For Black America, Bitcoin is hope, Bitcoin is change

Bitcoin stands for monetary freedom and thus is a new and viable solution to bridge the wealth gap. Introduction This article is designed to address internal risk areas in the African American household economy, provide realistic mitigation strategies, and outline why I believe Bitcoin will be a permanent generational solution to the racial wealth gap. I will use Michael Saylor's "harder, smarter, faster, stronger" themes in my own voice. I believe this is the best introduction to Bitcoin for my target audience as they are unlikely to be exposed to Saylor's ideas and thoughts. Conspicuous consumption The theme of Black American culture resonated with the quest for freedom for generations. The situation of the informal economy has generally been problematic. Our history is full of limited opportunities and concerted efforts to suppress our economic growth. But while there is plenty of data on external negative forces, there are also internal negative forces at work. A 2007 study by Charles, Hurst, and Roussanov examined the concept of consumerism and how it manifests itself in the American home through ethnicity. They remembered the concept of "conspicuous consumption" introduced by the economist Thorstein Veblen in 1899. This idea is defined as the ultra-rich buying for a purpose other than to show their economic power. While Veblen focused on the wealthy, the trio examined ordinary households and their own version of "visual consumption," which rated goods and services according to their ability to clearly convey a sense of economic status to a stranger. Using data from the Consumer Expenditure Survey (CEX) from 1986 to 2002, they found that black and Hispanic Americans spent about 30% of their income on visible goods, and that all races were broadly comparable. regarding consumables. These numbers, while certainly dated, are still grounds for research. Looking at 2019 CEX Data, Black Americans Are Closed

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