Oddbean new post about login | logout One day people will look back at the fiat system and wonder how the people of that time so readily accepted it. It’ll seem bizarre.
Reality before a true innovation seems almost unfathomable afterwards. Yet at the same time, sound money and fiat money rise and fall in a cycle, and some people long ago who lived under a sound money standard actually lived better lives back then than we do today. But the hope is that with Bitcoin, fiat will have a much harder time beating sound money in the future, gradually breaking the cycle forever. The thousands of years prior to 2009 will really seem bizarre for sure.
What's the saying? A genius is someone who makes something no one thought of before seem obvious in retrospect.
It makes planning for the future somewhat ironic, because the likelihood of any one of us being the genius who will lead an innovation we want to see is fairly low. So the future is literally unimaginable, yet we plan as if it is. As Lowery puts it, the next war will never look like the last war, but we always plan as if it will 🤔
In my opinion, voluntary exchanges between people, such as barter, in which people exchanged salt for wood, for example, have much higher moral and ethical values than Fiat currencies. Money as we know it was created to enslave humanity. #Bitcoin was created to free us from slavery. See, in the Bible it is written that “the root of all evil is the love of money” and not money itself! However, the banking system has taken over the global financial system, and today, the people are in its hands.
Rugged
I already do. Fiat is a scam shitcoin. Endless printing until the currency is debased to the point that it becomes not worth the paper it is printed on. Coins already cost more to produce than they are worth. Soon will be the same with paper bills. nostr:note1lhdwuaczsjv32gxwfn2mr3q57l3hnfm4raxvcg0ep3kzldcy6wpqrm4naz
It's bizarre now...
I already do. Fiat is a scam shitcoin. Endless printing until the currency is debased to the point that it becomes not worth the paper it is printed on. Coins already cost more to produce than they are worth. Soon will be the same with paper bills.