0 sats \ 1 reply \ @jerrybature 29 Sep \ on: Bitcoin, as a bitcoiner, is a really lonely place sometimes bitcoin
We are living in a time of currency wars. Bitcoin is relatively young compared to fiats. Bitcoin is a form of money designed to be used in an adversarial environments, that's why financial hardship, such as fiat inflation, is the strongest factor that is capable of driving bitcoin adoption.
People sometimes use the phrase 'financial freedom' in their relationship with bitcoin. However I think this is misleading... because it implies some kind of increase in purchasing power.
I think 'financial freedom' REALLY means freedom, as opposed to repression ie financial repression.
According to wikipedia: Financial repression comprises "policies that result in savers earning returns below the rate of inflation" to allow banks to "provide cheap loans to companies and governments, reducing the burden of repayments."[1] It can be particularly effective at liquidating government debt denominated in domestic currency.
In other words, bitcoin is money free from the state, allowing the individual to spend and save free from the burden and flaws of the State. Bitcoin's inflation rate is separate from that of the state or 'fiat' money, and so allows individuals a savings account that is separate from government debt and inflation. Personally I think most people will figure it out, eventually.
reply