How I woke up from the fiat money fallacy 🫰🤑 \ stacker news ~ideasfromtheedge

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How I woke up from the fiat money fallacy 🫰🤑

110 sats \ 13 comments \ @Msd0457890 13 Jan ideasfromtheedge

Today that I use and know what Bitcoin is, I remember how many times I tried to earn more fiat money to pay my debts or financial commitments, thinking 🤔 I must work harder to earn more, that was my thought since I had my first job at 18 years old when my country of origin was suffering one of the worst economic crises, and I discovered terms like inflation, which denigrated my purchasing power. Answer this short survey and if you want, comment when you woke up to the fallacy of fiat money ⏲️?

I knew it when I discovered Bitcoin.76.9%

I always knew it.23.1%

13 votes \ poll ended

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36 sats \ 1 reply \ @Blank 13 Jan

Good question, I remember my teachers at school telling us how much you use to be able to buy for just a few cents. $1.00 use to go a very long way. But, it's talked about in a way that it's something that we just have to accept. I always thought it was pretty fucked up, but didn't know for sure until the 2008 financial crisis.

10 sats \ 0 replies \ @Msd0457890 OP 13 Jan

We all have different experiences with Fiat money, thank you for sharing your comment with all of us.

5 sats \ 1 reply \ @flat24 13 Jan

I would never have been able to realize the FIAT money scam before if it weren't for trying to study to understand

0 sats \ 0 replies \ @Msd0457890 OP 13 Jan

Searching for the why of things is something that not all of us have, most people just nod their heads, without asking themselves why their money is becoming increasingly degraded and they can buy fewer things.

5 sats \ 3 replies \ @TNStacker 13 Jan

Before I discovered Bitcoin.

21 sats \ 2 replies \ @Msd0457890 OP 13 Jan

How did you do it? Please tell me.

5 sats \ 1 reply \ @TNStacker 13 Jan

I was educated in traditional fiat finance, so it took some unwinding, but a foundation in Money and Banking history and critical thinking helped. The hair-raising epiphany point was when Republicans and Democrats all agreed to send out checks to Americans. Everything in me rose up and said, they are going to break the fucking economy. I immediately started buying "hard money." At the time that meant precious metals (gold, silver, platinum). Later, it was a combination that included Bitcoin and shitcoin. Now, it's Bitcoin only.

21 sats \ 0 replies \ @Msd0457890 OP 13 Jan

It's surprising, I imagine that upon learning all this you looked for a way out and what better than Bitcoin, the best asset in history, thank you for sharing your comment with me.

5 sats \ 4 replies \ @john_doe 13 Jan

I selected I knew it when I discovered Bitcoin. Although when I discovered Bitcoin in 2013 it was just to make money by using imperfect information on markets. What really brought me to Bitcoin is in 2020, there was no way governments could incentivize people to stop working by giving them money. Work = Money. Hence if someone can get money without working, there is a fraud going on.

21 sats \ 3 replies \ @Msd0457890 OP 13 Jan

I totally agree with you, everyone should earn their own money through their own effort, although at that time that money was no longer worth the same, which shows us that the financial system has always been and will always be a total fallacy.

4 sats \ 2 replies \ @john_doe 13 Jan

Actually in my view in this particular case I don't see the financial system or government as responsible for this but the people. The fallacy came from everyone thinking money could be free. So if everyone had collectively decided to throw government money to the trash, even if the government had printed money, I wouldn't have bought Bitcoin. I bought it because I was the only one in my circle throwing "money" to the trash. For pretty much every other cases I can think of since 1973, I agree with you as well, the financial system is a total fallacy.

0 sats \ 1 reply \ @Msd0457890 OP 13 Jan

What do you mean when you say you were throwing "money" in the trash?

0 sats \ 0 replies \ @john_doe 14 Jan

Throwing to the trash the possibility to get 10,0000 yens (in my case it was in Japan) into my bank account. Accepting it was highly immoral because it would make everyone poorer, yet everyone I know accepted it and felt temporarily richer.