Bitcoin: The world’s reserve currency

Uber
XMQA76

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XMQA76
Dec 30, 2020 83 Comments

Just a reminder that USD and other government “fiat” currencies backed only by a government’s promise (and military) are not sound money. Our monetary system has NOT stood the test of time (less than 50 years off the gold standard), and historically when governments play with money printing as they are currently, the economies collapse. USD is also used to keep developing nations poor.

Gold is fairly sound but inconvenient. Bitcoin is incredibly sound and portable. Let’s stop letting the government prop up the corporations / billionaires and take monetary policy back into the hands of the people.

Thanks!
29K today, 1million+ in 2025

Edit: I should note it will probably crash all the way back down to 50K again next december, if it follows the trend of the last halving cycle

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  • Google / R&D
    Yeet__Code

    Go to company page Google R&D

     Yeet__Code
    Lol crypto is terrible for the environment and it most certainly doesn't put monetary policy in the hands of the people. Stop trying to pump
    Dec 30, 2020 20
  • Google
    sl98#zg

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    sl98#zg
    The very infrastructure that Bitcoin operates on is backed by governments and their militaries: datacenters, interconnected networks that make up the internet, and the land all of this exists on.

    Until you have some kind of autonomous region on the earth that is able to fully sustain the bitcoin network, independent of any government, these facts will remain true.
    Dec 30, 2020 15
    • Uber
      XMQA76

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      XMQA76
      OP
      I’d say I’m more aggressive about it than defensive! Our inflationary economic system rewards debt. The wealthier you are, the more leverage you are allowed. Wages take much longer to catch up. Hence the ever increasing wealth gap.

      It’s consistent across history & cultures: when governments inflate their money, it creates poverty and a great wealth divide. When governments stick to sound money, it creates prosperity for the working class
      Dec 31, 2020
    • ^That is not how government debt works. For eg: Venezuela’s sovereign debt was only 23% of its GDP in 2017 and yet it was the worst year for them when it came to their currency devaluation and hyperinflation. Before making blanket statements, understand how things and economy works. That is why I don’t believe most of Bitcoin maximalists, most of them just follow their cult without understanding their own arguments.
      Dec 31, 2020
  • Yahoo
    Igpay18

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    Igpay18
    Cool story
    Dec 30, 2020 8
  • Google
    Tlon Musk

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    Tlon Musk
    I’ll just leave this here OP.

    🍿
    Dec 30, 2020 5

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