Aug_BTC on Nostr: Credit is what moves economy and innovation. Who says Bitcoin don't allow credit ...
Credit is what moves economy and innovation. Who says Bitcoin don't allow credit creation does not understand what's the direction and the steps for adoption.
The fiat system won't suddendly collapse and we'll all live in the Bitcoin standard.
The fiat system will continue yo depreciate and people will eventually be poorer than the previous generation.
While technology is deflationary, central monetary theory is inflationary because we need to believe we are richer than our grandparents. In fact, if an industry worker of 1900 was paid 100$, today he should be paid 1000$. Unfortunately, today he's paid 500$.
Our living standard (in first world countries) is far better than our grandparents one, but only because it is cheaper to create and produce, but not to acquire.
This because the denominator of credit is now infinite.
The only way to fic this is to have a stable backing asset that allow to create controlled credit.
Guess what?
It is Bitcoin.
The fiat system won't suddendly collapse and we'll all live in the Bitcoin standard.
The fiat system will continue yo depreciate and people will eventually be poorer than the previous generation.
While technology is deflationary, central monetary theory is inflationary because we need to believe we are richer than our grandparents. In fact, if an industry worker of 1900 was paid 100$, today he should be paid 1000$. Unfortunately, today he's paid 500$.
Our living standard (in first world countries) is far better than our grandparents one, but only because it is cheaper to create and produce, but not to acquire.
This because the denominator of credit is now infinite.
The only way to fic this is to have a stable backing asset that allow to create controlled credit.
Guess what?
It is Bitcoin.