Ben Simpson argues that it is not too late to buy Bitcoin. He summarizes a brief history of money (barter → gold → paper/gold-backed currency → fiat) to contrast prior monetary systems with Bitcoin, and presents Bitcoin as a new, software-based, limited-supply, decentralized form of money that is divisible, transferable globally with low fees, and secured by math and computation rather than governments. He concludes with the opinion that Bitcoin will continue to go up and investors should not overthink timing.
Chapters
Are you too late to bitcoin? Absolutely not. I'm going to share with you why Bitcoin, in my opinion is going to continue to go up and to not overthink when to buy bitcoin. What even is Bitcoin? Well, bitcoin is just the most purest form of money. Every 20, 30 years the world changes. The way goods and services are treated and how money is exchanged go right back to the caveman days. We were just bartering goats for cattle, alright? We didn't have any form of money. Then it went to physical gold. They used to melt gold and into gold coins to then distribute. And that gold was the thing that was most valu. Then they realized they could make more gold by actually melting it with copper and other metals. So they devalued that pure gold to make more money. That was the first form of money printing. Then they realized, well, that's too hard because we can't chop gold in half. Let's actually use paper money, but let's back it with gold in the bank. So it was like a convertible note for the gold in the bank. Then they realized, wait a minute, what if we don't have to back that paper money anymore with the gold? Let's go spend the gold and let's just print more money. That's where we are today. The paper money that we have in our pocket is purely a trust system based on the fact that we all believe it's worth something and it's not backed by anything. All right? That's why you go to the bank and you try and get $5,000 out, $20,000 out. You can't because they don't have it. All right? 80% of the world's money right now actually is just digital money on the screen. Bitcoin now came along and Bitcoin is that new form of money. Bitcoin is software. It is limited in supply, it's decentralized in nature and it is the most purest form of money because it's properties, it's divisible. I can send it anywhere in the world, no fees. I control all of it. And it is backed by actual math and computational power, not governments of people. So that. Am I too late to bitcoin? No. It is only going up, in my opinion.
