How it started.

Today’s money is broken, most of us know it. Inflation erodes our savings and the cost of living continuously increases as the banks and government keep taking on more debt than they can afford with no means to ever repay it (also referred to as “printing money”). I grew tired of watching this cycle and felt trapped without a way out.

It's really sad to see the increasing struggle people go through, such as buying their first home. As they save money for a deposit, the required deposit keeps growing as the housing market keeps going up. The banks and governments flood the system with more dollars, diluting their value. This is inflation: more money in the system reduces its value, so it takes more dollars to buy the same thing. Similarly, in the housing market, when the money supply grows, the price of housing rises. Land being a scarce asset, its value holds against a dollar that is worth less as the market is flooded with an ever-increasing supply of dollars.

Unlike fiat currencies, Bitcoin is a deflationary asset with a strictly limited supply of 21 million coins, making it one of the world’s only assets with absolute scarcity, akin to gold or land but with a fixed supply. Approximately every four years, or every 210,000 blocks, the Bitcoin Halving event reduces the block reward for miners by half, slashing the rate of new Bitcoin issuance. This process, which continues until 2140 when the final fraction of Bitcoin is mined, ensures a predictable and diminishing inflation rate, enhancing Bitcoin’s scarcity over time.

Now, the other problem with money today is the lack of sovereignty. Banks can stop you from sending or receiving money as they please, like they did in Canada during the Freedom Convoy protest*.

The fiat system doesn't offer you sovereignty. You're tied to the control of banks and governments over their currency.
Bitcoin offers a solution to this problem as it doesn’t need an intermediary to function. Bitcoin is a decentralised system where no third party has control over your holdings, your transfers or deposits.

With Bitcoin you have absolute control.

The control is one of its greatest benefits which also comes with great responsibility. Absolute control means absolute self-accountability. Any errors that you might make while sending or setting up your Bitcoin wallet can cost you greatly, which is why it's very important to learn how to do it correctly.

That's how the idea of The Bitcoin Spot came to be. Most Bitcoin losses are due to user errors, whether it is during the set-up, a transfer, or simply a lack of knowledge. Starting a consultation business to teach people how to use, hold, and learn about Bitcoin could add real value to this space.

The Bitcoin Spot is mainly focused on providing consultation services to set you up for success in your Bitcoin journey, teaching you about Bitcoin and guiding you through a safe use and hardware setup, making sure you avoid the errors and scams that many people have fallen for.

If you do not wish to use the paid consultation services available, you can still have a look at the Learnings section in the menu above which offers lots of useful information, tools, and links to learn about Bitcoin for free.

The Bitcoin Spot aims to help many in their Bitcoin journey no matter which stage they're at.

*In 2022, under the Emergencies Act, Canadian banks froze around 210 accounts linked to "Freedom Convoy" truck drivers protesting vaccine mandates, totaling $7.8 million. Accounts tied to crowdfunding platforms were targeted. Most accounts were later unfrozen after protests ended. The actions, criticized for lacking due process, were part of a strategy to disrupt the protests. A court later ruled the Act's use illegal.

Disclaimer: The Bitcoin Spot is not a financial advisor. We provide general education and guidance on safely using and storing Bitcoin. We do not offer investment advice.

Consult a qualified financial professional before making decisions. We are not liable for any losses from using our services or information.