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Life without bitcoin: one can watch as the value in the output of ones labor encoded in fiat decreases over time, punishing saving and devaluating our lives wor

Life without bitcoin: one can watch as the value in the output of ones labor encoded in fiat decreases over time, punishing saving and devaluating our lives work; or One can opt-out of this and store it in something that does not, and rewards saving. It also has the benefit of security, integrity, audit ability, censorship resistance, transferable over arbitrary communication channels, etc. Most folks live paycheck to paycheck, and so don’t feel savings inflation and the cruelty that this implies. This has been invented. If it didn’t exist now for some reason, it would significantly decrease quality of life — I would be powerless to watch my saving erode into nothing. I would be powerless when the state decided it wanted to adjust interest rates to be negative (again, attacking saving). I would be powerless when any state decided that another state should be disconnected from the legacy financial networks. I would be powerless when they payment card networks started enforcing morality de jour. It would be like being arrested - some liberty taken from the individual and make them beholden to the state. They call it being “orange pilled”. Once you get it, there is no other option to avoid growing poor slowly.

1917athrow 5y ago
> Once you get it, there is no other option to avoid growing poor slowly. So holding stock in companies that, I don't know, actually produce something isn't an alternative? That just doesn't pass the sniff test.
- randomhodler84 5y ago
  Stock is good too, any asset to escape fiat; but it’s the currency properties of bitcoin that have advantages over it - like 24/7 market. Not to mention portability. Transferability. Self-custody. The valuation of companies should reflect production, however any sensible extrapolations of thus in recent times are no different than speculation in cryptocurrencies. It’s all perception. That’s all money is — a shared delusion that something stores value.

1917athrow 5y ago

> Once you get it, there is no other option to avoid growing poor slowly. So holding stock in companies that, I don't know, actually produce something isn't an alternative? That just doesn't pass the sniff test.

randomhodler84 5y ago
Stock is good too, any asset to escape fiat; but it’s the currency properties of bitcoin that have advantages over it - like 24/7 market. Not to mention portability. Transferability. Self-custody. The valuation of companies should reflect production, however any sensible extrapolations of thus in recent times are no different than speculation in cryptocurrencies. It’s all perception. That’s all money is — a shared delusion that something stores value.