• Bitcoin Frees You From a Banking System That Is Totally Anachronistic

    Bitcoin Frees You From a Banking System That Is Totally Anachronistic
    Credits: Sylvain Saurel

    Bitcoin removes unnecessary middlemen.

    Technological progress is leading to a digitalisation of the world in all areas. This digitalisation of the world is gradually leading to the elimination of all intermediaries in many areas. I am talking here about all the trusted third parties that are added to exchanges between people and who come to guarantee that the conditions of a exchange are respected.

    Of course, middlemen do not work for free. The more middlemen you have in an exchange between two people, the higher the fees will be.

    In the world of supply chain, this is called disintermediation. If I take the example of farmers, we are seeing more and more fruit and vegetable producers seeking to sell directly to their customers in order to prevent third parties from entering the distribution chain.

    These third parties do not add value, but they are prohibitively expensive.

    Thanks to digitalisation, producers are increasingly able to reach their customers directly. Customers also benefit from lower prices they. It’s a win-win situation.

    At the level of the banking world, the problem of intermediaries is also omnipresent. I will go even further, since I sincerely believe that the current banking system is totally anachronistic.

    I’ll give you a telling example.

    Let’s take the example of a cross-border transaction with the current banking system

    Adam who lives in the United States has a bank account with $100,000 which he has managed to save by working hard. Nathan, one of his friends lives in Australia. For some private reason, Nathan needs $20,000 very quickly.

    Nathan asked his friend Adam if he could lend him the money.

    Adam has every right to lend Nathan $20,000, since he has $100,000 in his bank account. That money is his. He should be able to enjoy it as he wishes.

    So Adam goes to his bank’s website, and tries to make a $20,000 transaction to Nathan’s Australian bank.

    First failure.

    His bank’s online site tells him that he cannot transfer such an amount over the Internet. Since it’s the weekend, Adam’s gonna have to wait until his bank branch opens. Nathan, that absolutely needs that $20,000, has to wait.

    Adam goes to his bank branch, and explains that he wants to make a bank transaction to Australia for $20,000. Since it’s his money, Adam thinks it won’t be a problem.

    Second mistake.

    Adam’s U.S. bank is asking him to explain the $20,000 transfer. When you think about it, it’s pretty amazing. Adam worked hard to earn that money, and now he can’t enjoy it the way he wants to.

    If Adam refuses to justify the reasons for the transfer, the bank may prohibit it, or even alert government authorities in the worst case scenario.

    The risks of censorship with the current banking system are omnipresent.

    Adam’s doing it. He explains that his friend Nathan needs the money for a specific reason. He has to reveal part of Nathan’s private life in order to be able to make his money transfer. There is a real problem of privacy.

    Finally, Adam managed to initiate his transaction to Nathan’s bank.

    So you think Adam did the hard part. Well no! The transaction hasn’t even come close to Nathan’s Australian bank yet. For an international transfer of this type, it will be necessary to use the SWIFT interbank payment network.

    This implies delays of 2 to 5 days at best. In terms of transaction fees, Adam will soon be disappointed too.

    The complete process of this simple $20,000 transaction between two friends is as follows:

    Credits: Sylvain Saurel

    As you can see, once the American bank has sent the bank transfer over the SWIFT network, the Australian bank will be contacted. Then the Australian bank can credit Nathan’s account.

    Since private banks are attached to the central banks of their respective countries, the Fed and the Reserve Bank of Australia will be able to audit the transactions carried out by the banks attached to them.

    Once Nathan’s account is credited, an acknowledgement of receipt goes the other way around. After a week, Adam was able to send the $20,000 to his friend Nathan in Australia.

    The current banking system is anachronistic and flawed

    Totally anachronistic, the current banking system highlights the limitations of such a centralized network. Transaction times are long and transaction fees high as each intermediary takes its fees.

    Finally, the privacy of individuals is not respected.

    In fact, you should have the right to use your money as you want without having to justify your reasons for spending $20,000. In the current banking system, you are deprived of this right.

    Bitcoin provides an extremely simple and effective answer to this major problem of the banking system.

    By creating Bitcoin, Satoshi Nakamoto wanted to address all the issues related to central banks in termes of monetary creation, but also in relation to private banks in which we cannot have total confidence:

    “Banks must be trusted to hold our money and transfer it electronically, but they lend it out in waves of credit bubbles with barely a fraction in reserve. We have to trust them with our privacy, trust them not to let identity thieves drain our accounts. Their massive overhead costs make micropayments impossible.”
     — Satoshi Nakamoto

    Now, let’s imagine the following with Bitcoin network.

    Bitcoin is the best solution for cross-border transfers

    Adam owns the equivalent of $20,000 in Bitcoin. So he decides to send this amount in Bitcoin from his wallet to Nathan’s wallet, who creates an address on the network for the occasion.

    In approximately 10 minutes, Nathan’s address on the Bitcoin network is credited with the amount of Bitcoin transferred by Adam.

    Even better, the transaction fees do not depend on the amount sent with Bitcoin. Whether you send $10, $20K, or $100 million, the transaction fees may be the same.

    Most of the time, transaction fees on the Bitcoin network are between $0.50 and $1.00. Recently, they soared to $6.00 in May 2020, but this never lasts very long:

    Year-to-date Bitcoin average transaction fees

    It is common for transactions of several tens of millions of dollars to be made over the Bitcoin network for transaction fees that remain below the one U.S. dollar.

    Given the capabilities of the Bitcoin network, the banking system clearly can’t fight it.

    Bitcoin frees you from the banking system by giving you the ability to bypass it completely:

    Credits: Sylvain Saurel

    The other obvious advantage of Bitcoin is that it has no leader.

    In fact, no one’s going to ask you why you’re making a Bitcoin transaction with Nathan. No one will require justification or your transaction will be censored.

    By making Bitcoin your own bank, you have at your disposal a fast, secure, low fees, and censorship-resistant tool.

    Your Bitcoins can never be confiscated as long as you take care to keep their private keys safe.

    With Bitcoin, you are in complete control. For this reason, Bitcoiners often say that Bitcoin gives power to the people.


    Bitcoin works in a much simpler way because it does not require any middlemen that will charge you transaction fees. With its decentralized network, you have the near guarantee that the Bitcoin network is always running.

    Bitcoin’s uptime of 99.98% since its inception is there to prove that.

    Regardless of the time of day, and the day of the week, you will be able to use the Bitcoin network to make transactions. Bitcoin is therefore in line with history: that of the digitalization of the world and a regaining of control by the people.

    As such, time is on Bitcoin’s side in the face of an outdated banking system that is flawed. Sooner or later, a majority of people will come to realize the superiority of Bitcoin.

    Under these conditions, Bitcoin’s adoption can only increase sharply in the coming years.

  • The Two Biggest Reasons Why Bitcoin Price Will Reach $1,000,000 Within 20 Years

    The Two Biggest Reasons Why Bitcoin Price Will Reach $1,000,000 Within 20 Years
    Image by Tom Bark — Pixabay

    The success of Bitcoin in the future is inevitable.

    Bitcoin is already a huge success. In just over eleven years of existence, Bitcoin has managed to attract something like 40 or 50 million users and achieve a market capitalization of $170 billion.

    This is all the more impressive given that Bitcoin has only had the support of its community during its first decade of existence.

    Bitcoin has not received the support of any government or private investment bank. Bitcoin’s success is in the hands of its users. By offering Bitcoin to its users as a great gift, Satoshi Nakamoto has given them responsibility for the future of Bitcoin.

    So far, its users have risen to the challenge brilliantly.

    The people who support Bitcoin are like missionaries acting with a passion to help build a better world for all in the future.

    Of course, the financial appeal is what brings a majority of new users to the world of Bitcoin. I won’t deny that. However, those who stay in the long run, and end up becoming Bitcoin HODLers, can only do so because they have total confidence in the Bitcoin revolution.

    For anyone interested in the world of Bitcoin today, a big question that comes up frequently is:

    How much one Bitcoin will be worth in U.S. dollar in the future? Can Bitcoin reach $100,000? $300,000? How about $1 million in the future?

    To this question, I’m going to give you my vision. The third Bitcoin Halving took place on May 11, 2020, and we are currently in a period of stagnation before the start of a strong bull market for Bitcoin.

    The supply of new Bitcoins is inexorably shrinking

    This post-Halving bull market will probably last 18 months. The peak of this bull market is expected to be reached at the end of 2021. At that time, I can very well imagine the Bitcoin price to be very close to $100,000.

    This already very impressive figure will only be a start in my opinion. If there is a probable correction afterward, as was the case with the previous Halvings, we should not forget that new Halvings will follow.

    Bitcoin’s monetary policy is automated, which means that it cannot be changed by a simple human decision.

    Thus, the fourth Bitcoin Halving will take place no matter what happens at block height 840,000. The fifth will take place at block height 1,050,000. And so on.

    Given the average issuance time between two blocks of transactions of about 10 minutes, we can estimate that the next Halvings will take place in 2024 and 2028.

