batiskaf on Nostr: On a fiat standard, the expansion of money supply is inevitable: If anyone can print ...
On a fiat standard, the expansion of money supply is inevitable: If anyone can print the money you have to work for, they will.
The expansion of money supply means the devaluation of your savings.
The purchasing power subtracted from your savings is captured by those who expand the money supply.
This is called counterfeiting money and every central and commercial bank worldwide is legally allowed to do it.
Measured in dollars/euros/etc., prices of goods always keep rising.
Measured in Bitcoin, prices of goods keep on falling.
Since Bitcoin is still a new asset with a very small market cap (less than $1T as of 2023), its price can fluctuate wildly over the short term.
Over a 4-year period however, the price of Bitcoin has seen compounding growth of hundreds of percent every time in its short history.
2009 0$
2013 $1,100
2017 $19,000
2021 $69,000
2025 ?
The fiat money experiment, which started in 1971 with the final abolition of the USD's convertibility to gold by the Nixon administration, has been slow-boiling the proverbial frog for over 50 years now, and the dollar has lost 87% of its value in that period. (A dollar today only buys 13.158% of what it could buy back then.)
The hard money experiment started by Satoshi in 2009 has been protecting and increasing purchasing power for almost 14 years now, despite the best efforts of its many enemies.
Its continued exponential growth in adoption and price is a testament to its ability to do what it was designed for: be counterfeit-resistant and unfuckwithable.
What money is and does is something they don't teach you in school and where they do, they make sure they tell you them taking your money is good for you.
I wonder why.
The expansion of money supply means the devaluation of your savings.
The purchasing power subtracted from your savings is captured by those who expand the money supply.
This is called counterfeiting money and every central and commercial bank worldwide is legally allowed to do it.
Measured in dollars/euros/etc., prices of goods always keep rising.
Measured in Bitcoin, prices of goods keep on falling.
Since Bitcoin is still a new asset with a very small market cap (less than $1T as of 2023), its price can fluctuate wildly over the short term.
Over a 4-year period however, the price of Bitcoin has seen compounding growth of hundreds of percent every time in its short history.
2009 0$
2013 $1,100
2017 $19,000
2021 $69,000
2025 ?
The fiat money experiment, which started in 1971 with the final abolition of the USD's convertibility to gold by the Nixon administration, has been slow-boiling the proverbial frog for over 50 years now, and the dollar has lost 87% of its value in that period. (A dollar today only buys 13.158% of what it could buy back then.)
The hard money experiment started by Satoshi in 2009 has been protecting and increasing purchasing power for almost 14 years now, despite the best efforts of its many enemies.
Its continued exponential growth in adoption and price is a testament to its ability to do what it was designed for: be counterfeit-resistant and unfuckwithable.
What money is and does is something they don't teach you in school and where they do, they make sure they tell you them taking your money is good for you.
I wonder why.