I believe that Bitcoin is a revolution that will change the future world and provide a better life for more people. I am a member of the so-called Bitcoiners. For us, the Bitcoin revolution is inevitable.

However, when reading information on forums or social media, I realized that some people still blindly believe in the current monetary and financial system. Others are just beginning to ask questions about this system. With the economic crisis in 2020, the defects of this system are Unprecedented exposure.

Finally, there are some people who intend to buy Bitcoin, but before they buy, they will ask themselves the ultimate question:

Why should I buy and HODL Bitcoin in 2020?

In order to help the popularity of Bitcoin, I think it is necessary to answer questions of this kind raised by some people who want to educate themselves better so that they can be freed from a legal currency system that does not respect them.

Therefore, I will answer this question as simply as possible in order to provide those who are still hesitating with the key to further enter the Bitcoin world.

1. Coronavirus pandemic triggered an economic crisis that has not been seen in decades

Since the beginning of March 2020, the new coronavirus (coronavirus) has spread around the world, triggering a huge economic crisis that many people have predicted for months or even years.

Financial markets have been artificially inflated for several months, and everyone believes that this situation cannot last forever.

Even without a coronavirus pandemic, sooner or later the economic crisis will break out.

Unfortunately, the fact that the health crisis is the root cause of the economic crisis in 2020 has exacerbated the impact of the crisis. In order to curb the spread of the new coronavirus, most major economic powers decided to take blockade measures.

This is a necessary evil to protect the lives of millions of people. However, it has had a disastrous impact on the economy.

By 2020, the GDP of the world ’s major economic powers will fall by at least 10%, the unemployment rate will explode, consumption levels will drop to half, and countless companies will go bankrupt.

The current situation in the United States perfectly summarizes what is happening all over the world.

Since the outbreak of the coronavirus crisis, the United States has added more than 40 million job seekers, GDP fell to -4.5% in the first quarter of 2020, and thousands of companies applied to the federal government for assistance.

As of the end of May 2020, from the perspective of the coronavirus pandemic, the situation seems to be slow but certainly improving.

However, there is no guarantee for this type of pandemic. Before the mass production of vaccines, the second wave of infections is likely to occur. In fact, the economy still has uncertainties, and the economic recovery is likely to be composed of a series of recovery and stagnation.

We need patience because it takes months, if not years, to return to normal.

2. The central bank abuses quantitative easing policy, the government exaggerates public debt

In the face of the New Coronary Pneumonia epidemic, almost all major economies in the world have adopted the same strategy to support their national economic development:

Lower the interest rate of the central bank.

The central bank implements the quantitative easing program.

A stimulus plan funded by government public debt.

As the world’s largest economic power, according to these standards, the amount announced logically by the United States is the most impressive.

The Fed decided to implement an unlimited quantitative easing program from March 23, 2020. Since then, the Fed has printed nearly $ 3 trillion.

All currencies printed by the central bank are directly injected into the monetary and financial system, and the unprecedented growth of the Fed ’s balance sheet since early March 2020 can prove this:

Fed’s balance sheet since December 2019

This point did not attract attention, but the Fed also decided on March 23, 2020 to reduce the deposit reserve ratio of the Bank of America to zero. This decision has a major impact on American citizens.

In fact, from now on, banks will be able to create as much money as possible by issuing as much credit as possible.

In addition, this means that the money in your bank account no longer has any real value. You may have $ 10,000 in your bank account, but your bank does not guarantee that it will give you the money directly.

The U.S. government has also made an unprecedented decision to launch a large-scale economic stimulus plan of $ 2 trillion. In addition to this astronomical figure, several support plans have been formulated specifically for companies, administrations and hospitals.

At present, the total expenditure of the US government exceeds 3 trillion US dollars.

Considering the damage this economic crisis has caused to the US economy, this is obviously not enough. A new $ 3 trillion economic stimulus plan is still under discussion in the US.

Obviously, all of these stimulus plans are funded from public debt. The public debt of the United States has just exceeded US $ 25 trillion, accounting for more than 115% of GDP.

By 2020, public debt to GDP ratio of more than 100% seems to have become the norm of the world’s major economic powers.

3. The economic crisis in 2020 highlights the shortcomings of the current system

The measures taken in response to the economic crisis in 2020 are unprecedented. The US government ’s $ 2 trillion economic stimulus plan even includes the issuance of a $ 1200 economic stimulus check to all eligible citizens.

Although this move looks respectable, unfortunately, the amount of such a check is too small to help millions of Americans living in extreme poverty.

When we rescue the currency and financial system at all costs, when private companies receive millions of dollars from the federal government without any compensation, citizens can only eat breadcrumbs.

More and more people are beginning to realize that the current system has problems.

The current system was established 49 years ago, and it only exacerbates the wealth gap between the rich and the poor. Although the living standards of the poor are constantly improving, progress is too slow and their living conditions cannot be truly changed.

In addition, the current system has caused one economic crisis after another.

All actions taken by the central bank and the government will make the rich richer, while the poor will be hit hard by the huge currency inflation caused by it.