    While the reward in Bitcoin is only 6.25 BTC in 2020, it will fall to 3.125 BTC in 2024 and then to 1.5625 BTC in 2028. Inflation in the supply of new Bitcoin will continue to decrease in the coming years. It fell to 1.8% after Bitcoin’s third Halving. It will then be below 1% in 2024.

    Based on an average of 144 blocks issued each day on the Bitcoin Blockchain, there will only be 450 new Bitcoins produced each day from 2024 onwards. In 2028, this figure will fall to 225 new Bitcoin issued a day.

    The irremediable fall towards zero of the daily supply of new Bitcoins will be confronted with the second parameter of the law of supply and demand which governs the Bitcoin price:

    Illustration by Sylvain Saurel

    This second parameter is of course the demand for Bitcoin.

    Buying Bitcoin becomes mandatory to hedge against the great monetary inflation

    Currently, the number of Bitcoin users represents only 0.4% of the world population. This is very little, but it is normal since Bitcoin is still at an early stage.

    The economic crisis of 2020 has highlighted more than ever the flaws of the current monetary and financial system.

    The trillions of dollars printed out of thin air by the Fed and other central banks, as well as the trillions of dollars borrowed by all governments to finance stimulus packages, have made a growing number of people feel that fiat money no longer has any value.

    The great monetary inflation induced by these easy-money monetary policies is making the rich even richer, while the poor are more than ever in trouble. Income inequality between the richest 1% and the poorest 50% has never been so high.

    To hedge against the effects of this inflation, you don’t have much choice if you are not among the richest 1%.

    Gold is inaccessible, as is the real estate market. The stock market is manipulated by the Fed’s actions which makes it unattractive if you want to take care of your money future.

    The solution that more and more people will adopt is Bitcoin.

    The greatest value of Bitcoin today is that it offers its users a great weapon to preserve their wealth. This weapon is all the more powerful because it is resistant to censorship.

    In a world where hyperinflation will become an increasingly pervasive problem even within Western countries, Bitcoin will see its demand increase. It is inevitable. The growing number of institutional investors coming to buy Bitcoin is the first signal of this.

    The anti-Bitcoin bubble is about to burst.

    The potential for growth in demand for Bitcoin is exponential

    As soon as this bubble burst, the adoption of Bitcoin will accelerate even faster. This will happen over the next 20 years.

    To give you an idea of what this could mean, in 1998, only 0.4% of the world’s inhabitants had the Internet. By 2020, that figure is over 60%. In just 20 years, the number of Internet users has exploded.

    The reason is simple: the Internet makes people’s lives better. Some people may have explained that the Internet was too complicated, but in the end, users embraced the Internet because it made their lives better.

    With Bitcoin, it will be the same, because Bitcoin makes life better for its users.

    Such an explosion in demand for Bitcoin over the next 20 years, coupled with the inevitable drop in inflation in the supply of new Bitcoins, will provide the impetus for the Bitcoin price to reach the million-dollar mark.

    The devaluation of the U.S. dollar will play an important role as well

    In addition to this first major reason why the Bitcoin price will reach $1 million in the future is a reason that many seem to overlook.

    Since 2000, the value of the U.S. dollar, which is the world’s reserve currency, has been falling steadily. A buying power of $100 in 2000 is only $65 in 2020, a 35% drop in only 20 years:

    Since the beginning of the current economic crisis, the Fed has just printed more than $3 trillion out of thin air. The M2 Money Stock now exceeds $18,400 billion. At the current rate, the Fed is expected to increase it to $20 trillion by the end of 2020.

    Such a large printing of the U.S. dollar in such a short period of time will accentuate the devaluation of the U.S. dollar.

    A $100,000 Bitcoin at the end of 2021 will probably be the equivalent of a $1 million Bitcoin in 20 years.

    Thus, the coming sharp currency devaluation of the U.S. dollar, and all other fiat currencies, will strengthen the assumption of a $1 million Bitcoin.


    Based on this, you don’t have much to do to become rich in 20 years.

    Your best chance is probably to accumulate as many Bitcoins as you can in the coming months and years and then become a Bitcoin HODLer to keep your Bitcoins no matter what.

    That way, you will have become a millionaire in U.S. dollar thanks to Bitcoin. As far as the Bitcoin world is concerned, you will become one very quickly by following this strategy.

    Indeed, owning at least 0.01 BTC is the same as owning 1 million Satoshis. In the world of the future, the basic unit for Bitcoin will probably be Satoshi.

    At that time, owning 0.01 BTC will make you a millionaire. As you can see, time will play in your favor if you choose to opt for Bitcoin.

  • Why You Shouldn’t Blindly Follow Advice From Bitcoin Gurus — Including Mine

    Why You Shouldn’t Blindly Follow Advice From Bitcoin Gurus — Including Mine

    You don’t have to buy Bitcoin because I’m telling you it’s a revolution.

    Image: Martin Möller / Pixabay

    Bitcoin is something that changes lives. In any case, Bitcoin has changed my life and the lives of many other Bitcoiners. After realizing that Bitcoin was a true revolution that would change the world of the future, I decided to share with others by regularly writing articles about Bitcoin, money, and the economy in general.

    My devouring passion for Bitcoin has become such that I now write at least one article a day.

    If you’ve been reading me for some time now, you’ve figured out that I am a Bitcoiner. I have a deep conviction that Bitcoin will change the world of the future when it comes to money. Better yet, Bitcoin will change the world of the future for the better by giving everyone the same opportunities.

    Bitcoin is a true revolution that will change the world of the future

    Bitcoin does not suffer from the arbitrariness of humans, nor their penchant for corruption. With Bitcoin, everything is known in advance, and everything is automatic. The fact that the rules that govern Bitcoin’s monetary policy are written in its source code is a phenomenal guarantee for all its users.

    When you buy Bitcoin, you already know what to expect.

    It may seem anecdotal, but having the guarantee that there will never be more than 21 million Bitcoins in circulation and that the issuance of new Bitcoins will decrease over time according to a schedule known to everyone, is something essential.

    Bitcoin is predictable. It gives you guarantees in an uncertain world. It is often said that Bitcoin is a hedge against uncertainty. When you buy a Bitcoin in 2020, you know that you will still own one Bitcoin out of every 21 million existing in 2050.

    Since the Bitcoin price is set to rise considerably in the future, the value of your Bitcoins will increase and make you a very rich person. Bitcoin will therefore protect your wealth over time.

    The advantage is that no one will be able to confiscate your Bitcoins. As long as you have the private keys to your Bitcoins, no one can confiscate them from you. Since Bitcoin has no leader, no one can stop you from using your Bitcoins as you wish.

    Bitcoin belongs to all its users.

    Bitcoiners are not trying to convince you to buy Bitcoin

    After reading all this, you must think that I am trying to force you to buy Bitcoin. Some people even send me private messages telling me that my articles are interesting, but they are not convinced.

    They ask me questions and eventually tell me to prove to them that they should buy Bitcoin instead of gold or Tesla stock.

    My answer is always the same: I have no interest in you buying Bitcoin.

    I do not sell anything in my articles. If you buy Bitcoin, you will be doing the right thing for you, not for me. My choice has been made a long time ago, and I continue to apply a Dollar-Cost Averaging (DCA) buying strategy with Bitcoin regardless of the Bitcoin price.

    You don’t have to buy Bitcoin because I’m telling you it’s a revolution. You should not blindly follow the advice of the Bitcoin Gurus. I reassure you, I don’t see myself as a Bitcoin Guru. There are much more intelligent and inspiring people in the Bitcoin world than me.

    But the truth is the same: you shouldn’t buy Bitcoin because these people tell you that Bitcoin is a revolution.

    My goal is simply for you to open your eyes to the incredible potential of Bitcoin

    All the articles that I write, and that Bitcoin Gurus write, are only there to open your eyes. My goal is to make you aware of the flaws of the current monetary and financial system. Once you become aware of the flaws of this system, you will be able to discover why Bitcoin matters.

    Once you have discovered Bitcoin, and especially how it responds to the problems posed by the current system, it will be up to you to decide whether or not you want to take the plunge.

    If after reading my articles, you still haven’t opted for Bitcoin, it is not up to me privately to make you want to buy Bitcoin rather than gold or Tesla stock.

    If you think Tesla is the new Bitcoin, you should buy Tesla stock. If you think gold is a better store of value than Bitcoin, you should buy gold. Either way, I urge you to follow your instincts.

    You’re the only master on board no matter what happens

    In the end, it is always you who will pay with your money. Your decisions are binding on you, not on me or the Bitcoin Gurus.

    You should see my articles as a source of information to help you make decisions to take care of your money future. The economic crisis we are going through in 2020 has highlighted this more than ever: it is up to you, and you alone, to take care of your future in terms of money.

    Politicians, bankers, and economists who make fine speeches will not do it for you.

    You are the only master on board when it comes to whether or not to invest in an asset. If you make a mistake, you will not be able to blame others, because you will have made the decision.

    Likewise, there is no need to ask how much Bitcoin you need to buy. It’s up to you to know what you want for your future. I think the Bitcoin price may reach the million-dollar mark in 20 to 30 years. Owning 1 BTC in its entirety seems to me to be a no-brainer.

