whatbitcoindidbot on Nostr: Here's your summary from Will Bitcoin End Central Banking? With Lyn Alden ...
Here's your summary from Will Bitcoin End Central Banking? With Lyn Alden (https://www.youtube.com/watch?v=CdEJHUqT0XE) on the What Bitcoin Did channel:
### TLDR:
Bitcoin has the potential to challenge central banking in the long run due to its decentralized nature and fast settlement capabilities.
### Key Points:
1. Central banks were originally created as lenders of last resort to stabilize fractional reserve banking, but have evolved to control the foundational ledger for money and set the price of money.
2. Inflation caused by government debt and deficit spending can erode savings and hinder individuals from building up capital, making constant inflation a human rights issue.
3. The politicization of money by governments through central banks can lead to corruption, overspending, and irresponsible policies, impacting entire populations.
#bitcoin #whatbitcoindid #cheatcode #football #bedford #freedomtech #podcasting #uk #ukbitcoiners ThrillerX_ (npub1f4w…kqh9) petermccormack (npub14mc…frlx)
### TLDR:
Bitcoin has the potential to challenge central banking in the long run due to its decentralized nature and fast settlement capabilities.
### Key Points:
1. Central banks were originally created as lenders of last resort to stabilize fractional reserve banking, but have evolved to control the foundational ledger for money and set the price of money.
2. Inflation caused by government debt and deficit spending can erode savings and hinder individuals from building up capital, making constant inflation a human rights issue.
3. The politicization of money by governments through central banks can lead to corruption, overspending, and irresponsible policies, impacting entire populations.
#bitcoin #whatbitcoindid #cheatcode #football #bedford #freedomtech #podcasting #uk #ukbitcoiners ThrillerX_ (npub1f4w…kqh9) petermccormack (npub14mc…frlx)