3 ms·
This ignores the positive case that bitcoin saves lives, and thus seems like a dishonest argument. Would it save more lives than it would end, if it were to re
by javert 4y ago
This ignores the positive case that bitcoin saves lives, and thus seems like a dishonest argument.
Would it save more lives than it would end, if it were to replace fiat currency? I have no doubt that the answer is overwhelmingly "yes." The fiat system grossly distorts all economic activity.
A few examples. The fiat system is what allows the US government to pursue endless wars and to generally expand without bound. The fiat system that is allowing the uber wealthy to acquire all real estate in the US and turn us into a nation of renters. The fiat system causes stocks (and all other assets, in fact) to be a store of wealth instead of an investment, totally distorting stock valuations and thus breaking the stock market as a measurement of the future earnings of companies. The fiat system makes it impossible to store wealth without being a speculator.