This is an opinion editorial by Heather Everdeen, a mom, Bitcoiner and lifelong learner.
Dear Friends and Family,
The factor I would like you to perceive about FTX is that these are fiat issues, not Bitcoin issues. Bitcoin is unaffected apart from its fiat forex trade charge. The bitcoin value is impacted due to all of the strain on these exchanges and funds to promote their belongings. Bitcoin is some of the liquid belongings there is; it’s straightforward to promote instantly when you have got to. There is nonetheless a brand new block roughly each 10 minutes. Bitcoin retains operating, unaffected.
FTX was all about cash, cash laundering(?), energy, corruption, attempting to get U.S. regulation that advantages solely these closest to the cash printer. All whereas on a regular basis folks have been chasing extra empty fiat beneficial properties.
We can not create a greater world till we give up chasing beneficial properties primarily based on {dollars} and begin saving and planning for our future as an alternative. I don’t find out about you, however I would like to construct a greater world to depart my kids and grandchildren sooner or later. I’m not OK leaving it to them like this.
All of those exchanges are homes of playing cards. Many extra will collapse. While there can be extra cryptocurrency exchanges, I’m actually speaking about all issues fiat: banks and hedge funds, pensions, 401(ok) plans, fiat firms, and so forth. I’ve no crystal ball, however I’ve seen the long run. If I belief that imaginative and prescient, bitcoin wins. I imagine it. We’ll see.
I’ve additionally spent the final 5 years and hundreds of hours — in all probability over 10,000 hours now — finding out cash, the monetary system, buying and selling, currencies, the Federal Reserve, central banking, cryptocurrency, Bitcoin and higher economics than those we’re taught in class — Keynes was horrible.
Though it might be annoying, I discuss it a lot as a result of I see what is occurring and I would like to assist my family and friends. Our cash and monetary system was arrange to be advanced and complicated on goal. They don’t need folks to perceive it, as a result of if they did, they’d revolt. This is why the little man will get scammed on a regular basis. It was designed this manner.
This financial system is not sustainable and can fail. We will see it occur in our lifetime. It is occurring proper now.
There is one other method: purchase, maintain and use your personal bitcoin. Be your personal financial institution. No middlemen, simply you and your personal cash. Use the system that was designed to free folks and never the one designed to enslave folks. My “vote” is with my cash. I vote to rid myself of those fiat chains and low-vibrational programs and be a free, sovereign being. I exploit bitcoin.
You ought to too.
This is a visitor submit by Heather Everdeen. Opinions expressed are fully their personal and don’t essentially mirror these of BTC Inc or Bitcoin Magazine.
