BoE Warns Bitcoin Could Become “Worthless” – It’s True, and That’s Why Bitcoin Is So Valuable
BoE Warns Bitcoin Could Become “Worthless” – It’s True, and That’s Why Bitcoin Is So ValuableNo one forces you to believe that Bitcoin has value. You choose to believe that Bitcoin has value.Written by Sylvain Saurel - In Bitcoin We Trust Reading the economic news in the UK over the last few days, I've seen several rather startling statements from the people at the top of the system there. It started with the BoE (Bank of England) stating that Bitcoin is a danger to the global monetary and financial system. I appreciated that the BoE finally understands the reason for Bitcoin in late 2021 when Bitcoin will soon celebrate its 13th year of existence. It's no secret that Bitcoin aims to replace the current monetary and financial system, or at the very least, represent a credible alternative for all those who want to regain power over the fruits of their labor. As such, Bitcoin is a threat to the current system, which is unfair and has not served the interests of the people for a very long time. Secondly, some members of parliament in the UK have made an incredible discovery: “Bitcoin is not an investment”. Again, I appreciate that these parliamentarians agree with me on this point. As I keep explaining to you, Bitcoin is not an investment. Bitcoin is all about power. When you buy Bitcoin, you are opting for a different system. A system that puts users at the center of the game. So Bitcoin is more than an investment, it's a major paradigm shift that allows you to live your life on your terms. I feel that the powers that be in the UK are waking up to the realities of Bitcoin in December 2021... The Bank of England tells us that Bitcoin could become worthless, and it's true!I get this feeling even more because the Bank of England, via deputy governor Sir Jon Cunliffe, has just added another layer by stating this:
If you listen to the BoE, there is a risk that Bitcoin will become worthless. Here again, I can only agree with Jon Cunliffe. It comes back to the theory of the subjective conception of value. Bitcoin is valuable to more than 130 million users now, but they could all decide at the same time in the next few hours that Bitcoin is worthless. If they all sold, panic would set in, and the price of Bitcoin would drop to zero. I have to admit that I would take the opportunity to accumulate more, so it would not reach zero. Other Bitcoiners would also do the same thing. That said, Bitcoin may well go to zero. There is no obligation. And that's what makes Bitcoin so valuable! Fiat currencies are valuable simply because the government tells you so. For Bitcoin, it's different.Fiat currencies are only valuable because your governments impose their value on you. Your governments force you to use the U.S. dollar, the Euro, or the British pound. You have no choice. The value of these fiat currencies does not come from the actual trust of the people in them, but from the fact that you are forced to use them. With Bitcoin, it's different. If Bitcoin has reached the 130 million user mark, it is only because these people have decided to buy Bitcoin of their own free will. No one is forcing you to consider Bitcoin valuable. You make a choice. You choose Bitcoin because you think Bitcoin is valuable for at least 6 key reasons:
No one is forcing you to believe that Bitcoin has value, but you are choosing to believe it. That's why Bitcoin will never be worthless.No one is forcing you to believe that. You make up your mind about Bitcoin by constantly learning more about this revolutionary system. As you learn more, you become convinced that Bitcoin will change the world of the future for the better. So you decide to buy Bitcoin and become a Bitcoin HODLer no matter what. In the process, there is no obligation. At any time, you can change your mind. It's your choice and yours alone! So Bitcoin can be worthless if people lose faith in it. And it is precisely this unique freedom of choice that Bitcoin gives you that will make more and more people come to embrace this revolution, and Bitcoin will never be worthless. In Bitcoin We TrustLearn how to earn…Become part of our community.Follow our socials.Subscribe to our podcast.Subscribe to this publication.
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