3 ms·
After all these years, people still aren’t accepting the basics of this argument. Using nation-backed currencies, inflation can speed up rapidly — and often do
by rib3ye 1y ago
After all these years, people still aren’t accepting the basics of this argument.
Using nation-backed currencies, inflation can speed up rapidly — and often does. Money becomes cheaper, and it can lead to economic growth if done well, or economic destruction if done poorly.
In a Bitcoin-dominated world, the supply rate slows down as programmed, so it ends up being deflationary and winners take all.
So the only factor that decides if Bitcoin is a bubble is whether we take policy action to ban it as an investment product and method of exchange, or we let it replace money on a macro level.
To the Americans here: given recent inflation and increasing deficits, the time to decide is NOW. In my view, if you care about 1) national sovereignty or 2) income inequality, the answer is clear that we must take a much stronger step towards censoring Bitcoin on a banking and financial sector level.
- KetoManx64 1y agoBitcoin is the solution to income inequality and taking back national sovereignty from central bankers. Inflation is also a silent, invisible tax on the poor. It quietly eats away at their savings and buying power and ensures they will always be poor. Bitcoin is also the solution to perpetual war. The only reason that WW2 was able to go on for so long was due to all the Western countries leaving the gold standard, and it is the reason that we have perpetual wars in the modern world. Governments just issue more bonds and when those don't sell, they just ask the central banks to buy their bonds. Bitcoin forces countries back into sane policies.
- rib3ye 1y agoLet me say it another way — When the pioneers of the Internet started working on the first protocols, MANY of them thought it would lead to a new area of peace and free-thought. In 2025, many of them now just believe they created a corporate surveillance state. As a former bitcoiner, I challenge any pro-crypto person to start imaging ways it could all go wrong. Or at least make a list of three possible downsides?
- KetoManx64 1y agoIt totally can. Governments around the world are trying their damnest to squeeze and crush as many of their citizens liberties as they possibly can. The European Central Bank is poised to push out the digital Euro that will track every single transaction you make and can be set to burn itself in your bank account if you post an anti immigration meme on Facebook. That is the direction the world is going. The only way we are going to protect outselves is ensure that our monetary system is a decentralized, peer to peer, self-governed and un-debankable, so that Corrupt governments do not make us financial slaves for the next 1000 years like in George Orwell's 1984.