How Bitcoin Will Save Millennials
All generations have a rich nostalgia for the decade of their childhood. Our coming of age is our purest moment. And for millennials, it’s probably the ’90s that it’s best summed up.
The 90s are milk and honey for us. We remain so fond of the music, the TV and movie treasures, our early AOL experiences, and the typical middle-class comforts many of us have known, whether we belong to the lower or upper levels of this industry.
Although I was not born in the United States and immigrated here from Eastern Europe in the early 90s, I remember America feeling safe and my future was full of possibilities. ‘hope. America was the dominant force in the world. The 1990s were the height of American power and influence. Everyone felt proud to be American.
Millennials didn’t get it back then, but the ’90s ushered in the most important information age in history, the birth of the internet and the digitization of the world. The first oligarchs were born from software and technology that would eventually affect all aspects of daily life and businesses.
But the age of innocence suddenly shattered before our eyes.
Many of us were in high school or just starting out in college when 9/11 happened, marking what I believe was the breaking point between American domination and security in the post 9/11 world. American vulnerability. America’s romantic phase for millennials was over and our country entered a state of perpetual security to feel protected. It was the first of several federal crises that we would face and which imprinted on our training as adults.
Our deepest vulnerabilities as a nation were quickly laid bare in the financial system. There was a time when the idea of ââa collapse of the American financial system like it did in 2008 seemed impossible. We learned that we were no longer safe from threats to national security, nor were we safe from a massive explosion of bubbles. And due to the lack of financial literacy in America, my generation failed to realize that the government’s response to this explosion was going to steal our future.
The problems started long before we were born, but as we came of age America plunged more and more into excessive borrowing, regulations and taxes, all of which stunted economic growth rather than allowed it to prosper. , and have increasingly focused on the millennium. generation.
America has moved from the paradigm of economic freedom to the paradigm of government spending. Our generation bears the heaviest burden of declining freedom and economic prosperity in the nation, and the glaring reason is our nation’s spiraling debt.
The average millennial graduate is heavily in debt and begins their working life economically five steps behind. If you study the history of fiat money, you will understand why the costs of a university education have skyrocketed. Cheap government easy money guaranteed loans printed out of oblivion increase the cost of your books, tuition, and college dorms, making degrees worthless compared to the outrageous cost of attending college. most universities.
He is perhaps the most ardent critic of Bitcoin, but at least Peter Schiff gets this.
Currently, our student loan debt stands at over $ 1.7 trillion, which is far more than credit card debt and mortgage debt combined.
Millennials are the most educated generation, but have the least amount of wealth. Millennials have a record number of members who are unemployed, underemployed, in debt and whose standard of living is below that of their parents. It’s no surprise that they often share sad but true memes like these below on their social media pages, their tech vehicles for vocal rebellion.
And sorry, Baby Boomers and Generation X, but we’re in that position mainly because of the policies of those you elected. Thanks to the generations that came before us, we are responsible for the bills that funded expensive compensation programs and those that bailed out banks during the last financial crisis. Previous generations have mortgaged the future of their children and grandchildren by taking on more and more debt to pay for these benefits, some of which we will surely not be able to take advantage of.
Almost half of federal spending goes to Medicare and Social Security. Now add billions of dollars in unfunded federal, state and local liabilities and the price for the future has become insurmountable. You certainly can’t tax us for the money; we do not earn enough or are not paid enough. So the government resorted to stealing Peter to pay Paul, printing money to pay off the debt, and preventing Millennials from affording what their parents did. And one way or another, a lot of my college graduate peers seem to think the debt ceiling can keep going up forever.
We have been deprived of our ability to save, to work only one job that does not require us to risk our money on coins and stocks, and some of my peers no longer even see the possibility of having a family because it’s just not affordable. How sad for our ancient nation.
One thing we desperately need and that is open access to an asset that is appreciating in value and not being manipulated by insiders out of reach. But as Tucker Carlson pointed out on a recent show, after being orange-pounded by Michael Saylor, young people have been excluded from the traditional systems of wealth creation in our economy.
When governments put in place multi-trillion dollar spending programs, the money has to come from somewhere (although some politicians around the world today take no responsibility for explaining how to pay for their programs. as evidenced here).
Here in the United States, our government has shown that no matter what color is in power, it will look to inflation to finance debt with more debt and keep making promises of free meals with no opportunity costs.
Yet from all of this arises a brilliant orange light of hope.
The future is being picked up by resilient and expressive millennials and it’s being picked up by Bitcoin. We learn economic theory, not just swallow the Keynesian pill that every university gives out. We engage in the political process by holding leaders accountable for the accumulation of debt and fighting to elect pro-Bitcoin candidates. In 2022 and beyond, we cannot bear to experience another economic crisis without a liferaft.
We are ushering in a brighter future filled with hope through money technology.
Bitcoin is the free market expression of all of the American ideologies we grew up with: freedom, individualism, and purity. It allowed us to rethink the future without worrying too much about how we’re going to pay for it.
Millennials who took their $ 1,200 stimulus check and invested it instead of spending it on Amazon now have over $ 10,000 because they took a risk in something that a large chunk of Americans still consider it a Ponzi scheme. Some of them have turned a few thousand into deep six digits over the past few years. It is the epitome of free markets.
Bitcoin is such a pure example of American ideology that the Chinese banned it. And now that we have it, Millennials can take the orange pill from their parents, grandparents and children to project our technological freedom around the world.
Through absolute digital scarcity and decentralization, Bitcoin offers young people not only a savings technology, but also a way to understand and engage in the economic system as a whole, and the ability to help bridge the gap. the yawning wealth gap created by fiat debt.
This is our chance to fix not only money, but everything money touches, from education and housing costs that have skyrocketed due to moral hazards like government guaranteed loans, to to our disaster fiduciary food system.
Even Millennials who can’t agree on other things, from awakening to conservatism, will all come to the conclusion that Bitcoin is virtuous, goal-oriented, and extremely necessary.
Software is not political, it is not capable of manipulation or fraud. It’s like that. It’s math. It’s authentic, and if there’s one word Millennials care about more than anything in their culture, it’s authenticity.
Bitcoin is the only thing that can save us from the debt we have inherited, so that we can build a new world order on the basis of freedom, value and security.
This is a guest article by Natalie Brunell. The opinions expressed are entirely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.