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Why Bitcoin is the Path to Economic Stability

Bitcoin’s reliability is leading the world on a path towards greater economic stability.

Tomer Strolight
Tomer Strolight
Jun 21, 2022June 21, 20223 min read3 minutes read
Audio narration

There is No Reliable Stability in National Currencies

In 2021, the Venezuelan Bolivar lost 99% of its value against the U.S. dollar. Even the British Pound experienced 17% volatility in ups-and-downs relative to the U.S. dollar in the same period.

In fact, when it comes to how they function, national currencies offer very little security, usability, predictability, and, indeed, stability:

  • None offer much predictability of their supply — and many, including the dollar, have seen massive supply increases in recent times.

  • None are entirely resistant from theft by crooks, or seizure from authorities.

  • None are fully permission-less — regulations exist that require owners to identify themselves and declare their intended uses.

  • All of them operate only within specific jurisdictions.

  • And none can have their supply verified independently — it is doubtful if even the authorities in charge of them know what supply exists.

In summary, national currencies are not very stable at all.

Why Bitcoin?

Why Bitcoin?

This article is an excerpt from the book “Why Bitcoin?” — a collection of 27 short essays exploring the “why” behind Bitcoin.

Yet, Bitcoin is Accused of Being Unstable

“Bitcoin is extremely volatile” claim journalists, economists and bankers. It is no wonder that they draw these conclusions when judging Bitcoin by the standard of unstable national currencies.

Consider, however, if you were on a boat that was being tossed about by rough seas and were looking at a lighthouse on the shore. That lighthouse’s position would appear “extremely volatile” — despite the fact that the lighthouse was perfectly stable.

Here is why Bitcoin is actually like that lighthouse.

Bitcoin is Profoundly Stable

Every detail in Bitcoin is the very essence of stability. No matter what the world has thrown at it, Bitcoin has kept all its promises:

  • It has issued a precisely predictable supply exactly according to schedule.

  • Its security has never been breached.

  • It has allowed anyone in the world to use Bitcoin.

  • It has allowed owners to spend their coins without restrictions.

  • It has allowed anyone in the world with a basic computer to verify its supply for themselves — without having to trust anybody else.

There have been no exceptions. Bitcoin is therefore extremely stable.

Bitcoin’s Adoption is a Migration Towards Stability

When critics call Bitcoin volatile, it is not mean to be a compliment. They are implying that stability is preferable to volatility. This much is correct. They are just mistaken about what stability is. Bitcoin’s incredible stability and reliability is precisely what is attracting ever-growing numbers of people, corporations, institutions and governments to adopt it to ever-greater degrees.

As Bitcoin’s adoption increases, its value, as measured in dollars, rises profoundly — albeit with wild short-term fluctuations in its dollar-denominated price.

But there is nothing about Bitcoin’s actual nature that is fluctuating. Just like a lighthouse, Bitcoin remains perfectly stable.

In light of all this, it is no surprise that Bitcoin is increasingly being chosen in place of national currencies. Bitcoin’s steady and unbreakable assurances give the world a standard upon which we can trade with each other — across any distance, in any amount, and over any period of time.

Bitcoin’s reliability is leading the world on a path towards greater economic stability.

Tomer Strolight

Tomer Strolight

Tomer Strolight is Editor-in-Chief at Swan Bitcoin. He completed bachelors and masters degrees at Toronto’s Schulich School of Business. Tomer spent 25 years operating businesses in digital media and private equity before turning his attention full time to Bitcoin. Tomer wrote the book “Why Bitcoin?” a collection of 27 short articles each explaining a different facet of this revolutionary new monetary system. Tomer also wrote and narrated the short film “Bitcoin Is Generational Wealth”. He has appeared on many Bitcoin podcasts including What Bitcoin Did, The Stephan Livera Podcast, Bitcoin Rapid Fire, Twice Bitten, the Bitcoin Matrix and many more.

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