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so it's a matter of trust.

what gives bitcoin value ? its only source of value is that people BELIEVE in it.

same for the dollar. people BELIEVE in the dollar.

mining bitcoin doesn't devalue it - it keeps going up - because the number of people believing in it is going up.

if dollar crashes it won't be because more of them was printed - but because people lost their trust in it.

frankly i see no reason to have faith in the dollar. we're losing to China economically. the entire world hates us because of Israel. BRICS are getting more and more integrated.

and yet what is the alternative ? if people were to convert dollars - what would they convert them into ? which currency holds value better while also being universally accepted ?

bitcoin is still too hard to use. most other currencies have higher inflation than dollars.

only Yuan ...

the Yuan is appreciating against the dollar ...

if Yuan becomes world reserve currency THEN you will see what hyperinflation looks like ... or what WW3 looks like

😃

Dissident Sound 1y ago

ask yourself this homie - why is Yuan appreciating against the dollar ?

do the Chinese not print money ?

the answer is it has nothing to do with printing money

the Yuan is appreciating because Chinese economy is growing, Chinese sphere of influence is expanding and the Trust and Respect that people have for Chinese Economy and Yuan is increasing ... thus the DEMAND for Yuan is increasing causing it to appreciate ...

supply and demand

you're ONLY looking at the supply but reality is that supply is easy to control - demand is IMPOSSIBLE to control

so when shit hits the fan it won't be due to excess supply - it will be due to collapse of demand

( Andrew Tate Voice ) Do You Understand ?

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Dissident Sound 1y ago

in other words although supply of money and demand for it both have equal effect on the value of money supply is actually relatively static ( it grows at a slow and relatively steady rate ) whereas demand is dynamic.

supply is unlikely to go to infinity overnight but demand can go to zero overnight ( for example if US loses WW3 to China )

don't expect Austrian cocksuckers to explain these things to you. they don't care about reality. they care about pumping gold and bitcoin and avoiding taxes.

their real objection to fiat system is having to pay taxes, which are ultimately paid to the federal reserve as interest on loans.

so of course they begin to rationalize how everything is the fault of federal reserve when in reality China also has central banks - the difference is they DON'T HAVE NIGGERS.

the reason Yuan is beating the Dollar is because Chinks > Niggers

( Andrew Tate Voice ) Do You Understand ?