The decline of western civilization is rooted in the sophomoric belief that wealth can be "printed" out of thin air.
@cjd
I know the history, I am just shocked, that there are people who don't seem to understand, that money printers don't create bread nor houses.
@LukeAlmighty
Bitcoin drives a steak through the heart of the beast. Like gold it cannot be printed. Unlike gold it can trivially be transferred, assayed and custodies.
This is not an ad, you don't need to buy any, the demolition of fiat is preordained - there is no other way this can play out.
Bitcoin drives a steak through the heart of the beast. Like gold it cannot be printed. Unlike gold it can trivially be transferred, assayed and custodies.
This is not an ad, you don't need to buy any, the demolition of fiat is preordained - there is no other way this can play out.
First there was the gold standard
But gold is hard to transport and when you are paid in gold, you cannot really prove its purity except by melting it down and assaying the resulting cast.
So everyone put their gold in vaults and began exchanging vault receipts. No one really ever took self custody because it is hard.
Soon goldsmiths inflated the number of receipts... No one noticed much except that they became very powerful.
When they had inflated so much that they risked bankruptcy, they lobbied the government to abolish the gold standard and no one paid that much attention.