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We need an uninflatable store of value more than anything, which Bitcoin is. Think of how much unnecessary transacting and consumption is going on right now to

• SantalBlush 6y ago
  >We need an uninflatable store of value more than anything People keep repeating this as if it's a well known truth, and I'm wondering where they came up with the idea. Why are we to believe that inflation is the source of our current economic woes?
  • briefcomment 6y ago
    Do you feel like you're getting the appropriate share of money printing needed to maintain your purchasing power? Don't the really desirable assets, like the best land and houses, and the best education, get increasingly more expensive, relative to your purchasing power? Certainly someone is gobbling up those dollars. I don't think it's most people though.
    • SantalBlush 6y ago
      That isn't really how it works. Banks do not "print money," they expand the money supply through loans. When interest rates are low, savers move their existing money away from assets like bonds toward higher yielding assets like stock and real estate. If the money supply were to suddenly shrink, the average person would not become richer; that added value would be concentrated in fewer hands. That's basically what is happening with bitcoin.