The health and financial crisis of 2020 has highlighted the position of bitcoins and digital currencies better than ever. 

Investment , Tim Denning, author of economic publications such as Business Insider and CNBC, was one of the first Bitcoin investors.

he in an article Reviewing his story of investing in Bitcoin, he explains how investing in this online money, along with gaining enough knowledge about the world of digital currencies, can bring incredible returns, eliminating the need to even work for the rest of your life.

Denning examines the impact of bitcoin versus the impact of banknotes that are printed illegally and do nothing but increase poverty and InflationDo not have. Read more from the Denning team.

I made a huge investment several years ago, an investment that I took seriously and put in a lot of research. What made this investment difficult was the taboo nature of it, which was linked to my choice to invest.

At the time, buying any kind of online money was considered an unnecessary, stupid and careless bet. Of course, my focus was not on investing, but on the problem that this new technology was going to solve.

In those years, sending money over the Internet was not easy. When I had to pay my friends in other countries, I had no choice but to go through a tedious and long process.

The Internet made everything easy, except for the financial world in which I worked.

Fossilized organizations with traditional systems of the 1980s used old programs to send money around the world. I thought to myself, there must be a better way.

Like most people, I was a victim of the 2008 financial crisis. I lost almost everything in a few weeks. As an unemployed 20-year-old who only had a driver’s license, I had no idea about the financial tsunami that year that quickly engulfed and destroyed everything. The government provided financial incentive checks; I remember receiving $ 900 for free and feeling like I was missing a job.

I took the money and spent it (or saved it like a good boy; Then I do not remember exactly). This event in human history has taught me to question financial markets and money. A friend who guided me encouraged me to read books written by investment myths such as Warren Buffett.

And I found that investing is a very mental game.

Around the same time, somewhere in the world, a person named Satoshi was coding. His small project was not a new invention. He used cryptography, which had been used many times before, and Internet money did not seem to be a new concept. Everyone was trying to make digital money. Which company is profitable and does not want to have its own money?

But Satoshi did not do this for profit.

Satoshi invented China blockchain technology and the clue to his dream The first blockIt was hidden that was extracted with this technology. In the first blockPosted have been:

[Headline] Times, January 3, 2009: The Treasury Secretary plans to provide financial assistance to banks for the second time. 

The front page of the Times quoted by Satoshi in the Genesis block.

Satoshi undoubtedly realized the main problem. Unlike most of the world’s population, he was idealistic enough to solve this problem. Financial aid to banks had angered Satoshi. but why?

Financial aid was the printing of money. Improper printing of money by governments saves companies that should go bankrupt with financial incentives and irresponsible economic policies. Money that is printed without support first goes to the rich, while the weaker class are left useless.

Money printing has always created inequality among human beings. “It creates a sense of frustration with inequality.”Occupy Wall Street MovementLed in 2011. The Americans were the first to protest. They had a large number of investment banks that saw the financial markets as their casino.

Unfortunately, their protest did not go anywhere. Banks were saved with financial aid, as this was the only option available.

At the same time, Satoshi’s blockchain continued to work behind closed doors. A handful of people, known as Cypherpunks, tried the currency that Satoshi had created for its Internet. It was a fun test, but no one thought this digital currency would have a good future.

Several years later, I became acquainted with Satoshi’s masterpiece. It was a great idea, but it seemed impossible for governments to give such an invention a chance to succeed. However, Satoshi was two steps ahead. He hid his identity and made the Chinese bloc unstoppable.

Stopping his masterpiece meant shutting down the entire Internet.

Governments tried to ban Satoshi’s invention. China was the first country. They thought they had succeeded. However, Chinese citizens decided to take digital currency transactions out of the market and exchange their digital assets in person in a public place or secure office.

The dream and goal of Satoshi and his followers was to make money without borders. Remember everything you need to use this digital currencyPasswordIt was 12 words. This digital currency while allowing people to travel with their money anywhere in the world, had a different function than cash and gold. You can not easily get in and out of the airport with cash or gold without questioning the officers and the judiciary. There are restrictions on cash and gold.

But Satoshi’s invention had no limits. His point of view was incomprehensible to the short-sighted.

People who welcomed Satoshi’s invention let greed get the better of him. Satoshi understood the sense of greed, which led to the 2008 financial crisis.

Satoshi also planned for greed. Several of his colleagues tried to change the code that Satoshi had created; Changing China Block Rules; A process known as fork. Satoshi introduced the concept of consensus into his financial system, meaning that in order for change to take place, the consent of members of society had to be obtained. He knew that if people understood what he really made, they would never agree to change it.

The “fork experiment” failed to change Satoshi’s code several times and showed that the force of greed was much weaker than the power of Satoshi’s code.