    Again, this is just my humble opinion.

    You must form your own opinion about Bitcoin, and act accordingly

    If you think that Bitcoin is not worth it and that gold is a safer investment, you should listen to your instincts. That’s the real secret in life.

    You have to act on your ideas and your interests. Everyone’s profile is different. Your profile is different from mine, and Bitcoiners. We can’t decide for you. Our mission, because it is indeed a mission for us, is to enlighten you on the fact that Bitcoin is a revolutionary system that will change the world of the future.

    We enlighten you, we share our ideas. Our goal is simply that you have all the cards in hand to make the best decisions for your future.

    If by any chance you decide to buy Bitcoin, it will ultimately be your choice. You would do it because you are deeply convinced but not because a Bitcoin Guru told you so. If you do so simply by following the advice of an expert, you are wrong.

    It would be a shame to buy Bitcoin this way without knowing what you are doing.

    In my opinion, it is even more dangerous to buy Bitcoin without understanding why you buy Bitcoin than not to buy Bitcoin at all. Why? Simply because at the first drop in the Bitcoin price, you might panic and sell all your Bitcoins at a loss.

    This behavior is frequently found in the Bitcoin world among those who do not have full confidence in its revolution. I don’t wish you to be a part of this, because people who experience this often find themselves disgusted with Bitcoin when it is simply a bad strategic approach that has led them down this wrong path.


    So take your time before entering the Bitcoin world. Make the effort to form your own opinion. Deepen your knowledge by reading extensively. The day you are ready, you will be. Then you will be able to follow your instincts about whether or not to buy Bitcoin.

    It’s bound to be the best decision for you because it will be yours.

  • Buy Bitcoin To Take Power, Not To Make Money

    Buy Bitcoin To Take Power, Not To Make Money

    Bitcoin is not a get-rich-quick scheme.

    Illustration by Sylvain Saurel

    The price of Bitcoin is now below $54K at the time of writing. This doesn’t shock you anymore, but now Bitcoin’s price is closer to $100K than it is to zero. All of the historical opponents of Bitcoin end up embracing the Bitcoin revolution one by one.

    More and more people are realizing (finally) that the Bitcoin Revolution is here to stay. Bitcoin is not a scam or the pointless entertainment of a few geeks. Bitcoin is a true monetary revolution that will change tomorrow’s world for the better.

    The record price achieved by Bitcoin is whetting the appetite of a growing number of people. This includes institutional investors, large companies, banks, and now more and more retail investors.

    Over the past few days, I have been receiving more and more messages from people wanting to know how to buy Bitcoin. The same people who didn’t believe in Bitcoin when its price was struggling to break through the $10K mark last year are suddenly discovering an interest in the king of digital currency.

    On Reddit or Quora, the questions of greedy people are multiplying:

    • How can I make a lot of money quickly with Bitcoin?
    • Is Bitcoin the best way to make money on the Internet?
    • Will the price of Bitcoin continue to rise forever?
    • Will the price of Bitcoin be X in Y years?

    I’ll stop there, but you too must have seen this type of question appear more and more often. As a long-time Bitcoiners now, I spend a significant portion of my time trying to educate as many people as possible about how Bitcoin works and what is the why of Bitcoin.

    My goal is simply to help as many people as possible understand why Bitcoin is a once-in-a-lifetime opportunity. My greatest reward as a Bitcoiner is to see that people that I have been able to help understand the value of Bitcoin end up becoming Bitcoiners themselves.

    When I see all these questions, I take the time to answer some of them by explaining the good and bad reasons for buying Bitcoin.

    If you buy Bitcoin just to get rich, I think you are on the wrong track. The majority of people who do this will never try to figure out why they buy Bitcoin. These people act only because of a FOMO (Fear Of Missing Out) feeling that is developing more and more. These people will not be convinced by the Bitcoin revolution. At the slightest sudden 30% drop in price, these people will sell their BTC in panic.

    This happened in 2018, and it will happen again sooner or later.

    Bitcoin is a NgU technology, but to take advantage of it, you need to have the patience to become a Bitcoin HODLer no matter what. This can only be done if you have total confidence in the Bitcoin revolution. This confidence can only be gained through learning.

    You must understand that Bitcoin is not about money. Bitcoin is about power. Bitcoin was created to give back to the people the power regarding money. It is not for nothing that I keep repeating that Bitcoin is the money of the people supported by the people. This is a pure truth.

    When you buy Bitcoin, you are voting for a fairer system. You are voting for a peaceful revolution that seeks to return money power to each and every one of its users.

    So Bitcoin is not the best way to make money on the Internet as some people believe. The greed of some people will end up costing them a lot of money. In the world of Bitcoin, your greed is your biggest enemy. If you want to make money on the Internet, create a startup or produce content that brings value to as many people as possible.

    With the money you earn on the Internet, you can then buy Bitcoin to protect the fruits of your labor from the ravages of monetary inflation in a way that is resistant to censorship.

    Bitcoin offers you three fundamental freedoms that allow you to live your life on your own terms: the freedom to receive BTC, the freedom to send BTC, and the freedom to HODL BTC. With Bitcoin, you are the only master on board as long as you own the private keys associated with your BTC.

    To achieve this level of sovereignty, you must avoid buying BTC via PayPal or banks. The latter will lock you back into a system similar to today’s system which is flawed and not fixable.

    So beware of those actors who seek to steal the Bitcoin revolution from the people. In order for the Bitcoin Revolution to continue to belong to the people, you must become a Bitcoin HODLer no matter what. Don’t give up your BTC at the slightest drop in price. Institutional players will be happy to buy them from you because they have a better long-term vision than weak hands that sell out of fear.

    Final Thoughts

    If you want to regain power over the fruits of your labor, you are absolutely right to buy Bitcoin. Bitcoin is the best savings technology in the world. The price of Bitcoin is constantly rising due to the weakness of fiat currencies. The most important thing for you is to accumulate as much BTC as possible to protect your wealth from the injustice of the current system.

    Once this power is regained, you will understand that only one number matters in the world of Bitcoin: the number of BTC you own.

    As long as you keep this in mind, you will be able to detach yourself from the daily charts of Bitcoin’s price evolution. You will continue to accumulate Bitcoin in DCA (Dollar-Cost Averaging) mode so that you can enjoy your future as you wish.

    This is the power that Bitcoin gives you. It’s up to you to use it wisely and not give in to greed.

  • Time Favors Bitcoin, and Its Superiority Will Be Obvious for Everyone Sooner or Later

    Time Favors Bitcoin, and Its Superiority Will Be Obvious for Everyone Sooner or Later
    Illustration by In Bitcoin We Trust

    It’s only a matter of time.

    The economic crisis that has been awaited for years is taking shape before our very eyes. The coronavirus will have been the trigger for an unavoidable event. Contrary to what Wall Street traders had hoped for, it was illusory to believe in the infinite growth of the financial markets.

    This infinite growth became all the more untenable because it was not based on anything tangible. Over the last ten years or so, it has been the policies of central banks and massive share buybacks by companies that have made it possible to sustain stock market prices.

    The value of companies was simply artificially inflated.

    The financial market collapse we are seeing is therefore quite logical. If it was triggered by the sharp acceleration in the spread of the coronavirus, this fall on Wall Street was not due to the coronavirus, as some people are trying to make you believe.

    Current System Is Based on Fragile Foundations

    The financial markets, and more broadly the entire monetary and financial system, rest on very fragile foundations. In an attempt to save this system at all costs, the Fed has just given yet another example of the fact that the U.S. dollar is not based on anything tangible.

    In just one month, this of March 2020, the Fed succeeded in lowering interest rates by 150 basis points to reach a target of zero, which has long been taboo in the past.

    Today, there is no longer any taboo for the Fed, which decided on March 23, 2020 to conduct an unlimited quantitative easing program. Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, even went so far as to boast that the Fed has an infinite amount of U.S. dollar at its disposal:

    “There is an infinite amount of cash in the Federal Reserve. We will do whatever we need to do to make sure there’s enough cash in the banking system.”
     — Neel Kashkari

    You understand that the banking system will be saved at all costs. Currently, it is estimated that this price will represent an injection of liquidity of at least $6T.

    Plan Bitcoin Becomes Inevitable

    Such an injection of liquidity into the fiat system makes the plan Bitcoin inevitable. Indeed, this massive injection of liquidity will cause a major monetary devaluation of the U.S. dollar.

    Better yet, the United States will once again export its inflation since other central banks will have no choice but to align themselves with these measures decided by the Fed. The Fed has announced this week that it will increase the U.S. dollar that it makes available to other central banks.

    All of this is already very worrying, but perhaps the worst is to be found in a news story that has gone almost unnoticed by the general public.

    At the same time as it announced its liquidity injections into the banking system, the Fed also announced that it was lowering the reserve requirement rate for U.S. banks to zero.

    This announcement has left many people stunned as they don’t really understand what it means. The current monetary and financial system is deliberately doing everything possible to prevent you from understanding these kinds of vitally important details.

    In this regard, I invite you to remember what Henry Ford said about people’s understanding of the monetary and financial system:

    “It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.”

