[Editor’s Note: The following article is an op-ed.]
This article is for general consumption, but I’m primarily intending this for all of the Bitcoin haters out there. The trolls of Bitcoin. The people who run around the Internet, mistakenly calling Bitcoin a “scam.’’ a “pyramid scheme,“ or a “Ponzi scheme.” The ones who have successfully ignored all that Bitcoin has accomplished over the last eight years, and are ignorant enough to actually think Bitcoin is dying, or is a huge failure in some strange way you cannot really justify. Let’s assume you are right.
Let’s say somebody promised you that Bitcoin was going to become twenty different nation’s national currency or remove the U.S. Dollar as the global reserve currency, and Bitcoin did not meet that imaginary standard you made up for it. Let’s imagine that Andreas Antonopoulos, Gavin Andresen, and Mike Hearn promised you all sorts of global monetary changes due solely to the invention of Bitcoin.
This means you have ignored all the major corporations, internet brands, Fortune 500 banks, and national governments adopting Bitcoin’s blockchain technology because it far exceeds anything they have to offer. You also dismissed all the major brands associating themselves directly with Bitcoin’s digital currency, like Microsoft, Wikipedia, Fiverr, and Dell. You have ignored or failed to comprehend all the abilities Bitcoin has that make it inherently valuable, from instantaneous online payments to its encrypted security features. You have decided that Bitcoin is a con game, that’s your story, and you’re sticking to it.
Let’s say you are right, somehow. Well, guess what? Bitcoin is still “going to the moon” as far as market value over the next decade, and that is being very conservative. Why? Simple. This has nothing to do with some “pump-and-dump” inside of the Bitcoin community. Bitcoin’s value will rise for years to come because of things well beyond the Bitcoin community’s control. The source of Bitcoin’s future value comes from a trillion-dollar economy, the world’s largest economy that is crashing and burning, as we speak.
The E.U., the European Union, or what has been exposed as the failed globalist government initiative, at scale. The E.U. is in a death spiral, and this will force the European world to slowly but surely befriend the modest but capable Bitcoin digital currency in the years to come, at least to some greater extent than it does currently.
Warning Signs Aplenty
Europe has already done a very good job of making friends with Bitcoin, from London becoming a global fintech hub, to all of the Bitcoin nodes residing there, and the French businesses that do payroll to pay employees in Bitcoin. However, just look at the last three-plus years.
Cyprus: In April 2013, they suffered their economic meltdown, with an introduction to the banking “bail-in” concept. This flaw in the legacy banking system, and the way they handled it created a mainstream entrance for Bitcoin. This is how I discovered Bitcoin myself when it established itself as an economic “safe haven” during this economic crisis. Bitcoin values over this period soared from about $20 USD in value to several times that, a value it would keep, and even build upon later in the year. This was not a bubble. This was pure value Bitcoin provided during an economic crisis.
Two years later, in Greece, we have the Grexit, and history repeats itself. Bitcoin value doesn’t increase several-fold, but enough to provide safety, security, and value to Bitcoin holders, old and new. And quietly, the veneer of strength the E.U. seeks to portray starts to fray. The colors on the E.U. flag start to fade just a little bit.
Then this year you have Brexit, the vote heard round the world. Now, Brussels, we have a problem. The British Pound also has a problem, and this moves more value and demand into the Bitcoin market. Many started a run on Bitcoin leading up to the referendum vote, as Bitcoin is officially referred to as a “safe haven” even by the mainstream media, however begrudgingly. Bitcoin value rises to over $650 USD.
In November, India demonetizes its 500/1000 Rupees, taking keep currency units out of circulation, and Bitcoin demand again explodes, selling Bitcoins for $1000 USD there, and Blockchain.info announces all-time records for Bitcoin daily and weekly transactions, and backlogged transactions.
Are you noticing a pattern here?
And yesterday, in Italy, the country voted a resounding “No” to Premier Renzi, forcing his resignation, turning its back on the failing globalist’s model, and potentially becoming a sovereign nation once again. This is what is known as a “Domino Effect.” The next domino to fall? France has their elections coming in 2017, and the tide seems to be well into the Nationalist La Pen’s corner. After the election of Donald Trump in the U.S., the momentum of nationalism is building, and the defectors from the E.U. are making an orderly line for the exits.
Digital Fiat Currency Will Also Fail
The more countries bail on the E.U., the more it becomes a crack in the dam that is becoming a wave that can’t be stopped. The E.U. is crumbling down, and there are still dozens of nations and economies to go. If you have learned anything in the history of Bitcoin, it should be that Bitcoin will not die, and it will benefit every time a national currency crisis is put into motion. Defecting from the E.U. will put these nation’s currencies under water for the short-term, and Bitcoin will continue to be the lifeboat of choice.
Not Gold. Not Silver. Bitcoin.
History repeats itself, and it will over and over again in the years to come. Welcome to The Era of Digital Currency, as nations begin to build theirs to catch up the “The Future of Money.”
Question: If their fiat currency thing hasn’t worked, why should anyone believe in their digital currency system? It will work much the same way if you think inflation, banker bail-outs and bail-ins, and no accountability is a resume to double down on.
The smart, savvy investor is moving in on Bitcoin, hard and fast these days. These national dominoes in the failed E.U. state will keep falling, for years to come, and Bitcoin will keep standing tall in these coming economic storms, created by the central banksters. Fools will rush in on their national digital currency models, built around control, surveillance, and preventing capital flight from their failed system.
This also leaves out the mathematical certainty that there will be other areas of the world going through demonetization, recessions, military coups and other sources of financial strife that will undermine other national currencies.
Hold on to Your Bits
I think I’ve made the point that the global economic turmoil we have seen is just beginning, and such issues over the years have meant strong gains for Bitcoin value. Last year, it was the world’s best performing currency, gaining over 35% in 2015. This year, it will double that ROI, and 2017, the way things are going, may double your Bitcoin pleasure, double your funds. Savvy investors had a cache of Bitcoins last year, this year, and will have some more in the future.
A national currency may be good for paying a monthly bill, but as far as protecting any nest egg, I’d rather have my money in Bitcoin and reap the benefits of the coming national and centralized currency failures. Gold and silver will be good to have around, but Bitcoin will be the king of digital currency over the next decade. The fall of the E.U. just guarantees it.
Do you see Bitcoin as a safe haven during economic crises? Let us know in the comments section below!
Images courtesy of shutterstock
Disclaimer: The views and opinions expressed in this article are solely those of the author and do not necessarily reflect those of Bitcoinist.com. Claims made in this article do not constitute investment advice and should not be taken as such.Show comments