Wade on Nostr: Bitcoin is a lot of different things to different people. To me bitcoin is a solution ...
Bitcoin is a lot of different things to different people. To me bitcoin is a solution to a lot of flaws in our society. Like what you might ask. Well, let me unload on you. Today lets talk homes.
Homes should depreciate over time. When Congress instituted the Federal Reserve Act of 1913 people holding dollars quickly realized that the dollar could be debased to infinity so they ran to the only scarce asset they could find. For over a century people have been stashing their wealth in property and since it is finite, this sent the price soaring.
People who once utilized land for its utility value farming and ranching now had the wealthy who would not work the land push them out. Income and capital gains taxes destroyed these nature lovers tossing their families off the lands as they could not afford to pay the inheritence tax on the lands.
But thank God for the banks. They began offering loans so that people could continue to buy homes. This put people in debt servitude. Today people must work for 30 years without moving or taking any risks that might endanger their employment or the home is returned to the banks and all the while they charge you an interest fee on a value distorted through a money printer printing to infinity.
How does bitcoin solve for this? Bitcoin returns us to absolute sound money where the value can never be inflated. Over time it will continue its journey repricing all asset in bitcoin. That $50k home in 1970 that has a bad roof, bad foundation, and mold in the walls should not cost $500k today. Maybe it should be worth $30k. Bitcoin returns that $470k in value by removing the monetary premium from real estate and returning it to the money where it belongs. The beneficiaries of this shift are those who recognize it before the institutions are able to allocate to it.
Our great great grandparents stole from our great grandparents. Our great grandparents stole from our grandparents. Our grandparents stole from our parents and our parents stole from us. Now we either need to fix this mess and accept that the banking system that has stolen from generation after generation to operate its antiquated system through political monopoly must die or accept that we are leaving our kids in poverty and debt slavery for their entire lives.
Which is it? Are you a greedy little thief or do you care about your children?
Homes should depreciate over time. When Congress instituted the Federal Reserve Act of 1913 people holding dollars quickly realized that the dollar could be debased to infinity so they ran to the only scarce asset they could find. For over a century people have been stashing their wealth in property and since it is finite, this sent the price soaring.
People who once utilized land for its utility value farming and ranching now had the wealthy who would not work the land push them out. Income and capital gains taxes destroyed these nature lovers tossing their families off the lands as they could not afford to pay the inheritence tax on the lands.
But thank God for the banks. They began offering loans so that people could continue to buy homes. This put people in debt servitude. Today people must work for 30 years without moving or taking any risks that might endanger their employment or the home is returned to the banks and all the while they charge you an interest fee on a value distorted through a money printer printing to infinity.
How does bitcoin solve for this? Bitcoin returns us to absolute sound money where the value can never be inflated. Over time it will continue its journey repricing all asset in bitcoin. That $50k home in 1970 that has a bad roof, bad foundation, and mold in the walls should not cost $500k today. Maybe it should be worth $30k. Bitcoin returns that $470k in value by removing the monetary premium from real estate and returning it to the money where it belongs. The beneficiaries of this shift are those who recognize it before the institutions are able to allocate to it.
Our great great grandparents stole from our great grandparents. Our great grandparents stole from our grandparents. Our grandparents stole from our parents and our parents stole from us. Now we either need to fix this mess and accept that the banking system that has stolen from generation after generation to operate its antiquated system through political monopoly must die or accept that we are leaving our kids in poverty and debt slavery for their entire lives.
Which is it? Are you a greedy little thief or do you care about your children?