In fact, an unprecedented increase in the money supply will lead to inflation, first of all affecting those most in need. Here, we find the application of the cantilever effect theory, many of whom believe that Bitcoin is an antidote.

Federal Reserve Chairman Jerome Powell clearly stated in an interview with the 60 Minutes program:

“The most seriously hurt are those who have recently been hired and have the lowest salary, to a large extent women. In fact, we will release a report tomorrow. The report shows that among those who worked in February, the annual income Nearly 40% of people under $ 40,000 lost their jobs in the last month or so. “

What I find most disturbing is that central bank officials and the government are fully aware of the unfairness of the current system, but they still use the same method over and over again.

For all economic ills, the only answer given by the holders of the fiat currency system is the same:

Lower interest rates.

Large-scale quantitative easing program.

A stimulus plan funded by public debt.

All these decisions endanger our daily lives, but what’s worse, they will put a very heavy burden on future generations, and they will have to pay for it.

With each new economic crisis, the shortcomings of the current system will be revealed more clearly.

Sooner or later, most people will reach the same conclusion: things cannot go on like this forever. Some things must change. Since those in power in the current monetary and financial system are reluctant to revise the system in depth, solutions will have to be generated from the people.

4. Bitcoin is an emerging solution to the defects of the existing system

Bitcoin was officially launched on January 3, 2009, and was created by Satoshi Nakamoto in 2008. It should be seen as a response to the economic crisis that shook the world in 2008.

The crisis in 2008 began with a banking crisis. The root cause of this crisis is not only the repeated abuse of power by bankers, but also the policies of the central bank.

Satoshi Nakamoto discovered this problem.

He said: “The fundamental problem with traditional currency is that for it to work, there must be enough trust. It must be believed that the central bank will not devalue the local currency, but in the history of fiat currency, this kind of trust has been destroyed everywhere. . We must believe that banks will hold our money and transfer it electronically, but they will lend it out in waves of credit bubbles, and the deposit reserve ratio is only fractional. “

The manipulation and wrong decisions made by banks and central banks have made us lose real trust in this system.

To make the problem even worse, in every economic crisis caused by the mistakes of a few people, the poorest people must pay for the decisions of the central bank and the government.

Bitcoin is a whole paradigm shift and has been growing block by block since 2009.

Eleven years after its birth, Bitcoin’s market value has exceeded 170 billion US dollars, with millions of users who believe in the Bitcoin revolution.

Bitcoin gives you complete power. With Bitcoin, you do n’t have to risk being censored when you want to make a transaction. In addition, your Bitcoin cannot be confiscated as a bank confiscates your fiat currency.

In addition to the full control that Bitcoin gives you, it also has a monetary policy, as opposed to the quantitative easing abused by central banks.

Bitcoin highlights the advantages of quantitative hardening. The number of Bitcoins is limited, limited to 21 million units. For every 210,000 Bitcoins mined, the inflation of Bitcoin supply will be halved, and the value of Bitcoin will increase over time.

With bitcoin, you have a guarantee that the dollar will never give you: 1 bitcoin in 2020 will always equal 1 bitcoin in 2100.

Therefore, Bitcoin is an extraordinary hedging tool that can resist the huge currency inflation we are currently experiencing, and this inflation will continue in the coming months due to this economic crisis.

For centuries, gold has been regarded as the best valuable item, and compared with fiat currency, the advantages of gold are real.

However, gold cannot compete with Bitcoin, which is a reality that many people are discovering. Objectively speaking, Bitcoin is superior to gold in many ways: divisibility, portability, recognizability, scarcity …

Bitcoin is a better means of storing public value than gold.

Many Americans decided to buy bitcoin with a stimulus check of $ 1200 instead of gold, which proves that people’s awareness is constantly increasing.

This is also evidence of complete loss of confidence in the dollar.

5. Bitcoin reconciles individual and collective interests

The benefits of Bitcoin go far beyond these. Bitcoin is a great tool that allows millions of people around the world to participate. Bitcoin is helping Iranians protect themselves from the hyperinflation that is ravaging the country.

In Venezuela, Bitcoin is already a plan (first choice).

Bitcoin provides access to banks for millions of people who either cannot afford it or face the risk of assets being confiscated by a dictatorial government.

In Western countries, this reality is often overlooked. In the future, the application of Bitcoin as a payment method will erupt in Africa.

Bitcoin provides an opportunity for those who are turned away from the current monetary and financial system.

When you read this article, you should understand that another powerful aspect of Bitcoin is that it reconciles individual and collective factors. As an individual, Bitcoin is good for you:

Bitcoin is the best investment in the past decade, and the investment of US $ 1 in 2010 became US $ 90,000 by the end of 2019.

I often say that Bitcoin is not just a financial investment. This is a true fact. From all aspects, buying Bitcoin is an incredible investment.

Bitcoin will not only benefit you, but also benefit the collective, helping us build a fairer world for the future.

By buying Bitcoin and then holding it for as long as possible, you can support Bitcoin in the best possible way, enhancing its existence and legitimacy.

This gives millions of people around the world the opportunity to protect themselves from the hyperinflation and oppression of Venezuela, Iran, Lebanon and Zimbabwe.