October 9, 2023
Duration: 22 minutes
NOTE: The events mentioned have passed. You can access the free Bitcoin Beginner’s Blueprint masterclass here.
We are live! I had to get my setup just right, so forgive me for being a few minutes late. But I’ve got my pop filter up, and it’s a beautiful day. I’m finally back home after being on the road for a while, and it’s been a lot. So I’m excited to be here in the best place and space with good visuals.
Let me know in the chat if you can hear and see me. I see myself now, but last time, I went on for a good five minutes before realizing nobody could hear me but me. So I want to make sure I’m live and direct—and I think I am.
Let’s get this started!
Welcome to Myth Buster Mondays
That’s a bit of a tongue twister! In this series, I take you through a journey of my book, Digital Money Demystified, which will be available in both physical and digital formats on October 24.
I have two exciting virtual launch party options for you:
Main Event: October 24, 2023 at 8 PM ET
RSVP: THIS EVENT HAS PASSED
You don’t want to miss it! There will be special guests, amazing giveaways, and an opportunity to celebrate and level up your crypto knowledge. My goal is to take you from crypto-curious to crypto-confident and ultimately crypto-serious.
This isn’t something that might happen. We are already living in the future of money, wealth, innovation, and business. I want to help you set a solid foundation—that’s what my book is for, and that’s the purpose of these weekly Digital Money Demystified sessions.
Each time we meet, I’ll share insights from the book, connect it to my experiences, answer any questions that have come up, and keep the conversation moving forward.
Understanding Money: The Foundation of This Week’s Topic
If you’re ready to go and grow, drop a “+1” in the chat! Today, we’re digging into the fabric of money itself—specifically, the U.S. dollar and its role in the global economy.
I live in the U.S., where the dollar is not only our national currency but also the world’s reserve currency. However, that status is weakening. Every time we face a government shutdown, a credit downgrade (which happened earlier this year), or a banking failure, confidence in the system erodes.
This brings us to a fundamental question: What happens when people gain the ability to exchange value on a peer-to-peer basis, without relying on a central authority?
For those in the U.S. or other relatively stable economies, you might wonder:
Why have an alternative currency like Bitcoin or Ethereum?
Why use stablecoins like USDC or Tether?
Why engage with decentralized finance (DeFi) when traditional banking “works just fine”?
But does it? That’s the question we need to ask.
If you’ve ever wondered about the difference between the money in your wallet and digital gold on the blockchain, this episode is for you.
Fiat Currency vs. Bitcoin: Understanding the Differences
Let’s start with the basics. The U.S. dollar, like other fiat currencies, is government-issued. Historically, it was backed by gold, but that changed when we moved off the gold standard in the 1970s.
Fiat money is now based solely on the “full faith and credit” of the U.S. government. But what happens when the government struggles to pay its obligations? When we see economic crises, inflation, or banking collapses, the trust in fiat weakens.
This is where Bitcoin comes in.
Bitcoin: A New Monetary System
Bitcoin was created in response to the 2008 financial crisis, launching on January 3, 2009 as a transparent, decentralized, and cryptographically secure alternative to traditional currencies.
Here’s how it differs from fiat currency:
Decentralization
Unlike government-issued money controlled by central banks, Bitcoin operates on a decentralized network.
The Bitcoin blockchain is a public ledger that tracks transactions without needing a central authority.
Think of it like a group text: even if one person deletes the conversation, the record still exists on other participants' devices.
Limited Supply
Bitcoin’s total supply is capped at 21 million coins, making it scarce by design.
Compare this to fiat currency, which governments can print endlessly. As Alan Greenspan once said, the U.S. will never default on its debt because it can always print more dollars. But printing more money leads to inflation and weakens purchasing power over time.
Transparency & Security
Every Bitcoin transaction is recorded on a public ledger (blockchain), making it verifiable and immutable.
Transactions are secured through cryptography, which has been used for decades to encrypt messages and protect sensitive data.
The 2008 Financial Crisis & Bitcoin’s Genesis Block
Bitcoin wasn’t a random invention—it was created as a direct response to the failures of the traditional financial system. The very first block in Bitcoin’s blockchain, the Genesis Block, contains this embedded message:
“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”
This was more than just a timestamp—it was a statement of purpose. Bitcoin was built for times like these—times of economic instability, financial uncertainty, and excessive central control.
Why This Matters Today
We are living in a time of economic crises, wars, inflation, and increasing financial control by both governments and corporations. Understanding digital money is not just about speculation or meme coins—it’s about financial sovereignty.
If you don’t start learning this language today, it may be too late by the time you need to understand it. Governments are already laying the groundwork for central bank digital currencies (CBDCs), which could provide benefits like faster payments but also raise concerns about financial surveillance and control.
Take China, for example—they are ahead in CBDC development. The U.S. is moving in a similar direction with FedNow, which isn’t a cryptocurrency but provides the infrastructure to bypass commercial banks and allow direct government accounts. There are pros and cons to this, and you need to be informed to engage in the debate.
Next Steps: Continue Your Learning Journey
If you’re eager to explore Bitcoin and digital currencies further, I have a free masterclass for you: Bitcoin Beginner’s Blueprint.
Sign Up Here: Bitcoin Beginner’s Blueprint ON DEMAND
You’ll also find details for my virtual book launch party on October 24!
For an elevated experience, including:
A live training session with me
An autographed copy of Digital Money Demystified
A fireside chat with financial expert Lynnette Khalfani-Cox on launch eve (October 23)
Visit: advantageevans.com/activate for all the details!
Final Thoughts
This wraps up today’s Myth Buster Mondays session. Make sure to:
✔️ Subscribe for more episodes
✔️ Watch the Bitcoin Beginner’s Blueprint masterclass
✔️ Join me next Monday for another myth-busting session!
I appreciate you all—until next time, be good to yourself and others. Take care!
Digital Money Demystified now available at DigitalMoneyDemystified.com
Share this post