Bitcoin Goes Parabolic
Proponents of precious metals need to be very careful not to tread into the realm of religious dogma when it comes to money. The point of gold and silver is not to sit around worshipping its beauty and the fact you have to mine it, but rather to appreciate it as a means to an end. As a way to vote against the corrupt monetary and financial system plaguing the world. As a potential means of exchange that is decentralized and not of or by the government. While I personally don’t plan on putting a huge amount of my net worth into Bitcoin, I support it wholeheartedly for what it represents and the ingenious philosophy and technology behind it. Do I think Bitcoin could become a huge deal in the world of currency over the next decade? Yes, I do. Do I also acknowledge the enormous risks inherent in it. Yes, I do. Once again, that’s not the point.
The point is no matter what ends up happening with Bitcoin, it is showing us all the way forward. It is showing humanity that we don’t need government for money. We certainly don’t need Central Banks. All we need is each other and a mutual means of exchange by which we agree to trade with each other, no matter what that may be. Bitcoin has led the cat out of the bag and there’s no putting it back in now.
As I write this, there are about 10.9 million Bitcoins in existence, putting the entire market at around $775 million. To put this into perspective, even after this parabolic move, Ben Bernanke still prints into existence an average of four new Bitcoin markets every single day.