BITCOIN
The Greatest Invention of Our Lifetimes
Yes, I believe bitcoin is the greatest invention of our lifetimes and to make my arguments I will start with the following first principles:
Principle #1
Property is the product of one’s life energy (time, energy and talent) and is therefore an extension of one’s self. Any attempts to take ones property against his or her voluntary consent is a direct attack on that persons life and these actions are considered “anti-life”.
Principle #2
Just like the Law of Gravity (and other natural laws), capital (wealth, money, assets), talent (human ingenuity), and human beings have a tendency to gravitate to where they are protected and respected most.
Principle #3
Recognition of principles #1 and #2 gives a person an entrepreneurial advantage in the marketplace.
Why Bitcoin
Bitcoin is a fixed supply, digital asset that is fungible, decentralized, censorship resistant, private when used correctly, and easy to protect and transfer across space and time.
Handled properly, bitcoin is the easiest type of property to protect and will therefore rise to become the world’s most demanded property. In my opinion, these characteristics make bitcoin the best money the world has ever known.
Your Opportunity
You can still acquire bitcoin before the masses do and you can benefit exponentially from the inevitable wealth transfer that will take place as people transition away from inferior monies. People will do this out of pure self-interest and self-preservation.
The earlier you acquire bitcoin, the greater you will benefit from this coming wealth transformation. Eventually, everything will be priced in bitcoin. Until then, this is how you will know that you are still early.
Bitcoin Quick Start Guide
Step 1: Set up a wallet to send and receive your first bitcoins. Here are three I recommend:
- CoinOS.io – this is the fastest, web-based wallet to set up. All you need is to create a username and password and you’re ready to go. Great for creating an instant wallet “on the fly” and is perfect for helping a new person get set up quickly and easily. Also great for small businesses to quickly begin accepting bitcoin and Lightning payments. One shouldn’t leave large balances on this wallet as it is a custodial wallet which means they hold the coins for you until you spend or transfer them out. Therefore I recommend that you transfer funds larger than pocket change to:
- Green Wallet by Blockstream – Solid phone app wallet built by one of the most trusted companies in bitcoin. This wallet allows you to create both a bitcoin wallet and a Liquid wallet (for holding Liquid-based tokens as well as the Tokens of Authenticity that accompany my artwork). This wallet gives you full custody of your bitcoins (private keys) and it is great for carrying your “walking around” money. For your largest holdings I recommend using:
- Jade Wallet by Blockstream – this is where you can store your largest sums in the most secure fashion and you have full control of your bitcoin private keys
- There are many other wallets that others recommend but the 3 above have served me well and are a great place to start.
Step 2: How to get bitcoin
- Start accepting bitcoin in your business.
- Buy from a friend who has some to sell.
- Sell personal items for bitcoin.
- Buy, sell and trade my art. We have an active trading community and many collectors prefer to use bitcoin when buying and selling so it is easy to accumulate both bitcoin and Minnaars
- Buy from a peer-to-peer exchange like HodlHodl.com or bisq.network
Step 3: Learn why bitcoin was created
- An excellent place to start is Saifedean.com. I highly recommend his books starting with The Bitcoin Standard; his podcast, and his YouTube channel.
- NakamotoInstitute.org – The articles in The Memory Pool are “must reads” in my opinion.
Step 4: Continue learning. There is no end to the areas that bitcoin touches because money touches everything. Your journey is just beginning and it is exciting to discover the many ways that bitcoin can bring us a more peaceful and prosperous world!