6 minutes read

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The World of Bitcoin 🌐… is HERE

In an era where technology continuously shapes our daily lives, a new form of money💵 has emerged. This new currency, known as Bitcoin, represents not just a financial innovation but a whole new way to think about and use money.

Bitcoin

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Bitcoin is a digital currency, or "cryptocurrency," existing entirely online. Created in 2009 by an unknown person using the pseudonym 👤Satoshi Nakamoto, Bitcoin offers a secure, private, and decentralized way to manage finances without relying on banks or governments🏦🚫.

It is no coincidence that Bitcoin was created during the financial crash📉of 2007-2009, when the entire world began to lose confidence in traditional banks and the government's ability to handle the global economic disaster.

Is Bitcoin “money” then ?

In many ways, Bitcoin exhibits characteristics of💰money.

When Bitcoin was first introduced, it was initially just a form of digital transaction among a few tech enthusiasts. On May 22, 2010, a programmer named Laszlo Hanyecz agreed to pay 10,000 bitcoins💸for two large Papa John's 🍕Pizzas, totaling $41 at the time. However, if we examine the evolution of bitcoin, the chart reveals that 10,000 bitcoins are now valued at 10,000 x $69,100 = $691,000,000😱today.

Over the course of 1.5 decades, the price of a bitcoin has skyrocketed🚀from a few cents to above $700,000, transforming bitcoin into more of a store of value, akin to physical GOLD BARS, rather than a medium of exchange for everyday purchases such as buying pizza. 

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Bitcoin as Store of Value

How do I start investing in💰Bitcoin today ?

What if someone is interested in investing now but cannot afford the $70,000 price of Bitcoin😨? Worry not, Bitcoin can be traded in smaller units. Anyone can buy or sell hundreds of dollars' worth of Bitcoin in smaller units.

Let's say you can buy 0.014 units of Bitcoin worth about $980 in April 2024. ( A Bitcoin is worth about $70,000 today).

1. Trade & Store with Crypto Exchanges :

If you have no experience in Bitcoin, it’s best first start trading on crypto exchanges like Coinbase, Robinhood, Crypto.com, Kraken. They are similar to traditional stock brokers like Fidelity, Interactive Brokers, TD Ameritrade, and Charles Schwab. Crypto Exchanges will ask for your personal information to open an Account.

**Crypto.com is a referral link, please note that it doesn't serve as an invitation to participate in any investment. 🚫 Always perform your due diligence 🕵️‍♂️ and do not invest anything until you fully understand the asset. 💡

These crypto exchanges offer secure transactions for various cryptocurrencies. 🔐 (Apart from Bitcoin, there are numerous other coins established based on the Blockchain, which is the network where all cryptocurrency exists.) 🌐

But wait ! I thought Bitcoin was created for me to take control of my own finances without entrusting that to banks & governments ?

Bitcoin was originally designed as a decentralized and peer-to-peer financial system, aiming to operate independently of central banks and governments. This decentralized nature provides certain advantages, but it also entails potential risks due to the fact that you assume full responsibility for accessing and managing your own assets.

Think of it like this: you have the option of securing your gold bars in a safety deposit box inside your house, OR, letting the bank store your gold bars in their vault. Both scenarios come with risks:

2. Trade & Store on a decentralized blockchain

When you decide to purchase Bitcoin on a "decentralized" blockchain, you gain control over your finances and become the sole individual with access to your Bitcoin through a password. 🔑 This decentralized approach provides strong security against theft or unauthorized access. 🔒 However, it's crucial to recognize the tradeoff involved. Losing or having your password or key stolen could lead to the permanent loss of access to your Bitcoin. ⚠️ 

Here is an article introducing the top 10 crypto wallets as of April 2024. These are decentralized wallets, similar to the safety boxes you would consider purchasing for your home. These wallets do not ask for your personal information, instead you will be provided with a Private Key (which is a long string of code) , similar to the key for your home safety box.

If you happen to misplace or forget your private key, or if your Bitcoin is unfortunately stolen through hacking, there will be no external assistance available to aid you in recovering your assets.

In contrast, it's important to highlight that gold bars stored in a bank's vault are often federally insured. 💼 This means that in the event of unforeseen circumstances, such as bank insolvency or theft, there is a level of protection that ensures you may be eligible for compensation through federal insurance programs. 🛡️ This insurance coverage offers peace of mind 🧘 and an additional layer of security for your gold investments. ✨

If you choose to use crypto exchange (Coinbase, Robinhood…) , it is crucial to recognize that your Bitcoin will still be controlled by a "centralized" entity, which could pose certain disadvantages if that is your primary concern.

The information and educational content provided by🧔🏻‍♂️AI-Brian™ Newsletter is intended solely for informational and educational purposes and should not be construed as advice for trading or investment.

Bitcoin as a Generational Wealth

Is Bitcoin a Scam ?

The general public's skepticism towards Bitcoin often stems from a limited understanding of its technical aspects. Much like how physical gold functions in the traditional financial world, Bitcoin operates as a digital equivalent. 💻💰 Based on Bitcoin, numerous alternative coins and tokens, each with unique functionalities, have emerged, with Ethereum being the most notable. 🌐🚀

With AI (artificial intelligence)🚀 becoming a staple in our daily routines, the need for accelerated computing grows, creating a demand for quick value exchange that is - crypto currencies. 💻⚡🚀💲 

Recognizing the potential, traditional banks like Morgan Stanley, are now keenly exploring opportunities within the cryptocurrency realm.

So, how can Bitcoin become a source of generational wealth?

Unlike traditional currencies such as the US Dollar, which governments can print without limit, Bitcoin boasts a finite supply of 21 million coins. 🚫💵 This scarcity, akin to that of physical gold, could lead to Bitcoin's value increasing over the long term. 📈 Its design positions it as a hedge against inflation, helping to preserve purchasing power as the value of fiat currencies may decline 💸. 

Unlike physical gold, Bitcoin eliminates the need for physical storage and is incredibly efficient for international moves, as it doesn't require physical transportation. 🌍💼 

The future generations can access these 🏆digital assets from anywhere, thanks to their storage on the decentralized blockchain. 🔒🌐 This ensures that, much like physical gold, Bitcoin can serve as a lasting legacy, but in a more efficient and secure way !

Thank you for reading! 🥂

❤️ I appreciate your support and engagement.

Feel free to hit “reply” to this email with any questions or thoughts. Your feedback is important to me. Thank you for being a part of this journey and feel free to share the newsletter with your friends & family interested in AI & Tech !

🧔🏻‍♂️Brian Smith - CEO

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Here's to our future where Bitcoin reshapes asset storage and global financial landscape.

Warmly,

The Team from Memorializedme.com

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