanted to own just one BTC each? Being always bullish is being in advantage from the rest of the world. I #BuyTheDip because BTC, is the future, and the future it's here.