How to make your relatives drink orange-pill this holiday season
Welcome to the exciting time of the year, when loved ones judge you for your interest in Bitcoin (BTC), praise you, or simply ask, “What's that?” They ask you.
Convince family and friends with strong arguments to convince your curious aunt or defend yourself against your son-in-law who just got his economics degree.
In this interesting survey, we will delve into the world of digital currency knowledge and find out why Bitcoin maximalists sing songs about the first cryptocurrency.
Keep it light.
When a family member opens the window to talk about Bitcoin at the Christmas dinner table, you have to consider who your audience is. Remember, the goal is not to force someone to accept Bitcoin, but to provide accurate information and allow them to make an informed decision.
Balancing your approach to individual or group perspectives and concerns will contribute to a more positive and constructive discussion.
As you may have experienced in the past, when asked about Bitcoin, you typically find yourself in a defensive position and full of skepticism. Be aware of situations and do not explode in emotional protests; Be patient and let the arguments speak.
Prepare some examples and real-world use cases in advance and practice your argument because it's easy to get lost.
Strong arguments for Bitcoin
Before you sit down at the Christmas dinner table, it might help to anticipate the most compelling arguments for Bitcoin.
Shortage of Supply: Bitcoin's fixed supply of 21 million coins makes it a scarce digital asset comparable to precious metals like gold. The scarcity contributes to the value proposition. Decentralization: Bitcoin operates on a decentralized network, reducing the risk of government interference and censorship. This feature enhances resilience as a global, borderless currency. Security: Bitcoin's proof-of-work consensus mechanism ensures high security, resisting attacks and fraud. Store of value: Bitcoin's narrative as “digital gold” positions it as a safe store of value, especially in times of economic uncertainty. Network Effect: Bitcoin has the largest and most established network in the cryptocurrency space. This factor contributes to its liquidity, recognition and overall strength.Censorship Resistance: Bitcoin transactions are censorship resistant, meaning individuals can transact without fear of having their funds blocked or confiscated. This is consistent with the principles of financial freedom and privacy.Hodler Culture: The Orange Pill Narrative embodies the hodler mentality, which encourages individuals to hold Bitcoin for the long term rather than engage in short-term trading. This strategy corresponds to a belief in Bitcoin's future value appreciation.Halfing of Events: Bitcoin halves its events approximately every four years, slowing the rate of creation of new coins. This scarcity mechanism is a huge factor in Bitcoin's long-term value. Innovation and Development: The continuous development and innovation of the Bitcoin community, such as the Lightning Network, reflects the adaptability and progress within the Bitcoin ecosystem. Global Adoption: The adoption of Bitcoin as a means of payment, store of value and investment is increasing globally. This trend is seen as proof of Bitcoin's growing importance in the financial landscape.
Bitcoin: The next step in financial development
Money took many forms, shells, salt and precious metals were all used as exchange. When the empire began to expand, governments began to issue paper money, originally representing the demand for precious metals.
The U.S. dollar, the world's reserve currency, was initially backed by gold reserves until it transitioned to a fiat currency in 1971. U.S. President Richard Nixon permanently detached the currency from the gold standard, giving central financial officials a new form of money that they could quickly access. Increase the money supply.
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Bitcoin proponents say that this loss of solidity has led to price inflation because politicians are unwilling or unable to address the underlying issue.
In the year The eponymous Satoshi Nakamoto emerged during the 2008 economic crisis, when he saw the unprecedented bailouts of state-owned banks to pay for risky financial behavior. Just like Christmas, this individual brought his gifts to the public in the form of a new currency, Bitcoin.
Bitcoin: Currency vs. Price storage
As described in the white paper, Nakamoto designed Bitcoin as a peer-to-peer electronic money system. Since its inception, Bitcoin has been interpreted in different ways. The creator envisioned it to be a digital currency for people only.
However, Nakamoto's BTC vision has yet to be fully realized. As usage of the Bitcoin blockchain increases, it can become overloaded with traffic, delaying transaction times. While Bitcoin can transfer vast amounts of wealth across borders at a fraction of the cost of traditional financial systems, in some cases, like paying for coffee with BTC, it can be expensive in terms of network costs and slow in confirmation times. Fortunately, Bitcoin is an evolving network with a strong community of developers.
There is fierce debate in the community, but the ultimate goal of Bitcoin developers is to provide a reliable, functional and decentralized currency that can be used for payments. Many solutions have been proposed, including layer-2 solutions.
The Lightning Network (LN) is a second-scale solution for blockchain networks, enabling faster and cheaper transactions by creating off-chain payment channels. Lightning performs all the accounting of daily transactions in an independent network connected to the main Bitcoin blockchain. As all operational computing is done in free networks in many pockets, the transactions do not complete the Bitcoin network. Once, LN sends business groups to the Bitcoin ledger with one transaction so they are registered. LN can make software that can manage BTC daily payments using the Bitcoin blockchain for all its positive features without congesting the network.
There are many changes in Bitcoin adoption. Anyone with a cheap smartphone and internet service or SMS network can use BTC.
Michelle Saylor, former CEO of Microstrategy and staunch Bitcoin supporter, considers BTC the perfect modern tool to counter the inflation created by government-issued fiat currencies. In one of the best Orange Pill demos on The Tucker Carlson Show, Saylor highlighted the elephant in the room. For Sayler, the modern middle class's reliance on cash forces them to work harder to get paid in a weak currency in a never-ending cycle.
Bitcoin's potential as an asset is enormous. Because of all its engineering properties, the markets may see Bitcoin as the new digital gold. As a good inflation hedge, bitcoin can slowly shift the market as institutional investors move in. It could take a chunk of gold's $12 trillion market cap, as well as the combined real estate and domestic currencies to a $200 trillion market.
A positive effect of the shift in markets that Saylor mentioned is that utility markets are showing up as Bitcoin monetization becomes more popular. Some speculative markets eventually return to their original purpose. Real estate will not be one of the first choices as a wealth preservation investment, and stocks will fight for a company's intrinsic value rather than being investment vehicles to hedge against inflation or markets that receive injections of liquidity from money printing.
Bitcoin is a digital asset.
In the future, Bitcoin could become a currency or the perfect store of value to replace gold. Around the world, analysts are slowly but steadily realizing Bitcoin's deeper significance: a digital asset. And this may be the main aspect.
No one knows how to turn money into a digital asset. Similar examples include the successful digitization of photos, books, education, communications and communications. These examples are key to the success of Amazon, Facebook, Microsoft and Apple, which created the ability to digitize certain sectors.
Bitcoin could hit the bull's eye and create a capital asset. Its functions are that individuals have new ownership rights in the digital realm. Bitcoin gives individuals true ownership and control over their wealth without relying on traditional financial institutions.
In a world of out-of-control collective emotion, society may have sincerely found something to keep people in control of their lives. Santa, please pack some seats as gifts.
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