Activity Lesson 5

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How no 1 person or entity is able to control Bitcoin’s monetary policy

Bitcoin empowers everyone around the world to control their own finances regardless of the country they live in and the political system in place.

Image taken from: itcoin https://www.newsbtc.com/news/lightning-dev-explains-why-bitcoin-is-poised-to-become-the-global-currency/

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A lot of people have believed that bitcoin is usless and a scam and still believe that even to this day. This perhaps will continue for another few years in the future… :rofl:

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:yin_yang: Abracadabra :lips: BITCOIN is :x:NOT Currency; It’s The INTERNET Of :chains:MONEY! image

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This describes Neutrality and Proof of work as even if more BTC needs to be printed or more people want more BTC, it cant happen. The rate of BTC being produced stays the same no matter the incentive for wanting it as the difficulty increases to always keep blocks being produced around 10 minutes per block. Also it shows the mining rig that produces electricity which is the proof of work.

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This is still true (2020). Too many peoples just care about price and are FOMOing in, when the price is rising. But god thanks, there is the IVAN ON TECH academy :slight_smile:

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Whilst the world started to panic and the economy took a down swing, those that are coming online with the concept of BTC understand the future importance and freedom that will evolve from this. Not only as a future store of wealth but a future means of liberation from the current situation and thus don’t panic stay calm and invest in the bigger picture.

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Does the opposite of the current fiat system.
Keeps its purchasing power.

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Store of value for years to come. Fixed supply.

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Most people are focused on the short term price action. This leads them to discount the fundamental benefits of the technology behind bitcoin. I myself fell into this category at first glance. Point is even if bitcoin crashed now I would probably keep my capital stored in it. I have a hard time believing it will be worth less than it is now in 10 years.

Buffett recently dumped all his bank stocks for gold; reversing his past view on gold’s value. Gold is neutral. Bitcoin is neutral.

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As spoken about under the “Neutrality” part of the course. Bitcoin is taking away the Stat’s monopoly on creating money.

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Bitcoin BTC = Store Of Value, Bitcoin is a very durable asset that cant be destroyed, it now has significant purchasing power is highly liquid and value dense.

I think this photo shows exactly the current situation.

hodl
Hold the line!!! Keep hodling guys… Bitcoin is going to 20K very soon!!! :rofl: :rofl: :rofl: :sunglasses:

People often does not understand the great technology behind it. And even though they do, they jump in because of the money / investment (which is also a great aspect of bitcoin - it can serve as money, store of value, investment, etc.)

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