Fiat currencies that are regulated by governments and issued by central banks are still needed for medium of exchange, and they’ll always be used.
Companies and people are not doing well because central banks are taking money out of the economy.
Monetary issuance in 2023 fell for the first time. Why? Because the central banks realized that they had printed so much money that prices in the past had gone up, creating today’s inflation.
The inflation of 2023 was caused by the Central Banks in previous years to self-finance the governments.
I’m sure you remember that during COVID the US offered checks for thousands of euros to the population. But they didn’t have that money, they had to print it.
How do they now discreetly take money out of the economy? They raise interest rates, what happens? If the banks make a profit, they’ll have to hand over part of that surplus to the banks instead of taking in money. What does that do? Inflation goes down. In a few months’ time, the European Central Bank will be clapping itself on the back that it has reduced inflation when this shit is all manipulated!
Crypto takes this power to banks. Bitcoin is, and good cryptocurrencies must be:
- absolutely scarce: 21M cap, forever;
- censorship-resistant: a valid signature is valid, regardless of opinion;
- non-custodial: can be held in your brain
- divisible: down to the sat;
- global: not reliant on any geographical jurisdiction;
- decentralized: only users, no admins
- portable: large amounts can be moved cheaply, quickly, anywhere;
- ethical: not someone’s securit
- transparent: public ledger, auditable by anyone
- pseudonymous: interaction via addresses, not identities;
Governments have to pay bills. Since they don’t produce money, they have to manufacture it.
I still belive, in decades of time, BTC will continue to be the best, most versatile store of value asset known to mankind.
submitted by /u/Extreme_Nectarine_29
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