One day while browsing the internet I learned about a new form of money. Networks of computers called miners compete to solve complex puzzles and as a reward the winner would receive a Bitcoin. Each puzzle build upon the next. This is the blockchain. Block after block, year after year the decentralized miners became the largest and the most secure network in the world. Bitcoin was a digital currency secured with cryptology on the Bitcoin Network. There will only be 21 million Bitcoins created.

Compared to Bitcoin, there is an unending supply of dollars created by a centralized federal bank. This is fait currency. Each year for the last 50 plus years the dollar has become less and less valuable. Back in the 1970s you could buy a three bedroom family home in Sunnyvale California, the heart of Silicon Valley for only 20,000 dollars. This same house today is worth millions of dollars. By just saving dollars over years, I’m losing value to inflation.

I saved $1000 put it in the bank. Every month after rent, utilities, food and other extra fun stuff, I would put every extra dollar to buying Bitcoin. Over the years the value of Bitcoin grew. In over 12 years of the Bitcoin Network creating and securing more and more Bitcoin, a Bitcoin went from $1 a coin to  over $50,000 a coin. I was just dollar cost averaging into Bitcoin through all the ups and downs. 

Using a special credit card I could hold Bitcoin and spend out in dollars as I needed. My employer decided to change over to Bitcoin. I asked my landlord if they would take rent in Bitcoin. I could buy things online in Bitcoin and overtime stores like Costco, Walmart and Best Buy allowed purchases in Bitcoin. The economy was turning from fait currency to a crypto currency economy. 

So here I am. Long into to the 2020s, I hold keys for my Bitcoin. I have accounts that pay interest in Bitcoin. I secure my credit card with Bitcoin. I pay just about everything in Bitcoin. Dollars are rarely used. That is how I lost $1000 with Bitcoin. $1000 was my plan A and Bitcoin became my plan B.

I'll see you in the future,
Chad