Sometimes I listen to Adam Meisters Bitcoin podcast and let me clarify that right away: You should listen to that man whenever you are not sure about what to do with your bitcoin. He is a great source of insipiration, so I want to share some of my thoughts in this post. But check out his channel and see what comes to YOUR mind.
This bitcoin thing is by far the most interesting thing I have ever encountered.
When I looked at it the first time, it was a means to send money bypassing banks.
Most people think it is an asset for speculation.
For some it is an objective method to measure your wealth.
It is a tool to ensure that nobody can create money out of thin air without creating value at the same time. Regardless how powerful that person or organization may be.
It is a tool that ensures that if you spend your wealth for something that does not create value, you lose
It is a tool to vote for what you think is the right path to go. Thats a complicated one, so let me explain: Somebody might choose to pay you in dollars. If you exchange some or all of that money you earned into bitcoin, you weaken the dollar and strengthen bitcoin. If you think that bitcoin fees should be kept at a level affordable to even very poor people, then you might choose to strengthen a coin with very cheap transactions. This will put pressure on bitcoin to keep transaction fees low. And this pressure strengthens bitcoin in the long run. If you don't want early bitcoin adopters to be the elite of the future, put your wealth in a coin that is more fairly distributed. This will put pressure on bitcoiners to share their wealth more generously which will again strengthen bitcoin in the long run.
Bitcoin is an open ledger. Everybody can verify and analyze the transaction outputs. If there is a bank claiming to hold funds for customers, bitcoin is the tool to make it easy for them to prove each second that they control the exact amount of funds. Today you can only hope they will give you your money back when you claim it (even nominally let alone the original money value).
Bitcoin is a tool to protect you. Nobody can confiscate your bitcoin unless you cooperate. And if you can prove that you cannot access your bitcoin quickly there is no reasonable incenctive to steal it.
Bitcoin is the tool to solve wealth concentration. A scenario where 1 % of the population owns 90 % of the wealth can only happen if those 90 % willingly accept this. More likely they will just move to a coin (e. g. by modifying bitcoin) which is more fairly distributed. And there is no way for the 1 % to prevent this from happening. Bitcoin is only valuable if its distribution is sufficiently fair according to overall consensus
To be continued