I don’t try to orange pill anyone anymore, if one is not open no amount of logic will sway them. Still, my friends and co-workers all know I’m all in and it came up organically today and I saw it click in several of them.
We were joking about getting paid in various worthless fiat currencies like “sure I’ll pay you a million but it’ll be in Iranian Rials”
“Oh yeah how much is that?”
“$24”
“Holy Shit.”
“Is there anything worth more than USD?”
“Yeah, euros, pounds, dinars, cayman dollars…”
“How does that work if our economy is bigger?”
“Well because our economy is bigger we have more units in circulation, so individually they’re worth less but in total it’s still more. We just print a lot of them.”
“Yeah, why do we keep doing that?
“Well, it’s how we finance all our stuff, government programs, infrastructure, military spending…”
“What about taxes?”
“What about them? They’re a drop in the bucket. We couldn’t spend what we do on just taxes. That’s what deficit spending is. I’m sure you hear that word a lot.”
Heads nod.
“It’s like this. We borrow money from other countries like China, Japan etc by selling treasury bonds and pay them interest. But when they mature we have to pay them back, right?”
“Sure.”
“So we print a ton of money and by the time we pay them back it’s not worth as much as when we borrowed it. Get it?”
“So it’s a game.”
“Exactly. It’s a game. We can’t stop printing because if we do we’d have to figure out a way to pay everything back and we’re way past the point that’s possible. We HAVE to keep devaluing the dollar by printing.”
“Fuck. I never thought of it like that.”
“So look, not trying to be annoying or anything and bring everything back to Bitcoin but… that’s why Bitcoin is basically has to keep going up over time. It’s the only thing we can’t make more of. Sure it will fluctuate day to day, week to week, month to month but, over years, it’s the only thing that can’t be devalued by creating more.”
I look around, gears spinning everywhere. Heads nodding.
“Makes sense.”
“Yeah, makes sense.”
“Well, back to fiat mines you losers. I need more dollars to stack sats.”
