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9/29/17 at 05:53 AM 0 Comments

How to Earn Bitcoin and Accumulate Assets: Increase Your Knowledge First

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There are ways to earn and build your wealth without collecting U.S. dollars or any other national currency, then stuffing them in your mattress. If this sounds ludicrous as an alternative, consider that many people did this, primarily because they didn’t trust banks to keep track of and preserve what little money they had.

A similar frame of mind is driving people to choose financial assets of a different sort, a “currency” that doesn’t have a physical status but does represent real wealth. Of course, “real wealth” in this instance means credit for having assets that can be used to purchase goods and services. As one fellow who weathered the Great Depression as a teenager has emphasized, “Any asset is only worth what you can get for it from another person.”

The Battle Over Currency

Call it what you want. Use any phrase that applies to discussions and disputes about money, including “currency wars.” If you want to build financial assets, if you’re going to focus on “earn Bitcoin” it’s essential to understand details about how currency and global finance works. If you took the time to look at the history of this battle, you’d see there was a serious problem in the 1920s that lasted through the mid-1930s. Most people know about the Great Depression in the U.S. but they don’t understand how this serious issue affected countries around the world.

Other “wars” occurred as time passed, with one of the most distressing taking place now! The root of this problem has been identified by many veteran observers as having two parts: the removal of the gold standard backing the U.S. dollar and the accumulation of wealth in a few hands, both in the United States and elsewhere on the planet.

Some of those same observers of global finance are now sounding the warning bell about the end of the U.S. dollar as a currency recognized around the world as a “standard” for financial transactions. Entire books can be written on this subject alone, and already have been. But, this will be one of the most important factors for you as you learn how to earn Bitcoin and establish your own alternative to accumulated wealth.

It’s Not So New

Two or three years ago, someone might have asked you if you’ve heard of Bitcoin, and you may have answered, “No.” But, in 2018, there’s a good chance you’ve not only heard about this idea, but have also started reading about it as well. Here are a few basic elements you must understand if you truly want to try building your financial assets this way. Bitcoin is a digital currency, meaning you won’t “Bitcoin” bills like you’d find dollar bills. It’s also decentralized, meaning it’s not held in one location or by one government or nation. (Dollars are controlled by the Federal Reserve.)

There are three basic ways to benefit from this alternative currency, which you can touch on briefly here:

  • You can actually own Bitcoin, holding onto it as an asset on its own
  • You can trade it as you would any commodity, on an exchange
  • You can trade on a margin, a bit more complicated but realistic

Because it’s digital, you send and receive it using the Internet. It is currency, in that you can use it to buy products and services. But, remember that statement by the guy who grew up in the 1920s and 1930s: You have to find someone who will accept it for Bitcoin to have real worth.

CP Blogs do not necessarily reflect the views of The Christian Post. Opinions expressed are solely those of the author(s).