BorderlessBTC on Nostr: We are living through The Great Monetary Transition! Money tomorrow will not work as ...
We are living through
The Great Monetary Transition!
Money tomorrow will not work as it does today.
Here is how we got here and what is coming:
The Great Monetary Transition!
Money tomorrow will not work as it does today.
Here is how we got here and what is coming:
1. Age of Gold 600BC - 1913
People across the world used gold & silver as money. They were:
- Issued in a decentralized way
(anyone could mine money)
- Hard to inflate
(you had to mine gold)
- Counterparty-free money
(if you held it, it was truly yours)
2. Transition 1913 - 1971
The US Central Bank (CB) started a transition period. Money became:
- Centrally issued banknotes
(only CBs could issue)
- Partially backed by gold
(CBs started to inflate money)
- Dependent on a counterparty
(CBs could confiscate all money)
3. Age of Central Banks 1971 - 2009.
Banks nationalised money & issued 200 fiat currencies:
- Centrally controlled & managed
(only CBs can issue fiat)
- Infinite ∞ inflationary money
(they say inflation is "healthy")
- Dependent on a counterparty
(CBs can confiscate all money)
4. The Great Transition 2009 - 20??
Bitcoin started the transition to digital gold-like money.
This could be a smooth transition, but it will likely be messy.
Small fiat currencies will go to zero...sometimes very quickly.
USD will likely survive the longest of all fiat money.
5. Age of Bitcoin 20??
People worldwide will use one money: bitcoin. Like gold, it is:
- Issued in a decentralized way
(anyone can mine bitcoins)
- Impossible to inflate
(nobody can print bitcoins)
- Counterparty-free money
(if you hold it, it is truly yours)
The Great Monetary Transition can be hard, confusing, even disastrous.
It also brings tremendous opportunities for the curious ones.
After the transition, a new Renaissance will likely follow!
#StudyBitcoin & money so you can better navigate this great transition.
The bad news is during the previous transition we had:
- 2 World Wars
- Multiple economic crises
- Extreme right & left parties
The good news is unlike fiat, bitcoin disincentives wars and boom & bust cycles.
Still bitcoin's adoption will be volatile. It can't be any other way.
Tomorrow, in my newsletter, I will share the 21 steps for bitcoin to become Global Money.
It has already completed 10.
11 more to go!
Subscribe at https://BitcoinReady.me/
The Great Monetary Transition!
Money tomorrow will not work as it does today.
Here is how we got here and what is coming:
The Great Monetary Transition!
Money tomorrow will not work as it does today.
Here is how we got here and what is coming:
1. Age of Gold 600BC - 1913
People across the world used gold & silver as money. They were:
- Issued in a decentralized way
(anyone could mine money)
- Hard to inflate
(you had to mine gold)
- Counterparty-free money
(if you held it, it was truly yours)
2. Transition 1913 - 1971
The US Central Bank (CB) started a transition period. Money became:
- Centrally issued banknotes
(only CBs could issue)
- Partially backed by gold
(CBs started to inflate money)
- Dependent on a counterparty
(CBs could confiscate all money)
3. Age of Central Banks 1971 - 2009.
Banks nationalised money & issued 200 fiat currencies:
- Centrally controlled & managed
(only CBs can issue fiat)
- Infinite ∞ inflationary money
(they say inflation is "healthy")
- Dependent on a counterparty
(CBs can confiscate all money)
4. The Great Transition 2009 - 20??
Bitcoin started the transition to digital gold-like money.
This could be a smooth transition, but it will likely be messy.
Small fiat currencies will go to zero...sometimes very quickly.
USD will likely survive the longest of all fiat money.
5. Age of Bitcoin 20??
People worldwide will use one money: bitcoin. Like gold, it is:
- Issued in a decentralized way
(anyone can mine bitcoins)
- Impossible to inflate
(nobody can print bitcoins)
- Counterparty-free money
(if you hold it, it is truly yours)
The Great Monetary Transition can be hard, confusing, even disastrous.
It also brings tremendous opportunities for the curious ones.
After the transition, a new Renaissance will likely follow!
#StudyBitcoin & money so you can better navigate this great transition.
The bad news is during the previous transition we had:
- 2 World Wars
- Multiple economic crises
- Extreme right & left parties
The good news is unlike fiat, bitcoin disincentives wars and boom & bust cycles.
Still bitcoin's adoption will be volatile. It can't be any other way.
Tomorrow, in my newsletter, I will share the 21 steps for bitcoin to become Global Money.
It has already completed 10.
11 more to go!
Subscribe at https://BitcoinReady.me/