Peter Aitch on Clubhouse

Bio

Don’t be weak hands, HODL and increase your DCA purchases on the way down. If you liked Bitcoin at 67K you surely love the current levels. You can thank me later. Now read on and enjoy.

Before medium of exchange, the humanity was using barter system which became quite clunky as civilization evolved.
We moved on to exchange gold for goods and services and were able to better measure the value exchanged. After using gold as a medium of exchange for centuries, the banks decided that it’s easier to use paper money (IOUs backed by gold) instead of lugging gold coins around. The biggest scam was created when the paper money became a currency. And hence a Fiat system was born when the US and other economies stopped backing the paper with gold and instead “backed it” with a mere promise that the value of the note is what it says on its face. We then moved to the credit based society which in its principle is unsustainable from an Austrian perspective.

We started to use credit cards, got incentivized by getting cash back, airline miles and other “perks”. We traded “crumbs” for our privacy since any of those transactions are tied to the location, time, date and goods/services purchased.

In attempt to hedge against the centralized banking through currency, Bitcoin was born...

It is the final step in the monetary evolution that reverts some of the evils of central banking. We don’t know what we don’t know, but our future knows...

And the future is Bitcoin.

If you’d like me to elaborate more on this subject, ping me up, let’s open a room and chat.

(This article was created by me and I don’t wish it’s redistribution unless you credit me as an author)


You can also help support my work at:
BTC: bc1qd2p9ewhkc4l3znk9h972tuumwujd63y02ygtzy
I provide services redeemable in Bitcoin.
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