    Henry Ford

    The powerful at the head of the system therefore keep you in the dark in order to avoid a real revolution.

    You Need to Look Beyond the Current Monetary and Financial System

    As a result, many people have no idea how money works, which tends to trap them into 5 thought patterns that bind them to the fiat system. The worst thing is that these patterns prevent them from buying Bitcoin and experimenting with an alternative.

    It is essential that you are able to break these thought patterns in order to free yourself from a system in which you have always been trapped. Nevertheless, this path can only be achieved through individual awareness.

    If you are already convinced of the importance of Bitcoin for the future of the world, you probably won’t be able to convince your family or friends if they are not ready.

    In reality, the decision to buy Bitcoin is an entirely personal one, and everyone has to come to the realization that they have to switch to an alternative to opting out of the current monetary and financial system.

    Without this awareness, you probably won’t be able to understand also that lowering the reserve requirement for banks to zero means that from now on they will be able to create as much money, or rather as much debt, as they want.

    Bitcoin Allows You to Become Your Own Bank

    The Fed is giving all the power to the U.S. banks, since the U.S. banks are generally controlled mainly on the reserve requirement rate that they have to keep.

    A reserve requirement rate to zero will support the U.S. economy in the first instance.

    Indeed, loans or mortgages will be granted to people who would not have been entitled to them previously.

    All this is not without risk for the custodians of money. From now on, when you see a balance of $10,000 on your bank account, it will not mean anything anymore. In fact, you will have no guarantee that you will be able to withdraw that money if you wish.

    You will not have that guarantee because the bank probably does not have that money.

    If everyone wanted to withdraw their money in cash at the same time, the bank would simply go bankrupt. To avoid this, you may fear that restrictions on withdrawals will be imposed in the near future if the situation becomes untenable.

    This has already happened in July 2015 in Greece in particular.

    To avoid this, you need to be far-sighted and start thinking about making Bitcoin your own bank.

    In the coming months, the economic crisis will make things difficult for everyone. That is a certainty.

    Bitcoin Is a New Solution to the Crisis That Awaits Us

    In the past, you had no alternative solution available to you. With Bitcoin, thanks to Satoshi Nakamoto, the situation is now different. You can make the individual choice to limit the risk that the fiat system poses to your wealth.

    Opponents of Bitcoin try to make you believe that Bitcoin is correlated to Wall Street or to gold, in order to explain to you that it is not a hedge that can protect you in the situation we are about to experience.

    Instead of listening to them uncritically, you should take a step back. Instead of looking just at March 2020, you can look at a period of one year to start with. If you have fun doing this little exercise, you will see the bigger picture for Bitcoin.

    The reality is that for the past year Bitcoin outperforms largely Wall Street, and even gold.

    Over a year, Bitcoin price has risen +35% compared to +25% for gold. At the level of Wall Street, the fall is very heavy with -20% for the Dow Jones, and -14% for the S&P 500.

    Wall Street’s very mild reaction to the Fed’s monetary stimulus, and to the announcements by the U.S. government, which will notably send a check for $1,200 to all U.S. citizens, even makes us fear the worst for the coming weeks.

    Nothing says that the market has already incorporated the bad news on the U.S. job market, which will continue to accumulate week after week.

    Nothing says that the market has already anticipated all the requests for bailouts that will be coming to the American authorities from companies that have spent the last ten years carrying out massive share buyback programs rather than saving cash in case of a hard blow.

    Time Favors Bitcoin

    Once again, the monetary and financial system is to blame for all these mistakes. It constantly pushes people to spend more and more, because the currency devaluation of the U.S. dollar, which never stops, takes away any interest in saving.

    Bitcoin is once again different in that it has a clear and fixed monetary policy.

    There will never be more than 21 million Bitcoins in circulation, and inflation of Bitcoin supply will automatically halve every 210,000 blocks to reach zero by 2140.

    As you can see, Bitcoin allows you to think long term because it gives you certainty in an increasingly uncertain world. Time favors Bitcoin, and people who choose the plan Bitcoin now will probably be greatly rewarded in the future.

    A future in which sooner or later, even the fiercest opponents of Bitcoin will have to face the obvious: an alternative to the current 49-year-old system must emerge.

    That alternative that offers us a chance for a better and fairer world in the future is simply Bitcoin.

  • Building A Bitcoin Sentiment Analyzer Based On Twitter In Java

    Building A Bitcoin Sentiment Analyzer Based On Twitter In Java

    Analyzing recent tweets can give a valuable indication of the general feeling around Bitcoin.

    Created in 2009, Bitcoin is still a fairly young project. Its market price is therefore naturally very volatile. In addition, Bitcoin is much more sensitive to mass effects such as the FOMO (Fear Of Missing Out) feeling that can capture the market as was the case at the end of 2017. Driven by a general euphoria, the Bitcoin price had reached its all-time high of $20,000.

    Being able to measure this type of sentiment around Bitcoin can give an excellent indication of what awaits the price of Bitcoin in the coming hours. A good solution is to analyze activity around Bitcoin on a social network such as Twitter. In this article, I will teach you how to create a Java program to analyze the general sentiment around Bitcoin from tweets retrieved on Twitter.

    Bitcoin Sentiment Analyzer Specifications

    The Bitcoin Sentiment Analyzer that you will learn to develop will perform the following actions during its execution:

    • Retrieving a sample of tweets on Twitter containing the keyword bitcoin
    • Analysis of tweets retrieved one by one to detect the general sentiment associated with them
    • Displaying the percentage of each of the following 5 sentiments for Bitcoin on Twitter: very negative, negative, neutral, positive, very positive

    The program will end after each execution and will not perform this analysis continuously due to the quotas imposed by Twitter with its free developer API.

    Creating The Java Project

    The first step will be to create a Java project. We will use Maven as a dependency manager. In terms of dependencies, we will have the following code libraries:

    • Twitter4J which is an unofficial Java client for the Twitter API
    • Stanford CoreNLP which is an open source library for natural language processing

    Twitter4J will allow us to retrieve a sample of tweets from Twitter in an easy way. The Stanford CoreNLP code library will allow us to detect the sentiment associated with each of the associated tweets.

    This gives us the following POM for our project:

    Creating A Twitter Application

    Using the Twitter API requires the creation of a developer account. It is free of charge but remains limited in use to a certain number of calls and some quotas are imposed. As part of our project, which is for educational purposes, this will be perfectly appropriate. The creation of the developer account necessary to use the Twitter API is done here: https://developer.twitter.com

    Once you have created this account, you will be taken to the next page:

    You will need to create a new application. I have chosen to call my application “Bitcoin_Sentiment_Analyzer”. During the creation of this application, you will have to fill in a certain amount of information about it. Finally, you will arrive on the “Keys and tokens” screen where you will find the information that will allow you to authenticate yourself correctly when calling the Twitter API to retrieve tweets related to Bitcoin:

    You will need your keys to connect to the Twitter API

    Retrieving The Tweets

    Now that the Twitter application associated with the Bitcoin Sentiment Analyzer is created, we will be able to move on to retrieving tweets within our program. To do this, we will rely on the Twitter4J code library.

    Twitter4J has as its entry point the TwitterFactory and Twitter classes.

    The TwitterFactory class takes as input a Configuration object instance that contains the connection information to the Twitter API:

    • Consumer API Key
    • Consumer API Secret Key
    • Access Token
    • Access Token Secret

    I will then retrieve an instance of a Twitter object instance from the TwitterFactory by calling its getInstance method. With this object, we will be able to launch queries on the Twitter API. We will use its search method to retrieve tweets matching certain criteria.

    A query is modeled within the Query object which takes as input a string corresponding to the query that you want to execute via the Twitter API. In the case of the Bitcoin Sentiment Analyzer, I want to retrieve tweets containing the keyword bitcoin while not being retweets, links, answers or images.

    This query is represented with the following string:

    bitcoin -filter:retweets -filter:links -filter:replies -filter:images

    The setCount method of the Query class allows you to define the number of results you want to retrieve. In the case of the free developer API, this number is limited to 100 results.

    Finally, it remains to execute this query by passing it from the search method of the Twitter object instance. A QueryResult object is returned on which it remains to call the getTweets method to retrieve a list of Status objects. Each Status object represents a tweet. It is finally possible to access its textual content via the getText method of the latter object.

    All this gives the following searchTweets method:

    Analyzing The General Sentiment Of A Tweet

    The next step is to analyze the general sentiment of a tweet. Many solutions in the cloud exist to analyze the general sentiment of a text. Google, Amazon or Microsoft offer solutions for example. However, there are also very good free and open-source solutions such as the Stanford CoreNLP code library.

    The Stanford CoreNLP code library perfectly meets our needs as part of our Bitcoin Sentiment Analyzer program.

    The StanfordCoreNLP class is the entry point to the API. We instantiated this object by passing as an input an instance of Properties in which we define the different annotators that will be used during the text analysis.

    I then call the process method of the StanfordCoreNLP object to start the text analysis. In return, I get an Annotation object on which I will iterate to get the associated CoreMap objects. For each of these objects, I retrieve a Tree object obtained by calling the get method with the SentimentAnnotatedTree class as input.

