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by NoticeMeSenpai 1458 days ago
>Bitcoin is the solution to the fundamentally broken debt-driven economy.

Sorry this is all too vague. How do you define "broken" and what does this post-debt-driven economy look like?

>They don't need articles like this one to tell them why their needs are unmet by the traditional finance system.

Whats the use case here exactly?

1 comments

>Sorry this is all too vague. How do you define "broken" and what does this post-debt-driven economy look like?

Look up % of world population living in hyperinlationary environments to get your answer. The post-debt driven economy is one where a handful of people cannot devalue your labor with a press of a button.

> Whats the use case here exactly? Freedom from corrupt governments that debase your currency into oblivion, only to adopt another currency which suffers from the same ultimate fate. Financial inclusion is the use case. It's broad, it's ambitious and ultimately to entrepreneurial interpretation.

If you look into the details of a hyper-inflation environment (such as Germany in 1922-23), labor tends to retain its value pretty well under such conditions. Laborers would re-negotiate their salary every morning, and tended to do pretty well.

Bank deposits go to 0 though, as would most savings that did not grant control of some inflation-resistent revenue-flow.

Anyway, true hyperinflation is extremely rare. The most recent case I'm aware of, was Venezuela around 2013. To my knowledge, 0% of the pupulation lives under true hyperinflation today.

>Look up % of world population living in hyperinlationary environments to get your answer. The post-debt driven economy is one where a handful of people cannot devalue your labor with a press of a button.

Ok so lets say the production costs increases and drives inflation. How does bitcoin make my life easier in this scenario?

Accept bitcoin for your products and services, and when you run your books, look at it from the perspective of bitcoin to see if you're profitable or not, even if you legally still need to keep your books in your local government's currency. The dollars (and the other fiat currencies) inflate too quickly to be useful monetary measures.