bram on Nostr: 🚨 This is my coming out as a #bitcoin evangelist! ⚡️ After 10 years of ...

🚨 This is my coming out as a #bitcoin evangelist! ⚡️

After 10 years of studying Bitcoin, I wrote a short essay that is my attempt at getting people started on their Bitcoin journey. It takes less than 5 minutes to read ⤵

You have probably heard about Bitcoin. But why should you actually spend time understanding it?

To me, Bitcoin is not just another type of currency, it's a revolutionary form of "money energy" that transforms the way we think about and use money.

I encourage you to read on, share your thoughts, and feel free to share it with others if you find it useful.

Here we go ⬇️

Imagine this: you work (at a job or your venture), putting in the physical and mental energy needed to produce results. In return, you receive what we call “monetary energy”—your salary or profit💰

This, what we call “money”, can be used to purchase goods or services that also require energy to create and maintain. Essentially, money is a claim on energy. From the past - putting in your work energy - to the present - exchanging it for the product of someone else’s work energy.

However, the value of your money gradually decreases due to the printing of new money by Central Banks.

These centralized powers add new money energy to the system we use to exchange energy with each other.

Due to this, the total energy in this system gets inflated. Meaning you can now buy less with the same amount of money energy you own.

This newly added money energy was NOT earned by “putting in the work energy”.

But it’s worth the same as the money energy that you did put in work for.

How does that sound to you?

This is called the FIAT MONEY SYSTEM. And you are part of it. Actually, you are stuck in it.

It is a system from which you can not escape, but where baseless new energy is added by design, making the energy that you put in worth less and less over time, infinitely ♾

But wait! There is actually ONE escape possibility 🛟
It is called Bitcoin. A once in a lifetime invention that took 40 years of discoveries and experiments before it became a reality in 2009.

Visualize Bitcoin as a giant cube filled with energy. Energy that is counted in a unit of 1 (a Bitcoin or BTC), but which can be divided by 100.000.000 into tiny parts known as "Sats".

One sat represents 0.00000001 BTC, or 1 one-hundred-millionth of a bitcoin.

This is DIGITAL ENERGY MONEY that can be exchanged between all the single parts (users) that make up the giant cube. This is the Bitcoin Network.

This network, unlike the fiat money system, is decentralized and follows predetermined rules that are transparent to everyone. Anyone can join and stay as long as they play by these rules.

Because this DIGITAL ENERGY MONEY SYSTEM is decentralized, its rules can not be changed by any central power. Unlike what the Central Banks do in the fiat money system.

How the rules work out is already known.
The total supply of Bitcoin will only ever be 21.000.000 Bitcoin, and the amount of Bitcoin added to the network each year—known as block rewards—follows a predictable and public schedule that ends in 2140.

When all of the 21.000.000 Bitcoin Monetary Energy Units will have been created and added to the network (Mined), the energy in the network will become deflationary.

This will increase the value of the energy in the network as there is NO NEW ENERGY ADDED, but the amount of network users keeps growing.

It grows because it is the most transparent and secure (monetary) VALUE EXCHANGE NETWORK TECHNOLOGY ever built. It is engineered to be permissionless and borderless. It also has no religious affiliation and no political preference. It is therefore for everyone to use equally, by design.

IT PAYS ITS DUES IN PUBLIC by utilizing the ultimate mechanism to verify that ACTUAL WORK WAS DONE (Work Energy Input) to create the Money Energy that is being exchanged in the system.

This is called Proof-Of-Work.

ALL THE ENERGY IN THE SYSTEM WAS EQUALLY CREATED AND IS THEREFORE WORTH THE EXACT SAME.

ALL THE TIME.

Proof-Of-Work is powered by computers. They follow the set of coded rules and schedule to add new Bitcoins to the network while they secure the network at the same time.

These computers run on electricity. This is the Work Energy Input of the system.

Miners are incentivized to find the cheapest available energy so they can optimize their activities. In practice, this means using waste(d) energy. Energy that was produced but not used, and usually discarded.

Think about the excess capacity of solar and wind farms, hydropower plants, and even methane gas that is released by oil rigs. This infinite waste energy is captured and turned into a limited edition of digital energy money units.

Like turning dust into diamonds 💎

This is the incentive to innovate and optimize the network forever.

Within this system that is powered and secured by energy, anyone can exchange these energy units with whoever they want. Instantly, with zero friction, at an extremely low cost.

To illustrate, imagine moving $100M worth of anything for less than $2! I’ll Wait...

Every transaction in the network is documented and public to anyone.

This ledger of transactions is auditable 24/7/365. By anyone. No fake transactions. EVER.

This is something your Central Bank can’t (and won’t) ever do.

This is your alternative to the Baseless Fiat Monetary System.

Which sounds more appealing? In which system do you feel more empowered?

To shift from the Fiat Money System to the Digital Energy Money System (Bitcoin), simply move your monetary energy - your $/€/etc) - from the former to the latter.

See, you don’t buy Bitcoin, you SELL your fiat money and move what you already own into a provably better system.

Then, trust that the choice for a more transparent, secure, equal, open, fair, decentralized, energy-based digital money network is the right choice. For all of us.

Let’s escape together? 🛟🟠