    Finally, it remains to call the static method getPredictedClass of the RNNCoreAnnotations class by passing this instance of Tree as an input. The return corresponds to the general sentiment of this piece of the analyzed text. The general sentiment of the text is calculated by keeping the sentiment of the longest part of the text.

    The general sentiment calculated for the text passed as input is expressed as an integer whose value can range from 0 to 4 inclusive.

    In order to facilitate the manipulation of the general sentiment of a text later on, I define a TypeSentiment enum associating to each of these values the associated feeling defined in the form of this enum.

    All this gives the following code:

    Assembling The Different Parts Of The Program

    We are now able to retrieve tweets corresponding to a given keyword. Then, we are able to analyze each of its tweets to get the general sentiment associated with it. All that remains is to assemble all this into the main method of the BitcoinSentimentAnalyzer class.

    First of all, I define a HashMap that will store the number of times each sentiment has been found within the analyzed tweets. Then I call the searchTweets method with the keyword “bitcoin” as input.

    The next step is to iterate on the Status objects contained within the list returned by the searchTweets method. For each tweet, I retrieve the associated text and call the analysisSentiment method to calculate the associated general sentiment in the form of a TypeSentiment instance.

    Each time a sentiment is returned, we increment our counter within the HashMap. After analyzing all the retrieved tweets, we can display the percentage of each sentiment about Bitcoin to give the distribution of current sentiments on Twitter.

    This gives the following complete code:

    Bitcoin Sentiment Analyzer In Action

    The best part of this article comes as we will put into action the Bitcoin Sentiment Analyzer program that we have just built. After executing the program and after a few seconds of analysis, I obtain the following result:

    On the sample of tweets returned by the Twitter API, the general sentiment around Bitcoin is as follows:

    • 2% of very negative tweets
    • 72% of negative tweets
    • 12% of neutral tweets
    • 14% of positive tweets

    Our Bitcoin Sentiment Analyzer clearly shows that the general sentiment is rather negative about Bitcoin on Twitter right now.

    To Go Further

    Our Bitcoin Sentiment Analyzer is perfectly functional and provides an excellent basis for further analysis of sentiments around Bitcoin. Thus, you could perform this analysis continuously for correlating it with the price of Bitcoin that you can retrieve through the Bitcoin Price Index API from Coindesk.

    You could thus deduce from this if the general sentiment around Bitcoin on Twitter is directly related to the evolution of its price. This program can help you improve the prediction of the future price of Bitcoin. For this type of program, you will need to switch to the paid developer API of Twitter for getting the tweets on Bitcoin in real-time.

  • Fiat Money Is Your Comfort Zone, Bitcoin Is Your Growth Zone

    Fiat Money Is Your Comfort Zone, Bitcoin Is Your Growth Zone

    You need to make a choice for your future.

    You probably already know that in order to achieve great things in life, you absolutely must make the decision to step outside your comfort zone.

    The comfort zone is the one that makes you feel in complete control of your entire environment. This applies both on a personal and professional level.

    In this famous comfort zone, you are no longer afraid to fail because everything you do is perfectly controlled. Reading this definition of the comfort zone, you can easily understand why so many people spend their whole lives without even thinking about getting out of it once.

    Yet, as long as you stay in your comfort zone, you won’t be able to accomplish anything extraordinary.

    In order to do extraordinary things, you will have to dare to go outside your comfort zone in order to reach the growth zone. For people who are used to living in comfort, this process is never easy, but it is necessary.

    I firmly believe that the current monetary and financial system in which many indulge is your comfort zone. In order to evolve and do great things in the future, you are going to have to absolutely leave that comfort zone to reach the growth zone.

    Bitcoin, which is the only credible alternative to the current system in the years to come, is this growth zone that will allow you to move up a gear in the future.

    Fiat Money Is Your Comfort Zone

    You live in the United States, Canada, or Europe. You were lucky enough to win the big draw of life by being born in a rich country. In fact, the current monetary and financial system seems protective to you.

    Fiat money is your comfort zone.

    You followed the path set out by the society for you. You were a good student in high school and then went on to college.

    Your university degree gave you a good job that can pay you a six-figure salary.

    The 9-to-5 job you do has allowed you to afford a nice and big house on credit.

    To complete this picture, you bought a beautiful car. It’s a family car because you got married and had two children.

    You have the dream life, or at least the life that the society sells you as a dream.

    Why would you go outside this comfort zone?

    The current monetary and financial system, with the almighty U.S. dollar at its centre, has its flaws, but since you benefit from it, you don’t want to look any further.

    You are right in your comfort zone.

    That’s nice, but as long as you stay there, nothing extraordinary can happen to you.

    You’re Afraid to Leave a System You’ve Known All Your Life

    Your life seems idyllic to you. Sometimes you see the news on television or in the newspapers. You see that people in poor countries suffer oppression from authoritarian regimes.

    You are aware that the current monetary and financial system is increasing every day the inequalities between rich and poor in this world.

    You are concerned that this system can produce such a level of inequality in the world.

    Simply looking beyond your comfort zone scares you.

    You tell yourself that you have been lucky and that you are not able to look for a system that would be better for everyone.

    You love the U.S. dollar for everything it allows you to buy and own.

    On the other hand, the few times you try to talk to your friends about these problems, most of them make fun of you and call you fancy.

    You are affected by what other people think of you, and so you prefer not to go beyond this fear zone.

    Your lack of self-confidence forces you to stay in your comfort zone.

    Nevertheless, the more time goes by, the more you want to go beyond that and understand more about money.

    Finding Out How Money Works Is an Absolute Eye-Opener

    After much hesitation, you decide to interest you on money and understanding how it works. You had always felt that all this was too complicated for you, but today you are determined to learn.

    Your entry into the learning zone is an absolute revelation to you.

    You will discover the Bretton Woods Agreement that shaped the post-World War II world in 1944.

    The world monetary system was then organized around the U.S. dollar but with a nominal peg to gold.

    The United States left itself a way out since it had the possibility of defaulting on its external accounts.

    As you delve deeper into your research, you then discover how and why Richard Nixon ended the convertibility of the U.S. dollar into gold on August 15, 1971.

    Signed in early 1976, the Jamaican agreements put a definitive end to the fixed but adjustable pegged monetary system.

    They officially confirmed the abandonment of the international legal role of gold.

    Since then, the U.S. dollar has established itself as the world’s reserve currency.

    Since the United States has no constraints, it has the ability to increase the money supply in circulation whenever it wants without any limits.

    And for the past 40 years, the United States has been spinning the billboard.

    According to the U.S. Bureau of Labor Statistics, current prices are 212% higher than average prices in 1980. Thus, the U.S. dollar has experienced an average inflation of 2.96% per year over the past 40 years.

    The real value of the U.S. dollar has declined steadily since 1980.

    An American must therefore have $312 in his possession in order for his buying power in 2019 to be equivalent to his buying power of $100 in 1980:

    In other words, the U.S. dollar of 2019 lets you buy less things than the U.S. dollar of 1980.

    To fully understand the loss of buying power that you are experiencing, this second graph shows the evolution of a $100 buying power over time since 1980:

    U.S. dollar’s value evolution over the last forty years clearly shows that you have no guarantee that 1 USD = 1 USD for the future.

    The U.S. dollar is devalued year after year by central bankers’ decisions to further increase the money supply in circulation.

    Unfortunately, the people have no say in these arbitrary decisions that devalue what they own.

    In 2020, a person who would believe that 1 USD = 1 USD is a guarantee for the future would be either a fool or a person with blind faith in the commercial banks, the Federal Reserve, the Department of the Treasury, the President of the United States or the Congress.

    In view of past events, this person would probably be a madman!

    Now you feel that the current monetary and financial system is flawed.

    You’re less impacted than people in poor countries at the moment.

    But you understand that it will not necessarily continue like this for much longer in the future.

    An alternative to the current system must emerge.

    Bitcoin Appears to Be Your Only Chance to Regain Power

    You are still in the learning zone and are now looking for alternatives to the current monetary and financial system.

    You have already heard about Bitcoin and are now ready to take the risk of finding out what Bitcoin is.

    Your comfort zone doesn’t feel as nice to you anymore and you want something better for your future life.

    You download Satoshi Nakamoto’s white paper on Bitcoin. The title of this white paper appeals to you.

    Bitcoin is described as “A Peer-to-Peer Electronic Cash System”.

    As you go through this white paper, you may wonder why you didn’t make the effort to find out what Bitcoin is earlier.

    Don’t blame yourself, you just weren’t ready.

    Now you are, and you are amazed to understand first-hand how Bitcoin works.

    You shouldn’t. Bitcoin is what the current monetary and financial system should have been.

    It is simple and accessible to everyone. Money should not be reserved for an elite.

    Everyone needs to be able to understand how money works, and Bitcoin does just that.

    The fact that Bitcoin exists in finite quantities, set at 21 million, shocks you at first.

    Then you understand that scarcity is the best way to give value to Bitcoin.

    This property is written into the heart of the Bitcoin source code and guarantees that 1 BTC you own today will always be equal to 1 BTC of 2100.

