That is exactly why , currency always supposed to lose value ..
The downside is if you print like China does ( three times M2 compared to US ) , then you are forced to enact social systems to support the poor who never transfer fiat into assets .. cuz they are priced out .. or KYCed out .. #bitcoin is apex asset cuz it fixes that .. IT is not a medium of exchange..it is most liquid asset .. it is like mercury if you want to compare it to gold :-)
If it doesn’t also get used as a medium of exchange there’s gonna continue to be a massive wealth gap, probably even worse than before.
Wealth gap is not bad in itself .. cuz it is not abject poverty ! .. goal is to pull people out of poverty ..not make rich poor ! ..
Bitcoin does make rich ultra rich .. but it is good cuz it opens the doors to best asset class to every pleb .. I can stack sats ( lightning) without KYC , without minimum threshold and practically at zero txn cost ..
In other words ..Bitcoin is NOT socialism .. it is better capitalism cuz it opens up participation to every one with a smart phone ..
Most people are poor cuz they can't participate in capitalism.. they are barriered out
Expand your view of capitalism to more forms of capital than money
I’m not trying to make the rich poor.
Massive wealth gaps indicate inefficient use of capital (inclusive of all 9 forms of capital, not just money).
Yes it’s the best we have right now.
Yes .. that is a problem .. but #bitcoin doesn't fix that ..
You need a different tool for that .. may be spirituality :-)
Bitcoin is destined to be most liquid , most accessible , most open monetary network for the POOR .. to cast capitalism across the last village .. .. it needs greedy and super ultra rich .. 🤑🤑🤑
Not a medium of exchange .. a store of value for poor. .. Devs who help improve the monetary network will win .. those who try to use it for any other purpose .. or distort the usecase .. would perish ..
In other words .. #Bitcoin is UBI :-) ..
I don’t think we’re going to agree on the medium of exchange part.
But we agree on most other things, particularly “devs who help improve the monetary network will win”.
But you did .. right in your second comment .. you said rational 😂 ..
We normies have a uncanny ability to smell value .. you know we switch from Netflix as soon as the price goes up .. but we join back as soon as they lower it with ad supported .. we go across isles of physical stores to find the cheapest value bread .. and milk ..
We know sats are precious .. we are NOT spending them unless someone points a 🔫 :-)
All the devs , who are plotting to destroy this impeccable asset class provisioned by pure divinity .. would meet dust :-)
