[alwillis]

Bitcoin is a non-sovereign, hard-capped supply, global, immutable decentralized digital store of value. It’s an insurance policy against monetary and fiscal policy irresponsibility from governments and central banks globally.

Bitcoin’s genesis block contains a reference to the 2008 financial crisis; Bitcoin is pretty clearly a response to what was happening October 2008, when the Bitcoin white paper was released.

Ironically, the global economy is contracting even as we’re still dealing with the quantitative easing that was used to keep things afloat the last time. Say what you will, but there’s a good chance bitcoin will be the safe haven, which it currently is for Argentina and Venezuela.

[eru]

> Ironically, the global economy is contracting [...]

Where do you take that from? A Google search says that global real GDP is forecast to grow about 3% in 2019. Not great, but also not contracting.

For comparison, global population is forecast to grow by about 1% this year. So we even get a bit of growth per capita.

[alwillis]

The outlook isn’t good; certainly things in the US are slowing: https://www.washingtonpost.com/business/2019/10/30/us-slowdo...

[eru]

There has been a slowdown in growth, yes. Google search suggests that we are still expecting 1.9% real GDP growth in the US for 2019. The article you linked some talks about specific sectors and measures shrinking.

Slower growth is still not a contraction. And the US is not the globe.

[alwillis]

Since the dollar is the world’s reserve currency, if the US goes down, everyone goes down.

There are negative interest rates all over the place; there’s the inverted yield curve, etc.

The US debt just went to a new record of $23 trillion; this won’t end well.