Why Bitcoin will inevitably succeed.

First off, I want to preface this by saying I don’t know absolute shit about fuck. But I wanted to express my thoughts based on my experiences and what I see going on around me. Maybe I’m biased because of my environment, but this is an opinion of many people around me.

Early 30’s, Canadian, middle/upper class, double income.

For those of you who aren’t Canadian and aren’t aware of what’s going on in this particular country, we have a severe housing crisis and inflation problem (we are seeing bad food inflation). If you were born pretty much anytime after the late 1980’s, you’ve been priced out of ever owning a home in areas where jobs pay a half decent wage. Sure, we have provinces where it reaches -60 in the winters and homes used to be somewhat affordable, but those days have slowly been disappearing. We are seeing housing inflation happening there too.

The only way to afford a house anymore is to receive help from family (ie. generational wealth) or to be double income (both partners making at least 100k + per year) with no kids.

I know owning a home isn’t the end all be all, but you need to understand the lack of security that comes from being a perpetual renter here. Our tenant laws are brutal, tenants can be displaced at virtually anytime with little to no recourse and rents are ridiculously high. This lack of security prevents a lot of renters (especially in the millennial cohort and younger) from having children. Homelessness is a death sentence here with how cold our winters get. Older people do not care because they have enjoyed the price appreciation of their homes and feel like geniuses for buying in the first place, not realizing it’s the currency that’s been devalued and robbed their children’s futures. They constantly tell young people that “it’s far worse in other places around the world you should be grateful”.

Moreover, if you are double income and can afford a house, you can’t afford children because childcare is ridiculously expensive. Unless of course you are lucky enough to have family nearby that can help.

I try my best not to be biased and view the world through as many lenses as possible, but it seems like almost all young people I talk to feel hopeless about their futures, and have come to the sobering realization they may never have children. Not that they can’t, but why would they bring a life into this world when their future prospects seem so bleak? Renters are typically forced to move every couple of years.

On top of this, we are seeing our food prices skyrocket. The bank of Canada and our government are playing tug of war, BOC tells us interest rates will continue to rise until we see unemployment increase, while our government simultaneously tells us they will continue importing hundreds of thousands of people every year to fill the lower level jobs that do not pay a livable wage and keep demand for housing rentals high. It’s absolute madness.

When you start to question why all of this is happening, it brings you down the fiat rabbit hole. I’m sure many of you are here because you went down this same rabbit hole, and anyone who begins to research money will inevitably be lead to Bitcoin. I was never into Bitcoin in the early days, the last bull market it’s all I heard about but I never became interested (I was too caught up in the real estate frenzy); however, after seeing the devastation that inflation has caused I really began self educating and stumbled across Bitcoin technology.

It’s revolutionary.

I am not the most teksavvy person but when you begin to question “why?” For the things happening around you, and then you look at the fundamentals behind Bitcoin - it’s absolutely brilliant. The hardest form of money ever created- I’ve never had so much conviction for an asset in my life. I can’t say whether it will end up succeeding, but it becomes more obvious as things become worse throughout societies that people will become desperate enough to seek alternative ways to store wealth. Seeing Bitcoin rally in this bear market when every other asset is getting destroyed will bring more and more attention to the space. Mainstream media is constantly trying to tie Bitcoin in with “scams” or illegal activity - but that will not stop it.

Older people are hopeless for now in my opinion when it comes to adoption, they are far too comfortable to even consider learning about the technology. But younger people, they won’t have a choice.

I don’t know how long it will take, but I can’t foresee things improving in our economies in the near term. As more time passes, I truly believe greater urgency to not be left behind will open many people’s eyes to what Bitcoin truly is and the solutions it offers in a system that fails so many.

Just my 2 sats (cents)