    Bitcoin protects what you own better than the U.S. dollar ever could.

    Better yet, Bitcoin has no leader as Satoshi Nakamoto chose to remain anonymous and gave it to the world as a gift.

    No one can stop Bitcoin. No one can stop you from making transactions on the Bitcoin Blockchain.

    What you own in Bitcoin really belongs to you.

    Bitcoin is clearly a revolution that gives power back to the people.

    When you discover the process of updating Bitcoin’s source code, you are convinced that Bitcoin is a true democracy.

    As a pseudonymous network, Bitcoin also allows you to guard against the surveillance society that many countries are starting to set up.

    Future developments of Bitcoin, such as the Lightning Network, will further preserve your anonymity.

    As an inhabitant of a rich country, you are now convinced that Bitcoin is your best alternative to replace the current monetary and financial system.

    You are in the growth zone.

    However, you have one last doubt: can Bitcoin be more than just a Plan B in the future?

    As you read on, you will discover that Bitcoin is already a Plan A for millions of people in countries under authoritarian regimes.

    Bitcoin is already making a huge difference in Venezuela, Zimbabwe, Brazil and Afghanistan. This countries’ list is far from exhaustive.

    It is clearly no coincidence that Bitcoin’s adoption rate is the highest in such countries.

    Bitcoin is the best bulwark for millions of people to protect what they own from the oppression of authoritarian and corrupt rulers.

    By deciding to switch to Bitcoin and support its revolution, you are really entering your growth zone.

    The great thing about Bitcoin is the fact that you’re in your growth zone doesn’t come at the expense of others.

    Bitcoin benefits you, but it also benefits people in poor countries.

    Bitcoin adapts to the needs of its users allowing it to benefit everyone at the same time.

    In building a fairer world for the future, Bitcoin must enable the world to enter a growth zone by giving everyone a chance to benefit from this new system.


    Evolving is never an easy thing in life. Yet you know in your heart that it is the sine qua non for achieving great things. The comfort zone is attractive because it allows you to stay in your small daily comfort.

    The fiat money, and the associated system you currently enjoy, is your comfort zone.

    However, little by little, without you realizing it, this system devalues what you have and challenges your comfort zone.

    You will therefore have to make the decision to evolve for reaching the growth zone. This will force you to fight the fear of newness. Bitcoin can be scary at first with everything its opponents say about it.

    If you dare to go beyond this fear zone to understand what’s wrong with the current system and how Bitcoin addresses it, you will be able to fully enter your growth zone.

    A new growth zone because it will benefit you by giving you back full control over what you own, while helping to build a fairer world for all.

  • Talking in Sat Rather Than in Bitcoin Will Be the Norm in the Future

    Talking in Sat Rather Than in Bitcoin Will Be the Norm in the Future

    Bitcoin price will increase so much that it will be an obligation.

    In the Bitcoin world, more and more people agree that we are probably living the last few months in which a person will be able to buy 1 full Bitcoin.

    Once the third Bitcoin Halving has taken place in May 2020, Bitcoin is expected to experience a very strong bull market for 18 months as it did after the previous Halving in 2012 and 2016.

    No one knows how high this bull market will take Bitcoin price, but it is quite possible that it will approach $100K. At such a price, it is obvious that just few people would still be able to buy a whole Bitcoin.

    Even today, when Bitcoin price is around $7.9K, many people starts thinking that they have already let the Bitcoin train pass them by. These people make the mistake of thinking of 1 Bitcoin as 1 share of a company.

    A single Bitcoin is divisible by eight decimal points, and you should take advantage of this technical feature. The smallest unit of Bitcoin is even called a Satoshi, or Sat for short.

    In the future, I’m sure that talking in Sat rather than in Bitcoin directly will become the norm. I will explain why in the following.

    Bitcoin Price Will Soon Be Far Too High

    With a price around $7.9K, it is still relevant to talk in Bitcoin when you want to give the equivalent price of a good or service. For example, you can say that a plane ticket from Paris to New York is worth 0.046 BTC.

    The median annual salary of a Java programmer in the U.S. is $75K. In Bitcoin, you can very well say that he is paid 0.79 BTC per month.

    Talking in Bitcoin is therefore still quite feasible at the moment, although I must admit it can already be complicated in some cases.

    After the third Halving, Bitcoin price should rise sharply, probably approaching $100K by the end of 2021. If this were the case, the situation would become much more complex.

    The price of a Paris-New York flight expressed in Bitcoin would thus be around 0.00362 BTC.

    Expressing a price in this form is no longer very practical. Indeed, there are too many significant figures after the decimal point.

    With future Halving events, which will occur approximately every 4 years, Bitcoin price is expected to continue to rise sharply. In the not-so-distant future, it is therefore quite possible that Bitcoin price will reach $500K, or even a million USD.

    Assuming a Bitcoin at $1 million, the price of a Paris-New York flight would then be around 0.000362 BTC.

    You clearly understand the problem that will arise in the future by displaying the price of goods and services in Bitcoin.

    Satoshi Nakamoto Anticipated This Scenario

    When he created Bitcoin at the end of 2008, Satoshi Nakamoto anticipated a possible very sharp rise in Bitcoin price. Once again, you have the proof that Satoshi Nakamoto was a visionary.

    To make sure that Bitcoin remains accessible to the greatest number of people in the event of a sharp increase in its price, Satoshi Nakamoto made Bitcoin divisible up to eight decimal points.

    Thus, you can make transactions of as little as 0.00000001 BTC.

    In November 2010, the community agreed that the smallest unit that can be expressed in Bitcoin would be called a Satoshi, or Sat for short. Since then, the Bitcoin source code relies on the Satoshi to express as an amount in Bitcoin.

    At the Blockchain level, transaction amounts are often expressed in Bitcoin next, while transaction fees that are smaller amounts are expressed in Satoshi.

    The alternative use of Bitcoin or Satoshi is for the sake of readability and clarity for users.

    The Satoshi Will Become More and More Important in the Future

    As of March 9, 2020, Bitcoin price is $7,936. From this price you can deduce that $1 is worth 0.00012 BTC. Since 1 Satoshi is equal to 0.00000001 BTC, $1 is equivalent to 12,000 Sat.

    For users, it will be much simpler to say that a coffee at $1 is worth 12,000 Sat rather than saying that it is worth 0.00012 BTC.

    And again, I base this on Bitcoin price at $7,936.

    If Bitcoin price reaches $100K in the coming years, we can easily express the price of a Paris-New York flight as being worth 4,400,000 Sat. Using Sat will therefore make things much easier for Bitcoin users in the future.

    Speaking in Sat instead of Bitcoin will therefore become natural in the future.

    This future domination of Sat is reflected in the rise of the same Stack Sats. Its use increased significantly in 2019.

    I find this very relevant, because many people are beginning to understand that instead of complaining that Bitcoin price is too expensive for them, they can start accumulating Sats.

    Accumulating Sats is a more realistic goal for many people. If today, it may make some people smile, in a few years, people who have accumulated Sats will benefit greatly.

    For example, you can choose to give up your daily Starbucks Caffe Mocha, and use the $5 saved to buy the equivalent in Sats.

    At the current Bitcoin price, you will be able to accumulate 63,004 Sats per day. If you keep this strategy for 5 years, provided that the price of Bitcoin remains constant at $7,936, which obviously will not be the case, you would then have 1.1498 BTC in your possession.

    Proof once again, if it were needed, that starting small, while being constant, always makes a big difference in length.


    The Satoshi unit is still unknown to a majority of Bitcoin owners. In the future, its use is likely to increase sharply. Indeed, it will become much simpler to speak in Sat when Bitcoin price has reached the heights Bitcoiners believe it is capable of.

    Furthermore, using a unit such as Sat allows users to see that Bitcoin can be accessed even without a very large investment budget.

    Simply investing $5 a day in Bitcoin, the equivalent of 63,004 Sats, over the next 5 years could allow you to own 1 full Bitcoin by the end of that period.

    So it’s in your best interest to adopt Sat now when it is set to become the standard instead of Bitcoin in the future when talking about prices in Bitcoin.

  • Bitcoin Is Not a Get Rich Quick Scheme, It Is Here to Avoid You Get Poor Slowly Over Time

    Bitcoin Is Not a Get Rich Quick Scheme, It Is Here to Avoid You Get Poor Slowly Over Time
    Illustration by In Bitcoin We Trust

    Bitcoin is your best weapon facing the current system.

    Becoming rich with Bitcoin is the fantasy of many people. The fact that Bitcoin allowed transforming $1 invested in 2010 into $90K at the end of 2019 is not unrelated to this. An asset with a return on investment of +9,000,000% in 10 years is something never seen before in history.

    Logically, a majority of people come to buy Bitcoin attracted by the lure of financial gain.

    As I often say, this is not a bad thing. Most recent Bitcoiners have also come into the world of Bitcoin primarily attracted by the incredible financial investment it represents.

    The difference comes afterward.

    Once the first purchase of Bitcoin is made, some will make the mistake of leaving it at that. These people will miss out on the Bitcoin revolution because they won’t make the effort to learn more.

