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(1) The sole reason Bitcoin exists is because all governments decide inflate the money supply by printing, and in doing so, they knowingly devalued the efforts

by dagaci 3y ago

(1) The sole reason Bitcoin exists is because all governments decide inflate the money supply by printing, and in doing so, they knowingly devalued the efforts and work of everyone who saved their money or relied on fixed income like a pension. (2) Just this May the USA decided to add 1.5 trillions of inflation on top of the already high levels of inflation people are already experiencing. And I can guarantee that they will do this again and again, in good years and in bad years, both democrats and republicans equally (look at the record, not what they say). (3) Bitcoin was explicitly created for these reasons, and it has _way_ over succeeded in its goal _financially_. (4) The other complaints you have are the fault of the government, they have purposely let the space become lawless in the hope that it would diminish the space, or that it would die by itself, but the problem with this is (1), (2) and (3)

lordfrito 3y ago
(1) agreed this is why it was created (2) not sure what you mean by 1.5 trillions of inflation, but your point seems to be that inflation is bad. I disagree. High inflation is for sure bad, but zero inflation is also bad. Capital needs to be put to work, inflation forces people with capital to use it (productively) or lose it. (3) I don't agree that bitcoin has "way over succeeded", seems like an opinion and not a fact. (4) It's not the fault of the US Government that Bitcoin is lawless. It was designed that way from the get go. The government can't stop people from sending and receiving bitcoin on the blockchain. Why would anyone want to trade their ideologically pure bitcoin for those filthy fiat dollars they've been so desperate to escape from? Bitcoin maximalists say it's all about the bitcoin, but at the end of the day they want a pathway into the USD system. I don't see any real arguments here on how this is the future of finance.
- tmn 3y ago
  There is a big difference between bitcoin having a relevant future. And it becoming 'the' future of finance

by dagaci 3y ago

lordfrito 3y ago

(1) agreed this is why it was created (2) not sure what you mean by 1.5 trillions of inflation, but your point seems to be that inflation is bad. I disagree. High inflation is for sure bad, but zero inflation is also bad. Capital needs to be put to work, inflation forces people with capital to use it (productively) or lose it. (3) I don't agree that bitcoin has "way over succeeded", seems like an opinion and not a fact. (4) It's not the fault of the US Government that Bitcoin is lawless. It was designed that way from the get go. The government can't stop people from sending and receiving bitcoin on the blockchain. Why would anyone want to trade their ideologically pure bitcoin for those filthy fiat dollars they've been so desperate to escape from? Bitcoin maximalists say it's all about the bitcoin, but at the end of the day they want a pathway into the USD system. I don't see any real arguments here on how this is the future of finance.

tmn 3y ago
There is a big difference between bitcoin having a relevant future. And it becoming 'the' future of finance