drgo on Nostr: In a credit based fiat system, they can have as many financial crises as they’d ...

In a credit based fiat system, they can have as many financial crises as they’d like as long as economy keeps growing. They can paper over any mistake and let economic growth happen over time to correct for the money printing. It’s all a question of balance. Works best with increasing populations with ever increasing worker productivity.

Gold won’t fix this. Will help protect wealth but as money printer goes brrrr more gold will eventually be mined in proportion.

Bitcoin doesn’t care what its price is. This makes it unique in the history of things that satisfy the properties required of money (divisible, transferable, portable, verifiable, fungible, and scarce)…bitcoin is a new weapon against the money printer and the truth is nobody knows exactly what will happen, but there has never before been a better tool in the tool box available to regular people than bitcoin.