    Indeed, after buying Bitcoin for the first time, you would miss the point if you didn’t make the effort to better understand the purpose of Bitcoin, but also to learn more about money and the economy in general.

    Those who do so never regret it. They systematically become Bitcoiners who are convinced of the future success of Bitcoin.

    Bitcoin is so much more than just a get rich quick scheme

    Bitcoiners also understand this fundamental truth about Bitcoin:

    Bitcoin is not a get rich quick scheme, rather Bitcoin’s purpose is to prevent you from getting poor slowly but surely over time because of the current monetary and financial system’s flaws.

    I must confess that this formula was greatly inspired by a tweet from Jameson Lopp:

    The message in this tweet is so powerful that I decided to make it a full story to help some people better understand why Bitcoin is more than just a get rich quick scheme.

    The current monetary and financial system was unilaterally introduced in August 1971 by Richard Nixon when he decided to end the convertibility of the U.S. dollar into gold. This system was then officially confirmed by the Jamaica Accords in January 1976.

    Since the de facto introduction of the current system, central banks have been free to print as much fiat money as they wish. This means that the current system is not based on anything tangible.

    If you still doubt it, just look at how easily central banks have been able to print more than $10 trillion out of thin air since March 2020.

    The Fed is in first place with its $3 trillion printed and then injected directly into the current monetary and financial system. The incredible increase of its Balance Sheet over this period is clear proof of this:

    Great monetary inflation has devastating effects

    The great monetary inflation that we are experiencing has a variety of consequences:

    • Helps governments to borrow always more fiat money. Most G20 countries now have a public debt-to-GDP ratio well above 100%.
    • Creates a speculative bubble in the stock market that faces what I call the iceberg illusion.
    • An unprecedented increase in the wealth of the richest.
    • The poorest are being put in more trouble than ever before.
    • Significant currency devaluation of the U.S. dollar and other fiat currencies in the coming months and years. Since 1971, the purchasing power of $1,000 has lost 85% of its value. If you had wanted to beat the effects of inflation since 1971, you would have been able to turn that $1,000 into $6,330 by 2020.

    This list is unfortunately far from being exhaustive, but it does show you the extent of the damage caused by this policy of unlimited quantitative easing conducted by the central banks.

    The current system locks us into a vicious circle:

    The infinite vicious circle of the current monetary and financial system — Sylvain Saurel

    This vicious circle is made up of six major stages which have been in an infinite loop since the establishment of the current monetary and financial system in August 1971 :

    1. An economic crisis intervenes. The reasons can be a banking crisis as in 2008 or a health crisis as in 2020 with the coronavirus pandemic.
    2. Faced with this economic crisis, the Fed and the other central banks always end up opting for the same solution: to print more and more fiat money. This fiat money printed out of thin air is then injected directly into the monetary and financial system.
    3. The governments of the major economic powers implement stimulus plans, which are almost always financed by an increase in public debt. The public debt-to-GDP ratio of most G20 countries is now above 100% or even worse.
    4. All of these decisions lead to great monetary inflation. The value of the U.S. dollar, which is the world’s reserve currency, has been steadily declining over time, as shown by the change in the purchasing power of the U.S. dollar since 1971.
    5. The injections of money benefit the richest people. Each economic crisis further strengthens their wealth. The poorest, who need help the most, are put in even greater difficulty by these decisions. The current system, therefore, benefits a minority of people who are already rich.
    6. The real problems of the monetary and financial system are known, but they are never really addressed. Injections of money in almost infinite amounts only serve to postpone the resolution of problems. As these are never solved, a new economic crisis always occurs about ten years later.

    The vicious circle of the current system is dramatic because from crisis to crisis, the magnitude of the problems increases.

    The infinite printing of fiat money is at the root of all the problems of the current system

    The endless printing of fiat money by the Fed and other central banks is clearly at the root of all the ills of the current system. Unfortunately, the Fed and other central banks continue to use this mechanism to put off solving the real problems in the current system until later.

    To give you an example, it’s a bit like an alcoholic deciding to treat his addiction by drinking more alcohol every day.

    This would make no sense, and would only postpone the resolution of his problem.

    Unfortunately, central banks have been doing this consistently since 1971. The problem is that they have made the economy addicted to this easy money policy. Stopping this policy now would have devastating consequences, yet it would be the only thing that makes sense to ensure a better future for all in the long term.

    As it stands, the current monetary and financial system only increases the inequalities of wealth between the very rich and the poor. Since no one wants to make the necessary efforts to change it, it condemns us to become a little poorer every day.

    Until the economic crisis of 2008, we had no way out of this infernal spiral.

    Bitcoin is the solution to get out of the vicious circle of the current system

    And then Satoshi Nakamoto invented Bitcoin and gave it to the world as an incredible gift. It is then up to its users to make it a success or a failure.

    Bitcoin’s great strength is that it puts the power in the hands of its users, and therefore in the hands of the people.

    Bitcoin forces you to take control of your destiny when it comes to money so that you no longer let a minority of powerful people make bad decisions for a majority of people who have to suffer the consequences.

    Buying Bitcoin today, and HODLing it in the long run, will make you rich in the future. That is my belief and the belief of all Bitcoiners.

    However, we don’t buy Bitcoin just for that. We buy Bitcoin because we can no longer tolerate that the fruit of our labor, the fiat money we earn, is constantly devalued by the people who run the current system.

    What’s the point of working hard to see your fiat money lose its value over time?

    The U.S. dollar was designed to be at the heart of a system that pushes you to spend more and more. You have to keep buying things you don’t need. If you want to save for the long haul, you will lose out.

    With the current system, you have no choice.

    Bitcoin gives you the power and freedom

    Bitcoin allows you to preserve your wealth in a way that is resistant to censorship. Once you have taken possession of the private keys of your Bitcoins, you are the only master on board.

    No one can confiscate your Bitcoins from you, and no one can prevent you from making the transactions of your choice on the Bitcoin network.

    Bitcoin is a store of value far more accessible to the masses than gold, but more importantly, it is far scarcer than the precious metal. There can never be more than 21 million BTC in circulation. This limit will never be changed, as no consensus will be found to move in that direction.

    Bitcoin gives you the guarantee that 1 BTC of 2020 will be equal to 1 BTC of 2050.

    This essential fact must be added to the inflation in the supply of new bitcoins, which is steadily declining over time. It will reach zero when all bitcoin is extracted by 2140.

    The reduction in the supply of new Bitcoins is inevitable because it is written into the Bitcoin source code itself. It will come in opposition to the demand for Bitcoin, which will continue to grow in the coming years:

    Illustration by Sylvain Saurel

    Applying the principles of the law of supply and demand, it is easy to see why the price of Bitcoin could reach one million dollars within 20 years.

    The continued currency devaluation of the U.S. dollar over time will further facilitate this sharp increase in the Bitcoin price in the future.

    Bitcoin allows you to live your life on your own terms. Bitcoin is a savings technology that gives you the ability to focus on the long term.

    You can decide to save your Bitcoins without the risk that their value will decrease. The opposite is true. By having a fundamental trust in Bitcoin, and becoming a Bitcoin HODLER no matter what, your patience will be rewarded.

    Your Bitcoins will continue to appreciate in value over time.


    With Bitcoin, you can break out of the pattern of becoming poorer and poorer over time. Even more than the possibility of becoming rich, Bitcoin offers you the possibility of no longer being condemned to become poor.

    The total freedom that Bitcoin gives you is priceless. Few people understand it now, but the coming years will allow more and more people to open their eyes to discover the ugly truth about the current system.

    They will then naturally opt to buy the hardest money in the world, namely Bitcoin. Time is on Bitcoin’s side, and its success is inevitable.

  • The Seven Deadly Sins of the Current Monetary and Financial System That Will Cause Its Collapse

    The Seven Deadly Sins of the Current Monetary and Financial System That Will Cause Its Collapse

    Evolve or be extinct.

    Illustration by Sylvain Saurel

    Established de facto by Richard Nixon in August 1971, the current monetary and financial system is exposing its flaws with the economic crisis into which the coronavirus pandemic has plunged us.

    People who have made the effort to educate themselves about money and economics have long understood that the experiment of the current system is going wrong.

    The disastrous consequences of the limitations of the current system are being felt at all levels: the printing of endless amounts of fiat money, the explosion of public and private debts, the increase in income inequality to record levels, increasingly frequent banking crises, economic crises that are following on from one another with ever greater magnitude, …

    The list is so long that I would have to write a book to detail all these consequences.

    Instead, I propose you to focus on the seven deadly sins of the current monetary and financial system that will sooner or later cause its collapse. Of course, an evolution of this system is still possible. Nevertheless, the people who run it do not seem to have any intention of changing the current system to make it better.

    Its extinction, therefore, seems inevitable.

    1. Infinite monetary inflation

    At the end of the Second World War, the Bretton Woods agreements laid out the broad outlines of the international financial system that was put in place from 1944 onwards.

    The world monetary and financial system was then organized around the U.S. dollar, but with a nominal peg to gold.

