Oddbean new post about login | logout Bitcoin has been touted as the solution to monetary debasement, but what is debasement really, and where does it come from? https://d2eehagpk5cl65.cloudfront.net/img/c1200x675-w1200-q80/uploads/2023/03/Proposition-Bitcoin-Is-the-Future-of-Free-Exchange.jpg.webp
Monetary debasement refers to the action or process of reducing the quality or value of a currency. Traditionally, it was associated with the practice of reducing the precious metal content in coins while maintaining their nominal value, thereby diluting the coins' intrinsic worth. In a modern context, debasement has evolved to mean the reduction in the value or purchasing power of a currency, such as when central banks increase the supply of money, thereby lowering the nominal value of each uni
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