Why I’m Going to Live on Bitcoin

I get hundreds of emails every week asking about crypto. People want to know how to get it. They want to know how much it’s going to be worth. They want to know why it’s better than fiat money. They want to know what it’s all about, and why we’re so bullish on it.

I am hugely positive about the long-term potential for bitcoin and cryptocurrencies. I think they’re leading an entire financial revolution. One that will break free from the shackles of a broken ‘traditional’ financial system.

The creation of bitcoin and cryptocurrencies is a wealth creation event. It is a chance for distributed networks of people — just like you — to create wealth. We’ve never seen anything like this before.

We’ve never had a moment in history where literally everyone has a chance to build wealth from scratch. That might sound a little crazy but that’s what’s happening now. And for a lot of people that’s simply too good to be true.

Listen to the ‘other’ side of your brain

In my book, Crypto Revolution: Bitcoin, Cryptocurrency and the Future of Money, I tell a personal story from 2010. I had priced up a bitcoin mining rig, and was going to become a miner. This is when it was still viable to mine bitcoin solo.

In researching bitcoin and everything about it, I too thought this was ‘too good to be true’. It was an opportunity to create actual wealth from what was essentially computer code.

Back then bitcoin was volatile and worth a lot less than today. It was only a few dollars per bitcoin. But I’d seen it rise from just a few cents. And then peak at over $30. And then crash back to a few dollars. For all the effort and expense into bitcoin, mining and everything else involved, I too struggled with the idea of wealth creation from nothing.

Every fibre of my ‘traditional’ financial and economic education said NO! My reasonable brain said, stay away it’s too volatile, you’ll be throw money away. Getting in was too risky, and I had a mortgage to pay.

The edge-of-the-bell-curve part of my brain said, this is something unique. You can grow your own money tree. This is literally printing your own money. Do it, and don’t look back.

Well the reasonable part won over on that point. But subsequently, I came around to listen to the other side. And eventually the non-traditional thinking side won over everything else.

And since then, I’ve been trying to explain to people the enormity of what’s happening every single day. Bitcoin and cryptocurrency are developing an entirely new alternative financial system.

This new system is a threat to existing systems. It’s a threat to the power of government. It’s a threat to the influence of central banks. It’s a threat to the wealth of Wall Street.

That’s why it shouldn’t come as a surprise that the most vocal critics of bitcoin and crypto are Washington, the Fed and Wall Street.

However there are still a few smart people out there. Not everyone that works for the likes of the Fed, or JP Morgan or the government is ignorant.

Bloomberg reports that, ‘Mark Carney has cited cryptocurrencies as part of a potential “revolution” in finance.

And the Bank for International Settlements (BIS) says banks simply can’t ignore crypto anymore. BIS is like the central bank for banks. If you’re a Game of Thrones fan (let’s face it, who isn’t?) then BIS is a bit like ‘The Iron Bank’.

BIS realises that the rise of ‘non-bank’ cryptocurrency is a real threat to the existing banking system.

‘…all central banks may eventually have to decide whether issuing retail or wholesale [central bank cryptocurrencies] makes sense in their own context. In making this decision, central banks will have to consider not only consumer preferences for privacy and possible efficiency gains — in terms of payments, clearing and settlement — but also the risks it may entail for the financial system and the wider economy, as well as any implications for monetary policy

What BIS misses is that CBCCs are still central bank issued and controlled. And that’s the key distinguishing factor to why crypto is unstoppable. The average person doesn’t want some powerful few to control the direction of their wealth.

The average person doesn’t want to suffer another global financial crisis because of the actions of global elites. The average person is sick of the corruption, fraud and complexity of Wall Street and billion dollar banking giants screwing the financial system into the ground.

When it all goes wrong, it’s not the already-wealthy who really suffer. It’s the average person on the street. And it’s that average person on the street that bitcoin and cryptocurrency can help to avoid financial disaster when the existing system fails them eventually again.

Living on bitcoin

However, for all the potential of operating independently from the existing financial system, there’s a problem. How can you actually use crypto to operate in the real world?

How can you use crypto to buy goods and services today? Well, some people think it’s impossible. I say it’s not.

And I’m going to prove it.

I’m working on a little project that I hope to unveil very soon. The project is something I’m independently doing, to prove a point.

I’m going to live off bitcoin and crypto for a month. That’s right, I’m going to (try) and buck the existing financial system completely. I’ll document and record how I get on. And I’m going to release my journey exclusively to subscribers of my market-leading crypto investment advisory service, Sam Volkering’s Secret Crypto Network.

If you want to see how I end up then you’ll need to subscribe. You can do so here.

Truth is. it might not go all that smoothly. But I know that it’s possible. I know this because there are ways to use crypto now through innovative bitcoin and crypto companies. I’ve already placed an order for a BitPay Visa debit card.

This will be my bridge between crypto and the real world, for now. Longer term I plan to use TenX or other blockchain based services to buy things with crypto. But what it all means is that I’m going to show you just how you can get your hands on crypto, and then use it in the real world.

If you can do that, if you can see it’s possible, then maybe you’ll understand the revolution that’s underway.

Regards,

Sam Volkering,
Editor, Secret Crypto Network


Sam Volkering is an Editor for Money Morning and is small-cap, cryptocurrency and technology expert. He’s not interested in boring blue chip stocks. He’s after explosive investments; companies whose shares trade for cents on the dollar, cryptocurrencies that can deliver life-changing returns. He looks for the ‘edge of the bell curve’ opportunities that are often shunned by those in the financial services industry. If you’d like to learn about the specific investments Sam is recommending in either small-cap stocks or cryptocurrencies, take a 30-day trial of his small-cap investment advisory Australian Small-Cap Investigator here, or a 30-day trial of his industry leading cryptocurrency service, Sam Volkering’s Secret Crypto Network here. But that’s not where Sam’s talents end. Sam specialises in finding new, cutting edge tech and translating that research into how the future will look — and where the opportunities lie. It’s his job to trawl the world to find, analyse, research and recommend investments in the world’s most revolutionary companies. He recommends the best ones he finds in his premium investment service, Revolutionary Tech Investor. Sam goes to the lengths of the globe and works 24/7 to get these opportunities to you before the mainstream catches on. Click here to take a 30-day no-obligation trial of Revolutionary Tech Investor today. Websites and financial e-letters Sam writes for:


Leave a Reply

Your email address will not be published. Required fields are marked *

Money Morning Australia