I was immediately fascinated by the idea of ​​what he had made. Although I had doubts about the durability of this technology at the time, I started investing in it. The more I studied it, the more I realized: This technology was the third version of the Internet (Web 3.0).

Previously, Internet ownership was a problem. Satoshi technology was a bold move to transfer power to Internet users. The question was simple:

What if users own the network? What if the users involved in building and maintaining the network received all the rewards, not just a few individual owners of commercial empires?

It took me a while to realize. Internet money is a masterpiece. Changing the way people are paid, traded, and owned what they do was a concept that could change the world. Money controls society. As money changes, so does society. I was extremely fascinated by this revolutionary idea.

The year 2017 has arrived. Internet money bubble burst. Even the person in charge of the college lunch was talking about what Satoshi had created.Tulip bubbleIt had started. Satoshi’s invention was still a child who was not prepared to be equal to an adult.

The price of Satoshi’s dream fell. Everyone considered my investment to be pure stupidity. For two years I blamed people who called me a fool, especially because I worked in a bank and had to have a better view of investing.

Ignoring was a blessing. I ignored everyone’s advice. They did not have the authority to comment. They did not knowWhat is Bitcoin?. I spend many hours learning topics likeExtractionI rewarded blocks, competitors, and new types of emerging networks. I was involved in informal circles and heard the story of businesses that have embraced this strange kind of Internet money. Then I also tried ATMs that allow people to buy and sell this money online.

However, people still considered me a loser who had not learned a lesson. The insults were annoying. The critics were real, and for a short time, they were right.

In 2020, the problem that Satoshi sought to solve finally came to fruition. As he predicted, bank interest rates fell to zero. An unforeseen health crisis caused financial markets to collapse. Returns on assets such as bonds fell sharply and even reached negative returns in some countries.

People who saved their property suffered the most. Profit payable to bank accounts was virtually zero. People who may have never invested in financial assets are now facing a serious problem.

The main question of 2020 was: Where should I invest my money?  

According to Satoshi, governments printed trillions of dollars as the world plunged into the crisis of the Corona virus. In 2008, the US government printed $ 1.3 trillion, and in 2020, the country withprint$ 3 trillion still needed trillions of dollars more. But there was no inflation.

Despite the Unemployment Unprecedented, fall GDP In all countries of the world, uncontrollable health crisis and To deny Oil prices pushed much of the surplus money out of stock markets, pushing stock prices higher.

Instead of measuring inflation the old-fashioned way (through the consumer price index), the CEOs of public technology companies offered to evaluate inflation with respect to stock prices.

And I noticed the flow. When you have too much money, you do not buy hundreds of thousands of dollars in pizza, and inflation does not include the pizza shop, but you go to buy stocks or real estate. For this reason, despite the sharp economic downturn, stock prices had soared.

2020 was the year that Internet money changed forever. Companiesپی‌‌پلPayPal and Square entered the space, and Visa became eager. JP Morgan Your CommentChangedAnd acknowledged that digital currencies are an important group of assets. Fidelity Investments invested about $ 3 trillion in the field. Citibank makes unexpected and bold predictions about Bitcoinpresented, Such as “Each Quinn unit will be worth $ 300,000 by the end of 2021.” CEO of Black Rock, the world’s largest capital management company,Stated That bitcoin has come to stay.

Well-known investors like Paul Tudor Jones, Stan Druckenmiller and Jim Cramer all decided to invest in this online money.

Raoul Pal, the former CEO of Goldman Sachs Bank, entered the Internet money market with all his capital (98% of his available cash).

I’ve only made one good investment in my life: Bitcoin Investment 

Various people keep telling me that this is a stupid decision, I get harsh and insulting internet comments and Twitter users call me stupid.

However, every day after work, I include 1 to 2 hours of daily reading in my schedule to better understand Web 3.0; Web 3.0 is where Bitcoin will store value and Atrium is the layer on which everything from applications to networks are built.

I spend a lot of time studying people who have very different opinions from mine. I have little knowledge of the Chinese blockchain space and I do not know everything. Anything can change. Newer technologies may be created.

Bitcoin is like anything else in life; You need to take the time and learn about what Bitcoin has solved and how it should be evaluated.

I started buying bitcoin in the early years of my life. The first coin I received was worth $ 100, and now the same coin is worth more than $ 30,000. My initial investment in Bitcoin has grown by 30,000%.

Over the past decade, Bitcoin has had the best performance among assets, growing by about 330% in 2020 alone. Researching finance and the future of money is worth the effort.

Bitcoin and Atrium have just started, because now more than ever we need real money, which is run more by code than greedy people. At present, digital currencies are clearly widely accepted and are still in their infancy.

If you take the time to consider the options available, make a good investment, and then defend your decision in front of critics, you will probably close your burden, and if you wish, you can avoid doing any ordinary job for the rest of your life.

Financial knowledge about Web 3.0 will be of great benefit to you.