BitCoin : The Money of People

[Henri Cartier]

I was reading the "Internet of Money" by Andreas M Antonopolus and here is an excerpt from the book -

“Approximately 1 billion people currently have access to banking, credit, and international finance capabilities—primarily the upper classes, the Western nations. Six and a half billion people on this planet have no connection to the world of money. They operate in cash-based societies with very little access to international resources. They don’t need banks. Two billion of these people are already on the internet. With a simple application download, they can immediately become participants in an international economy, using an international currency that can be transmitted anywhere with no fees and no government controls. They can connect to a world of international finance that is completely peer-to-peer. Bitcoin is the money of the people.

At its center are simple mathematical rules that everyone agrees on and no one controls. The possibility of connecting these 6 1/2 billion people”
“to the rest of the world is truly revolutionary.”

“Payment processors are going to be affected. These enormous companies charge higher fees to send money to poorer destination countries, a situation that is exploitative and corrupt. These organizations make enormous profits for a function that can be done in bitcoin nearly for free. As the adage of the entire internet once went, “I just replaced your entire industry with 100 lines of Python code,” that’s exactly what we’re doing with bitcoin.”

Excerpt From: Andreas M. Antonopoulos. “The Internet of Money”. Apple Books.

*Note - I have the e copy of the book, and it's a must read for beginners. You can message me and I will share it across.

[dothebeats]

Unlike anyone on the scene, Antonopoulos has my respect due to his understanding of bitcoin's nature and how it can really help people connect with each other without the use of centralized financial services offered by banks. He's not a man of senseless talks; his ideas are well-thought of and that is what I liked about the dude. I also had a copy of that book which I gave away to a friend of mine after finishing it, and I will also agree that it's a good read for anyone wanting to have a view of a neo-liberal.

[proTECH77]

Without missing words Bitcoin is the money if the people and also, can be term the people freedom. The long suffering of the people in respect of financial freedom has come to stay and thanks to those who understand the reality and actualization of this the technology called Bitcoin. For those who understand the technology and appreciate, and those who spreads it important to the word are worthy of commendation, this is indeed the people's money because is not centralise like other coins or tokens and the fiats.

[seoincorporation]

To have all the people connected to the internet is a hard challenge, places like Europe have no problem with it, but if you think about 3rd world countries it represents a true challenge for them, ring now Mexico is dealing with this issue, the president wants to give internet access to all the country, but some sites don't even have electric light, this is why the challenge is big.

[Indamuck]

Bitcoin is already unobtainable for most of the world's population.  It will always be unfair because how it was launched , most people didn't even hear about bitcoin until it was too late.  Most people don't have 10 grand to spare on one coin.

[BrewMaster]

Bitcoin is already unobtainable for most of the world's population.  It will always be unfair because how it was launched , most people didn't even hear about bitcoin until it was too late.  Most people don't have 10 grand to spare on one coin.

you just proved that you didn't read OP and you don't understand what bitcoin is and why it was made. your whole argument is cicling around the price and the "FIAT PROFIT" that you can earn from it.

but bitcoin is not about that, bitcoin is about cutting the middle man like banks and take their power away and transfer it back to people. at any time you want, at any price you want you can dump your fiat and gain this advantage and for that, it will never be too late.

[Censed]

Bitcoin will always rise because its supply is really low, apart that this started with the cryptocurrency and at some point billions will enter this market and all good projects will go to the moon.

[Artemis3]

Bitcoin will always rise because its supply is really low, apart that this started with the cryptocurrency and at some point billions will enter this market and all good projects will go to the moon.

More than bitcoin rising it will stabilize. Thing is, all fiats are devalued intentionally, while bitcoin will find its price and stay there more or less like gold does.

But if you compare it against those fiats that keep getting inflation every year, then it might look like bitcoin will always be on the rise. Its actually everyone else going down, and that's not bitcoin's fault.

You see, the USD has to lose 2% yearly because that's the the Chicago school dogma dictates, and so do most of the other fiats, more or less, they always have to lose value. They are scared of deflation, something the Austrian school explains pretty well how can the economy work with.

Follow the Austrian principles and everything falls in place. Keep thinking the other way, and you will always be scared of a coin that doesn't lose value over time. For starters, put an end to fractional reserve banking. No more economy growing overnight due to debt, but slow and steady growing due to people's own real savings.

[BitHodler]

Bitcoin will always rise because its supply is really low, apart that this started with the cryptocurrency and at some point billions will enter this market and all good projects will go to the moon.

Currently it will, but eventually there is a ceiling even for Bitcoin. We're doing exceptionally well because this market hasn't been taken over by cash settled products yet, which it eventually will be.

Bitcoin's supply is so extremely low that institutions will create liquidity around a product of the underlying asset, but without actually being backed by it. CME's futures platform is just the beginning of that.

Sure, it will take years and years to be there, probably a decade or so looking at how these products wrecked the gold spot market, but it's only a matter of time, not if. Definitely not something to discard.

[hatshepsut93]

Where did he get that data that 6.5 billions are unbanked? I did some quick googling and found this World Bank report that says that 69% of the global population has bank accounts - that leaves 31%, which is ~2.25 billion.

Next, it's not as easy as saying that unbanked people will use Bitcoin because they are unbanked, they can be unbanked by choice - they are happy with using cash and don't feel the need to use electronics, or maybe they are so poor that they can't even afford a phone.