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WHAT IS BITCOIN?

Creation of Bitcoin

Many believe Bitcoin to be a random creation. However, that is one of the most misunderstood facts surrounding the history and creation of Bitcoin.

 

Bitcoin's prehistory goes all the way back to 1974 and is made up of extensive research efforts across many different intersecting fields including internet technology, IT infrastructure, hardware and software technology, mathematics (cryptography), internet communications, economics, and financial technology.

Bitcoin is the result of 4O years of research, development, and demand for a digital money.

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Bitcoin is simply a decentralized public accounting ledger maintained on a public network of computers where entries are digitally recorded, signed, and verified by its users (miners, accounts, nodes) to facilitate digital money as a medium of exchange.

The blockchain completely removes the need to trust counter parties, such as a banks or other financial institutions, and allows for peer-to-peer transactions with fast, cheap, and secure settlement.

 

Once you understand What is Money and the History of Money, it's easy to see why the creator(s) of Bitcoin chose to stay anonymous...to avoid a death wish.

Meyer Amschel Rothschild, who founded the international banking house of Rothschild which, through its affiliation with Central Banks, dominates the financial policies of practically every country in the world, said:

 

"Permit me to issue and control the money of a nation, and I care not who makes its laws."

Whether we admit it or not, the ability to control money is a great power, even greater than the ability to control the law.

In fact, the Bible says in 1 Timothy 6:1O "The love of money is the root of all evil..."

The globalist cartel loves money because control over money gives them control over nations.

Bitcoin is humanity's attempt to create a perfect digital money that is decentralized (not controlled by any one entity or conglomerate of entities) and therefore without bias.

 

Anyone attempting to disrupt the status quo of money & currency is a risk to the existing power structure that will do anything to maintain control over the nations' monies.

A public profile for Bitcoin's creator(s) would guarantee a life with a target on their back(s).

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Energy Money; An Old Idea

Over 1OO years ago, on December 4, 1921, the New York Tribune published an article outlining the famous car maker Henry Ford's vision of replacing gold with an energy currency that he believed could break the globalist banking cartel's control over nations and even end wars.

Ford’s argument for energy currency was that, unlike gold, energy could not be controlled.

 

Instead, every country could issue currency based on the natural wealth of its energy resources.

 

The standard for this system was to be an amount of energy exerted which was equal to $1.

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Henry Ford said:

"Under the energy currency system the standard would be a certain amount of energy exerted for one hour that would be equal to one dollar. It’s simply a case of thinking and calculating in terms different from those laid down to us by the international banking group to which we have grown so accustomed that we think there is no other desirable standard."

Decentralized Energy Money

Henry Ford's kilowatt hours (kWh)-backed currency is quite similar to Bitcoin, which is also "backed" by energy input. 


Bitcoin’s dollar price history directly correlates to the raw amount of energy (in Joules) needed to create it.

Most importantly, ANYONE in the world is free to participate in Bitcoin mining. This makes the network of miners decentralized.

As F.A. Hayek stated in the video, Bitcoin is how humanity can, 'in a sly and roundabout way',  peacefully take the control, and the corresponding power, of money out of the hands of government and put it back into the hands of We the People where it properly belongs.

Bitcoin is commoditized energy in the form of money. As an energy-backed reserve asset it has been strategically designed to leverage the natural laws of economics to properly store value (aka purchasing power) through time. 

Within the Bitcoin protocol is what is called the "Difficulty Adjustment." This adjustment can increase or decrease the cost to produce Bitcoin. This function is what backs Bitcoin's value.

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 Reserve Asset of Internet Economy 

In traditional finance, the systemic reserve asset that backs the value of everything (bank deposits, credit, etc.) is United States Government Debt (US Treasuries).

 

US Treasuries, which also back the US Dollar, are the backbone to the traditional financial system and currently have the largest base layer of demand (buyers) in the world.

 

However, for the first time in over 11O years, the rest of the world is turning away from the dollar as a reserve asset. For instance, since 2O18 China's holding of U.S. Treasury debt have declined 3O%.

The internet economy is an aggregate economy of the entire world of digital transactions. This digital economy is growing faster than any other economy in the world; it's also the only debt-free economy in the world because there is no centralized power that can issue treasuries (debt). 

 

No one nation-state's economy can outcompete the sum of earth's digital internet economy.

Bitcoin is the reserve asset of the internet economy. It's an asset class unto its own.

 

The biggest institutions and fiduciaries in the world are now allocating funds into this sector.

Bitcoin is taking over the roll of "reserve asset" in the internet economy. No other blockchain is decentralized or capable of delivering the same network security of Bitcoin.

Bitcoin has the largest growing base layer of demand in the world; adoption is actually outpacing the rate of adoption that we saw with the world wide internet.

Pristine Collateral

As you now know, Bitcoin is commoditized energy in the form of money and the reserve asset of the internet economy. This success in the marketplace, stemming from trustworthy and secured monetary policies (difficulty adjustment, halving, fixed supply) unlocks Bitcoin as pristine collateral.

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