Memes Part 1: What is Bitcoin?
There is a saying that Bitcoin is everything people don't understand about money, combined with everything people don't understand about technology. That means there's a lot to learn!
To make it as easy as possible, we've tried to replace traditional educational materials with memes, and (hopefully) meme our way to Texas Bitcoin adoption.
At the end of the day, there is no correct path to learn about Bitcoin... everyone has to find their own way and do their own research. These memes are only guide posts - don't just blindly trust us! You'll need to verify everything yourself and look deeper into any topic that captures your interest.
So without further ado, we present to you the Texas Bitcoin Project Rabbit-hole!
(It takes about 15 minutes, we promise it will be worth your time!)
Morpheus: “You take the blue pill, the story ends, you wake up in your bed and believe whatever you want to believe. You take the [Orange] pill, you stay in wonderland, and I show you how deep the rabbit hole goes.”
There can never be any more Bitcoin than 21 million, so as time goes on and coins are hoarded/misplaced, it means the available supply of Bitcoin shrinks. As the available supply for sale shrinks over time, Bitcoin becomes more rare, which makes the price goes up. Bitcoiners like to joke this is built-in "Number Go Up" Technology.
Don't worry, most people still don't know anything about Bitcoin!
If finding out the dollar isn't backed by gold is news to you, sorry you're hearing it now for the first time! In 1971, President Nixon declared that dollars could no longer be redeemed for gold, implicitly defaulting on our debt. By severing the ability to redeem dollars for our nation's gold, the US essentially declared bankruptcy on all of our foreign debts. The dollar has not been backed by gold ever since.
We've been conditioned to think inflation is an inherent part of the system - leading us to work harder and harder to combat our money losing purchasing power every year.
It was supposed to be a game, not how the global financial system works!
The entire fiat system is based on debt, all fiat currencies are "IOU's" created from the Central Banks of each country. The "IOU's" are promises intended to be redeemed in the future, created out of thin air and not tied to anything ever since the gold standard was abandoned.
Essentially the National Debt is the amount of "IOU's" in existence!
In contrast with Bitcoin, the vast majority of Dollar users have no idea how money works.
A growing number of Millennials and a good chunk of Gen Z are completely out on Fiat.
Some Baby Boomers catch on to the benefits of Bitcoin very quickly! Others are a little more resistant.
Bitcoiners have abruptly showed up on the hard asset scene! Bitcoin has quite quickly begun to cannibalize the Gold market as a form of "Digital Gold".
Regardless of your opinion, the kids are doing it... and you can't stop them!
Bitcoin IS the profit. It's quite a mental flip, but Bitcoin IS the money you "cash out" into.
The world will inevitably be based on a Bitcoin Standard - are you ready?
The way Cell phones were a new technology that absorbed many other devices, Bitcoin is a money technology that will absorb investment dollars from many alternative asset classes. Bitcoin's absolute scarcity makes it the hardest of hard assets, and thus a superior long-term investment.