Making Money In Bitcoin Without
Posted: Mon Jan 20, 2025 3:28 am
Making Money In Bitcoin Without Getting Rekt
Bitcoin Is Savings Technology
chunks of gold scattered on gold surface with bitcoin standing nearby drawing the comparison between bitcoin and gold
To make money in bitcoin without getting rekt (losing all your money), you need to first understand what bitcoin is. Bitcoin is not a “get rich quick” scheme. Bitcoin is savings technology. Bitcoin is a return to a world where you netherlands whatsapp number data actually save money and have it store value over time. This is why it’s often called digital gold.
Through trade, and over time, over thousands of years, the world decided that gold was money. It’s hard to dig out of the ground, easy to recognize, and doesn’t degrade over time. Gold contained the properties of money:
durable
portable
recognizable/verifiable
divisible
fungible
scarce
However, gold is very heavy and hard to divide into very small units, so over time the world moved to paper claims on gold instead. This worked until 1971 when governments around the world agreed to remove the link from paper money and gold.
Since then, our paper money is inflating away the value of our savings accounts at a rate of at least 2-3% per year in developed countries, and 10% or more in many others. We can’t save money anymore because governments basically have an unlimited money printer. We can’t go back to a gold standard either, because, well, we’d be stuck in the same position as before, struggling to move ships full of gold between countries to settle transactions.
Bitcoin Is Savings Technology
chunks of gold scattered on gold surface with bitcoin standing nearby drawing the comparison between bitcoin and gold
To make money in bitcoin without getting rekt (losing all your money), you need to first understand what bitcoin is. Bitcoin is not a “get rich quick” scheme. Bitcoin is savings technology. Bitcoin is a return to a world where you netherlands whatsapp number data actually save money and have it store value over time. This is why it’s often called digital gold.
Through trade, and over time, over thousands of years, the world decided that gold was money. It’s hard to dig out of the ground, easy to recognize, and doesn’t degrade over time. Gold contained the properties of money:
durable
portable
recognizable/verifiable
divisible
fungible
scarce
However, gold is very heavy and hard to divide into very small units, so over time the world moved to paper claims on gold instead. This worked until 1971 when governments around the world agreed to remove the link from paper money and gold.
Since then, our paper money is inflating away the value of our savings accounts at a rate of at least 2-3% per year in developed countries, and 10% or more in many others. We can’t save money anymore because governments basically have an unlimited money printer. We can’t go back to a gold standard either, because, well, we’d be stuck in the same position as before, struggling to move ships full of gold between countries to settle transactions.