    If the U.S. dollar was the world’s reserve currency, the system was based on something tangible: gold. During this period, which lasted from 1944 to 1971, income inequality decreased before stabilizing. On the other hand, there was no banking crisis for almost 30 years.

    This gold standard system had thus allowed a real stabilization of the world economy.

    Then, in August 1971, Richard Nixon decided to put an end to the Bretton Woods system. His unilateral decision was meant to be temporary, but it finally became final.

    The Jamaica Accords in January 1976 legalized the monetary and financial system as you know it today. The monetary system of fixed but adjustable parities was definitively abandoned. These accords officially confirm the abandonment of the international legal role of gold.

    The system of floating exchange rates is legalized.

    Since August 1971, central banks have the full power of monetary creation. Thus, a minority of unrepresentative people can print as much fiat money as they wish.

    This is the first cardinal sin of the current system which the Fed and other central banks constantly abuse. This can be easily observed by looking at the evolution of the circulating money supply of the U.S. dollar:

    The increase in the M2 Money Stock has even accelerated sharply since the 2008 crisis, with an exponential increase in 2020. Indeed, the Fed has just boosted the M2 Money Stock by 3,000 billion in just three months between March 2020 and June 2020.

    This infinite monetary inflation prevents the stabilization of the world economy. Worse still, it is making the ultra-rich ever richer, while the poor are living in increasingly difficult conditions.

    This problem had already been raised as early as the 18th century by the economist Richard Cantillon in what is now called the Cantillon Effect.

    It is at the heart of the injustice of the current system.

    2. Ever-growing debts

    Since money can be printed in unlimited quantities, governments take advantage of this to borrow more and more money. The current system is built on this notion of debts that never stop growing.

    The public debts of States are never reduced.

    The world public debt is slowly but surely approaching $100,000 billion by the end of 2020. As the world’s largest economic power, the United States is the leader in this field with a debt of more than $26,500 billion.

    At the current pace, and taking into account the upcoming stimulus plans to support the economy in the face of the coronavirus pandemic, it is more than likely that this debt will reach $30,000 billion by the end of the year 2020.

    The ratio of public debt to GDP in the United States is now well above 100%:

    The situation has worsened significantly since the economic crisis of 2008. As a result of this crisis, the problems of the current system have never been addressed.

    Instead, all central banks have decided to print more and more money to hide the problems and postpone their resolution.

    The economic crisis of 2020 is only a continuation of the crisis of 2008 with much greater magnitude.

    In terms of private debt, the situation is just as catastrophic. The current system relies heavily on private debt as well. Private banks are creating more and more money by lending to their clients.

    For those who do not fully understand how banks create money by lending to their clients, I will give you a quick example.

    Adam goes to his bank to borrow money to buy a car or a house. The bank gives Adam a line of credit. Every time the borrower makes a payment, the bank withdraws it from the principal amount of the loan.

    This is not a zero-sum transaction, because the bank deducts the amount from the balance of the line of credit it has granted. The borrower’s line of credit remains the same, and the bank can continue to lend the money in the future to others.

    This way of operating based on customer indebtedness means that more and more new money can be created. The amount of money in circulation can only increase over time. The price of fiat money logically falls.

    3. An opaque and corrupt banking system

    The banking system is opaque and corrupt. For those who doubt it, just type “Bank scandals corruption” in Google. You’ll be surprised to see all the cases involving well-known banks that come up.

    You will see Goldman Sachs appear in the 1MDB scandal. For your information, Goldman Sachs has just agreed to pay 3.9 billion dollars in compensation in connection with this case.

    Danske Bank will also figure prominently. Through its Estonian subsidiary, Danske Bank has been found guilty of facilitating money laundering from 30 to 230 billion dollars from 2007 to 2015.

    This very wide range clearly shows the opacity of the current banking system.

    More than one private bank, in particular, it is the entire banking system as a whole that is flawed. It requires total trust in men and women who abuse the trust of their clients. Under these conditions, the current banking system cannot function as it should.

    4. Market manipulation

    The unlimited printing of fiat money by central banks is the root of all the evils of the current system. Proof of this can be seen once again in the way this money is used in the financial markets.

    To save the current system at all costs, the Fed and other central banks are injecting the printed money into the financial markets.

    The Fed mainly buys U.S. Treasury bonds, which allows the U.S. government to increase the U.S. public debt even more. The Fed goes further by buying many other assets.

    The Fed does not yet have the right to buy shares directly on the stock market, but more and more voices are being raised to allow it to do so in the future.

    The Fed’s actions distort the market by ultimately creating a real bubble in the stock market. This is exactly what is happening amid the economic crisis of 2020.

    Driven out of the bond market by ever-lower interest rates, individual investors rushed into the stock market by buying mainly shares of Tech companies.

    A veritable speculative bubble has formed, which will eventually burst and hurt all the less experienced investors.

    The free market no longer exists in the United States. The situation is the same in Europe or Japan. To give you a better idea of the problem, you can look at the Fed Balance Sheet which has exploded since March 2020 :

    In just a few weeks, the Fed Balance Sheet increased by +70% to make the Fed the world’s leading asset manager ahead of BlackRock.

    The situation of the European Central Bank is also similar. To tell the truth, all central banks are following this trend of exploding Balance Sheets.

    The free market no longer exists in 2020.

    In the corporate world, this free market no longer exists either, as the various bailouts granted by the U.S. government to certain companies have shown.

    It is the American government that has been able to decide the fate of companies that do not let the market make its natural selection. Companies that should have disappeared have been saved in this way. We now talk about zombie companies because they only survive thanks to this type of aid.

    5. Censorship

    Governments, central banks, and private banks control the current system. Their power of censorship is immense. At any time, a government can arbitrarily ask for your assets to be confiscated.

    Private banks can block their clients’ transactions as they see fit.

    Since they are private institutions, banks have the right to apply the rules they wish. In 2020, we had the example of banks that terminated the accounts of customers who had dared to criticize them on social networks.

    Freedom of expression tends to disappear with the current system.

    It is a deadly sin that citizens must fight against. Many do not understand that a fundamental right such as freedom of expression can only be maintained at the price of a constant struggle to preserve it.

    The people are therefore looking for alternatives to the current system to preserve this freedom of expression and to no longer be subject to censorship.

    6. A system that doesn’t evolve

    Politicians, central bankers, private bankers, and economists at the head of the current monetary and financial system are very intelligent people. They know perfectly well that the current system is flawed.

    Jerome Powell, the Fed Chair, even admitted it on May 17, 2020, during an exclusive interview for the 60 Minutes program:

    “The people who’re getting hurt the worst are the most recently hired, the lowest paid people. It’s women to an extraordinary extent. We’re actually releasing a report tomorrow that shows that, of the people who were working in February who were making less than $40,000 per year, almost 40% have lost their jobs in the last month or so. Extraordinary statistic. So that’s who’s really bearing the brunt of this.”

    — Jerome Powell

    Jerome Powell knows the injustice of the policy of unlimited quantitative easing in which all central banks engage.

    The poorest people suffer a little more each time. The rich get richer and richer.

    Yet Jerome Powell will do nothing to try to change a system that benefits him and that has allowed him to become a multi-millionaire. It is the same for all the players in key positions in the current system.

    No one has an interest in changing a system that benefits them so much.

    Stuck in total immobility, the current monetary and financial system will eventually come to an end. You know what we usually say:

    Evolve or be Extinct.

    This adage also applies to the current system. Since the leaders refuse to change it, a fairer solution will eventually emerge from the people sooner or later.

    7. The U.S. dollar as the hegemonic reserve currency

    The U.S. dollar has been the world’s reserve currency since 1920. The establishment of the current monetary and financial system in August 1971 only reinforced the undivided hegemony of the U.S. dollar.

    This hegemony gives an incredible privilege to the United States.

    The fact that the U.S. dollar is the reference currency used in international trade, especially in the world of oil, implies an ever-increasing demand for this currency.

    As a result, the U.S. dollar is much more liquid than other currencies. When the world goes through a liquidity crisis, as was the case at the beginning of March 2020, capital goes to the U.S. dollar, which means a strong increase in demand for the USD.

    The Fed will, therefore, inflate the money supply of the U.S. dollar to meet this ever-increasing demand. This then leads to a devaluation of other currencies against the U.S. dollar.

    In doing so, the Fed will export U.S. dollar inflation around the world. The Fed’s failed policy is affecting the entire current monetary and financial system.

    This unlimited monetary expansion devalues the value of the U.S. dollar in the long run. It allows the United States to impose a kind of disguised tax on all the people of the world.

    A more politically neutral currency will have to emerge sooner or later to balance things out and allow the construction of a fairer system for all in the future.


    The current monetary and financial system is relatively young. It will celebrate its 50th anniversary in 2021. Yet some people think that this system has always been there. In reality, this system is more of an experiment that shows its flaws year after year.

    The economic crisis of 2020 has allowed a growing number of people to open their eyes to the flaws of this system, which cannot remain in place forever.

    The people at the head of the current system will sooner or later have to make it evolve so that they better respect the populations, otherwise, it will completely fail because of its seven deadly sins, at the forefront of which is of course the infinite impression of fiat money.