3 ms·
We seem to agree about 'crypto'. What we don't agree on is that you think Bitcoin is 'crypto'. Bitcoin is something else. It isn't pushed by a company selling s
by sparkie 5y ago
We seem to agree about 'crypto'. What we don't agree on is that you think Bitcoin is 'crypto'. Bitcoin is something else. It isn't pushed by a company selling snake-oil. It doesn't have a CEO. It's marketing budget is entirely provided by its users, and most importantly, nobody can ever inflate the supply of bitcoin beyond the predetermined release schedule. 21M bitcoin were set in stone when it was released. All 'crypto' is inflation, because it is created in a world where bitcoin, the fix, already exists.
> Tell me, how do cryptocurrencies benefit fixed-wage earners over "early recievers of new money"?
Again, not 'crypto', but bitcoin. You won't be able to grasp it until you separate these out.
Bitcoin allows people to save without their savings being deliberately debased.
Wage-workers are the people who need this most. They can't just throw money at stocks and shares to try and outpace inflation. If prices, in dollars are going to double in 9 years, how is a wage-worker supposed to save up to get a deposit for a mortgage when the value of what they've tried to save it is slashed in half?
Bitcoin, on the other hand, has seen a doubling of purchasing power on average over any 4 years of its history, and will likely continue if fiat money continues to devalue (as it certainly will with the current clowns in charge.)
w.r.t volatility, this does not matter if your goal is to save over an extended time. Bitcoin is volatile month to month, and between years, but there is absolutely no question about the way it trends over the long run. It's clear that holding dollars is a fools errand.
https://usdsat.com https://usdsat.com