Welcome back. I hope you are doing well these days despite everything that is going on in the world around us. I don't know if you have seen the latest inflation numbers released on Tuesday.
Inflation was still hot in August, coming in at an 8.3 percent clip. Inflation hasn't subsided, and it doesn't look like it is going away anytime soon. If you have been to the grocery store lately or filled up your car, you know that your personal inflation rate is much higher than what they are reporting.
As a business owner, you feel the ravages of inflation every day. You understand the strain that it puts on your business to stay profitable. Energy bills are up, the cost of goods is up, and labor costs are skyrocketing for the people that want to work. It is almost impossible to run a business these days.
Even if you can eke out a profit, you still have to contend that the money you are earning and saving is a depreciating asset, just like your car or office equipment. The fact that your money is losing value as you hold it in your bank account is by design.
The Federal Government wants you to spend your money because they have fostered a consumer economy that will fall apart if people stopped buy STUFF, especially cheap goods from China.
Did you know consumer spending makes up 70 percent of the GDP in America? This is why they debase the currency. You are being manipulated into spending your money or investing it in the casino we call the stock market. Most of us are not stock trading professionals that can pick the right stocks. We rely on portfolio managers to do that for us or invest in the companies we know. Sometimes this can work out for you, and sometimes it won't. When you factor in the fees, you must pay and the inflation rate, are you generating a return?
What if there was a way to save in a money that can't be inflated away and doesn't need an army of lawyers and portfolio managers telling what to do? Luckily we have Bitcoin.
Bitcoin gives your business the ability to save in a money that will hold its value for a long time. There are only 21M Bitcoin that will ever be in circulation, which is ensured by a protocol that can not be tampered with. The 21M supply cap is set in stone. This is the monetary policy of Bitcoin. You don't have to worry about the supply being manipulated by some third party. You can't say that about the dollar.
If you are worried about volatility, please understand that Bitcoin is still a young technology with plenty of room to grow. It has only been around since 2009 but has been up and operating for 99.9 percent of the time in its short history. The Bitcoin network, on September 12, 2022, hit a significant milestone. Bitcoin the network has been operating for 5,000 straight (13.69 years) days with no problems.
Until more people adopt Bitcoin, the price will be volatile in short to medium term. This still doesn't change the fact that once you own Bitcoin, it is yours. 1 Bitcoin=1 Bitcoin. This will never change. Don't let the volatility discourage you, as it is a natural phenomenon.
It doesn't take much to start accepting Bitcoin for your goods and service. Many companies enable you to send Bitcoin invoices or receive Bitcoin in person. Here are a few that are very user-friendly.
If you want to get basic, you can send your Bitcoin address to have your payment sent. Once you accept Bitcoin payment, you will never want to return to the old way of doing business. Bitcoin is a monetary upgrade over the dollar. Make the change today!
If you have questions about how Bitcoin can help your small business, please don't hesitate to send me an email at [email protected]
Please consider donating some Bitcoin to keep this blog going! Anything helps!