This is an opinion editorial by Heather Everdeen, a mother, bitcoiner and lifelong learner.
Dear friends and family,
What I want you to understand about FTX is that these are fiat issues, not bitcoin issues. Bitcoin is unaffected outside of its fiat exchange rate. The bitcoin price is impacted due to all the pressure on these exchanges and funds to sell their assets. Bitcoin is one of the most liquid assets there is; it is easy to sell immediately when needed. There is always a new block approximately every 10 minutes. Bitcoin continues to operate, unaffected.
FTX was about money, money laundering (?), power, corruption, trying to get US regulation that only benefits those closest to the money printer. All the while, ordinary people were looking for emptier fiat gains.
We can’t create a better world until we stop looking for dollar gains and start saving and planning for our future instead. I don’t know about you, but I want to build a better world to leave my children and grandchildren in the future. I disagree with leaving them like that.
All these exchanges are house of cards. Many more will collapse. Although there are more cryptocurrency exchanges, I’m really talking about all things fiat: banks and hedge funds, pensions, 401(k) plans, fiat companies, etc. I don’t have a crystal ball, but I have seen the future. If I trust this vision, bitcoin wins. I believe him. We will see.
I’ve also spent the last five years and thousands of hours — probably over 10,000 hours now – studying money, the financial system, commerce, currencies, the Federal Reserve, central banking, cryptocurrency, bitcoin, and better economics than what we learn in school – Keynes was horrible.
Although it can be annoying, I talk about it so much because I see what’s going on and I want to help my friends and family. Our money and our financial system were designed to be deliberately complex and confusing. They don’t want people to understand it, because if they did, they would revolt. That’s why the little guy gets ripped off all the time. It was designed that way.
This monetary system is not sustainable and will fail. We will see it happen in our lifetime. This is happening right now.
There is another way: buy, hold and use your own bitcoin. Be your own bank. No middlemen, just you and your own money. Use the system that was designed to liberate people and not the one designed to enslave people. My “vote” is with my money. I vote to get rid of these fiat chains and low vibration systems and be a free and sovereign being. I use bitcoins.
You should too.
This is a guest post by Heather Everdeen. The opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.