For those of you who still haven't heard of Bitcoin I want to encourage you to do some research and learn about it. It's funny because when I explain to people what Bitcoin is - it brings up a lot of questions people never thought to ask about the dollar and probably should've.

In short - Bitcoin is money. And I think of it as the next generation of money. As any historian will tell you things change. There was a time when shells were used as money and I'm sure most people now view that as archaic. One day dollars will give way to a new  form of money. I believe that day has come with the Bitcoin. This won't happen overnight, but in time I do believe it will happen. And if it doesn't happen with Bitcoin it will be with a different crypto-currency. So here are 5 reasons I believe in Bitcoin.

1. The world is catching onto the fiat currency scam.

The days of central banks controlling the masses by manipulating the value of their money are numbered. As older generations die off and newer generations turn to the internet for information the veil of secrecy about what central banks and governments are doing to people's money is torn away. As more and more people catch on to the way governments control populations with money it paves the way for future generations to choose form of money that provides a level playing field. Over the history of mankind we've painstakingly  moved closer to an ideology of equality and I believe this will happen with our money.

2. We don't want to surrender our conveniences for equality.

As equality comes into the monetary marketplace I believe people will continue to demand the conveniences they've grown a custom to. For example_ We're going to want to send money electronically so funds can be transferred instantly. Bitcoin enables us to transfer money electronically faster and more conveniently than ever. Bitcoin removes the friction created by central banks and governments, this leads to economic efficiencies. Those efficiencies in turn lead to increases in productivity and economic growth.

3. Supply and demand.

Whether we like it or not certain principles exist in this world that we're bound to. I believe supply and demand is one of these principals. Current monetary systems attempt and elude the principles of supply and demand by creating inflation. They increase the supply of money to "stimulate the economy". This leads to inflation bubbles. Those bubbles are then pushed from one market to the next. For example_ The stock bubble of the early 2000's became the housing bubble of the mid 2000's, which became the energy bubble of the late 2000's. Nobody wants to be the guy who gets stiffed with the counterfeit money. Sadly the general public ultimately absorbs this by having to work longer, harder, and more efficiently for the same amount of goods and services.

The Bitcoin allows people to have a stable and limited money supply. Since the number of Bitcoins that can ever exist is fixed there's no way for more Bitcoins to be magically counterfeited. In fact, the Bitcoin supply is likely to decrease overtime. This creates a condition where people are ultimately awarded by saving their money rather than spending it.

4. Lower transaction fees.

Because Bitcoin is not controlled by any government or central bank nobody has their hands in the pot. And without anyone with their hands in the pot the transaction fees to send and receive money are virtually zero. This represents an efficiency in the marketplace I believe consumers and merchants are already demanding.

5. Universal acceptance.

Since Bitcoin has the same value globally it can be accepted across borders without the friction of being converted to a local currency. Although governments will resist this idea - especially since it will become increasingly difficult for them to get their greedy little hands in the pot. It will ultimately win out because whether we like it or not we're moving rapidly toward a one world economy.

Of course Bitcoin is not without it's skeptics and it's challenges and I do acknowledge they are real - I do believe in time the best ideas win and Bitcoin is the best idea for money so far. If you have a question, agree, or disagree, leave your comments below.