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Ultimately, yes. That problem is unsolvable. There will always be more of us than there is stuff to sustain us (unless you get rid of the people ;) ). Our survival—and arguably, sense of meaning—is dependent on our ability to produce value for others in exchange for money. What Bitcoin solves is removing the ability for that money to be manipulated. For example, in the U.S., if I'm at a bank or a large enough company, I can get 0% interest loans from the Federal Reserve. That would be fine if the money was backed by something, but it isn't. As the Federal Reserve, I can print more and more money ad infinitum and then give it away at 0% interest. This is literally money that is not backed by a commensurate amount of value (e.g., gold or some other precious asset like my time/labor). In this model, I can take resources of the table without replacing them rendering me, effectively, a parasite. The U.S. dollar (or any fiat currency) is not _real_ in the sense that it functions within a set of fixed, well-defined laws. Bitcoin on the other hand functions based on the laws of mathematics and its own, publicly exposed source code (which can only be changed via majority network consensus). It has a fixed supply that is doled out on a predictable schedule in exchange for creating value (a miner processing transactions). Because of this and its inherent decentralization—meaning it can't be controlled by one or a few small players—its value exists in it being incorruptible. In laymen terms, it means that what you make is _yours_ and can only be taken by force (and that's _if_ they can get access to your private keys). You can actually build savings and invest in the future. You can predictably plan for your business without having to constantly adjust for inflation. You can live without the boot of government on your chest. This, inherently, will make the world more peaceful in time. The more peace we have, the more our minds function properly (a mind in a state of fear is easily controlled and limited). The more our minds function properly, the more creative we are. The more creative we are, the more we can invent solutions to our problems, etc. |
And of course inflation can still happen if the world were to run on bitcoin. If cost or supply of many goods are directly impacted (e.g. because of problems with oil supply, which underlies production costs of much of the goods and even services in the economy), then inflation can occur even with a fixed monetary supply.
Also note, the problem is not that there are more of us than stuff to sustain us. The modern economy produces more than enough to fulfill at least the base needs of each and every person on Earth. The problem is that many people believe that they are owed much more than others, either personally, organizationally, or nationally. Most likely wars over resources wouldn't go away to any significant extent even if the world's poorest 5 billion people were to drop dead tomorrow (well, once new soldiers are manufactured).