"Money is the root of all evil" is a saying that you have undoubtedly heard someone say. In a world in which the gap between rich and poor is constantly widening, this statement seems to contain a grain of truth. In that sense I also understand where the statement comes from, but it is incorrect. Our current financial system in which fiat money is leading and governments have a monopoly on the money press is the root of most inequality. Most inequality because the existence of inequality is inevitable in a world where no one is the same. Bitcoin is a way to narrow the growing gap between rich and poor and make the world a bit fairer. Not the solution to all problems, because there is no such thing, but it is a way to make life more beautiful for everyone.
To understand that, I have to start with the great problem of our current financial system with regard to the effect on the distribution of wealth in the world. If we understand that, it is even clearer how bitcoin has a positive effect on humanity and is an investment that benefits everyone.
The problem of our current financial system
Humanity as a whole is making continuous progress in almost all areas and that progress is accelerating. Technological progress ensures that we can produce more efficiently, faster and in theory also cheaper. Isn’t it strange that everything is getting more and more expensive? In a world of continuous progress and growth in production, everything in the supermarkets should drop in price and life should become easier and easier.
A hundred years ago, people fantasized about life today as a time when we could make a living with 10-hour work weeks. Nothing could be further from the truth, because the opposite seems to be happening. People have started working more and more and in most cases it is no longer possible to support a family with one salary. What is going on?
In a world where everything should become cheaper because of the progress that we as humanity are making, life is actually getting more and more expensive. This has everything to do with the money press that is turning endlessly and ever faster. Governments are printing more and more money, which means that everything becomes more expensive and only a small part of humanity benefits from the progress. A small group of people benefits from the progress we are making as humanity. Bitcoin is here to change that.
Bitcoin is an investment in humanity
Our current financial system ensures that a small group of people benefits from the progress we are making as humanity. That everything around us is getting more expensive in a world where in theory it is becoming cheaper to produce things. The main reason for this is the unlimited printing of our money. Bitcoin has a maximum of 21 million units set in the computer code that is monitored by a decentralized network of users.
No one has the power to make extra units above that 21 million bitcoin because no one in the network benefits from it. The number of bitcoin will therefore always remain the same. If humanity’s production increases by 5% and the total amount of bitcoin remains the same, the purchasing power of bitcoin will increase by 5%. If the total amount of bitcoin would also increase by 5%, the purchasing power of bitcoin would remain the same. But bitcoin inflation eventually goes to 0%, which means that bitcoin will continue to grow with the advancement of humanity for all eternity.
Bitcoin is therefore an investment in humanity and a form of money that ensures that everyone who saves in bitcoin benefits from the progress we are making together. No longer does a small group of monopolists benefit from human production growth, but everyone can share in the prosperity. Bitcoin is not the solution to all inequality, but at least ensures a more level playing field. Do you invest in bitcoin? Then you invest indirectly in the emergence of a financial system that will destroy the current unethical financial system. Bitcoin is an investment in humanity in several ways.