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Hey Newcomers! The Chairman Of Today’s Hottest Newsletter Teaches: Why Bitcoin?

  • June 10, 2021
  • Posted by: admin
  • Category: BitCoin, Blockchain, Cryptocurrency, Investments
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If you’re new to the space and thinking about Bitcoin from an investor’s standpoint, this is the guide for you. The crypto world is mysterious, complicated, and seemingly dangerous. The first few steps are the hardest. For newcomers, the amount of information available might seem daunting. Fear not! Alex Liberman, of Morning Brew fame, did the heavy lifting for you.

But before we go on, for the uninitiated, Tech Crunch describes Morning Brew as:

… a daily newsletter designed for young business professionals. Each morning email has a stock market recap, a few short briefs on the most important business news of the day and a small section with lifestyle content. The result is the perfect mix of Wall Street essentials (like market analysis) and tech news.

The initial newsletter expanded and became a media empire. Nowadays, they produce four other newsletters/ brands, two podcasts, and have an active community of readers. The company’s estimated to be worth $75 million.

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Now that introductions were made, let’s get to the matter at hand.    

As Newcomers, What Do We Need To Know About Bitcoin?

Liberman’s thread starts with a bang:

One of Bitcoin’s community tenets is: Do your own research. Or, as Liberman puts it, “Never make a decision just because a bunch of people on Twitter tell you to. Use loud voices as a sign to do research, not make decisions.” Newcomers, Bitcoin puts the power in your hands, but also the responsibility. Use this article as a starting point, but do put in the time and effort to make an informed decision. 

The man put “30 hours researching prior to pulling the trigger,” which is a decent amount. We’re sure he’s just starting, though. The Bitcoin world has a tendency to pull you in deeper and deeper once you have skin in the game. A newcomer might ask, what drove Liberman to buy Bitcoin in the first place? Well:

Oh, inflation. With the rampant money printing the US Federal Reserve is engaging in, every US citizen is thinking about it. Then he goes into the limitations of the traditional and well-respected gold. Is Bitcoin a gold 2.0 of sorts? It might very well be. There’s not much to comment on here newcomers, let’s get on with Liberman’s research.

There Will Be Appetite For A New Store Of Value 

There are a lot of cryptocurrency projects, Bitcoin is the only one that “doesn’t rely on any one person or institution.” It’s decentralized, trustless, and permissionless. Everybody can participate, newcomers can join in at any time. The community makes the decisions via an unprecedented consensus process. 

Then, he makes an interesting point, “Trust—not intrinsic value—will determine the next store of value.” The fact that Bitcoin has lasted this long, and the way the community defends its key characteristics, are a source of trust. What Liberman hasn’t yet figured out is that Bitcoin is the only asset in the history of the world that presents absolute scarcity. That alone gives it “intrinsic value.” That alone makes it the better store of value ever created.

BTCUSD price chart for 06/10/2021 - TradingView

BTC price chart on Bitstamp | Source: BTC/USD on TradingView.com

Newcomers Might Ask, What Are The Risks?

Let’s not play coy, he’s talking about Elon Musk in point two. The thing is, Elon and his team obviously did their research on environmental issues before Tesla invested a gazillion Dollars in Bitcoin. How could they not? And there’s evidence that he had other ideas about it weeks before the announcement. Why did Elon do a 180 then? Nobody knows for sure. But a lot has been said about how Bitcoin is actually going to be the incentive for the world’s switch to green energy. And what an incentive it is.

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The government regulations game is still afoot. There’s definitely risk there, but that risk might look like an opportunity for other countries. Do we think the whole world is going to agree on one policy? It’s hard to imagine. Newcomers, let’s just admit the risk and watch how this story plays out.

Final Words And More Info For Newcomers

That’s right. If you found Liberman’s take interesting, there’s a whole podcast episode about it. And if you enjoyed our take on his take, there’s an infinite amount of information on this site. Just type what you find interesting in the search box and see where Bitcoinist takes you. Bon voyage!

Featured Image by Nathan Dumlao on Unsplash - Charts by TradingView
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