It's a common misconception that without a depreciating fiat currency, society would crumble. However, this overlooks the fact that civilizations have successfully used commodities and stores of value (SoVs) as a medium of exchange since their inception. These commodities, whether it was salt, gold, or livestock, had inherent value understood by everyone. This transparency eliminated the need for a third-party guarantor, like a government, to maintain trust in the currency's value. In contrast, fiat currencies are susceptible to inflation and economic policies, which can erode their value over time. Therefore, using a tangible SoV, or even a digital one like #Bitcoin, could be seen as a more efficient, transparent, and stable system, as it returns the control of money to the people, rather than a central authority.
Discussion
No replies yet.