17 April, 2022

About Bitcoin

Posted by Socrates in Bitcoin, Federal Reserve Notes, Federal Reserve system, money at 10:41 am | Permanent Link

This video is from late 2021 but is still relevant.

Can you imagine: money that isn’t inflationary? (Currently, American money is inflationary by default due to “fractional-reserve banking” rules. Our money constantly loses value)[1].

An expert on Bitcoin says: “it’s unique, and, it’s the most conservative thing in history.”

[Video; 2 hours].

.

[1] “fractional-reserve banking” is inflationary because it causes more money to be available, in our society, than otherwise would be available. In other words, instead of $100 billion dollars being available, $1 trillion is available. “More money” means it’s worth less. That is true of money, or pencils, or guns, or butter, or anything. More of “X” means “X” is worth less, and vice-versa.


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