Bitcoin wasn't created to be an investment. A full year after bitcoin's release, it didn't have a dollar value at all. It wasn't until Laszlo bought a couple pizzas for 10,000 BTC in May 2010 that bitcoin found its first real price.
Today all you hear about bitcoin is price and investing, but the reason bitcoin has value at all is because of what it can do. Features like being trustless, permissionless and immutable are hard to understand until you need them.
This week, retail investors experienced first hand the pitfalls of using centralized systems. Investors on Robinhood, TDAmeritrade and others woke up to restricted accounts and frozen communication channels.
It was inevitable, because:
- The stocks in your trading accounts are not yours
- Your social media profiles are not yours
- Your gmail address with a lifetime of contacts and communications are not yours
- Your files backed up in the cloud are not yours
- The money in your bank account is not yours
Bitcoin was the start of a revolution to decentralize power and control. If you're still hodling bitcoin on an exchange you're missing the point.
Learn how bitcoin works and how to use it properly or risk your bitcoin inevitably being frozen. For if you're not hodling your bitcoin yourself, it's not your bitcoin.
To the moon 🚀 — @GΞR฿Z Founder & Creator @ BitLift
Tweet of the Week #1
The /r/wallstreetbets community has always been against crypto. It wasn't on brand LOL - but they're starting to see the light (Check out a chart of Dogecoin this week). This week's tweet reminded me of that scene where Neo began to see The Matrix for what it really is.
Tweet of the Week #2
Jack Dorsey, founder of Twitter has always had "#bitcoin" as the only word in his Twitter bio. Today, Elon followed suit and fired off this second tweet of the week. The richest man in the world now hodls bitcoin. It really was inevitable.