| > ... a financial instrument that brings out the worst in people—greed—won't change the world for the better What about the financial instrument that brings this to people: - Argentina and Turkey inflation in 2022: 72%
- Venezuela : 186%
- Lebanon (which used to be called the "Swiss of the middle east"): 171% People in these countries who managed to buy gold or Bitcoin have, so far, managed to dodge the damage. Satoshi's message in Bitcoin's genesis block wasn't about bringing out the worst in people: it was a huge middle finger to politicians making the money printing press go "brrrrrrrr" (as the meme goes) to try to bail out their failing economies. To me it looks like an experiment which may or may not make sense: "Oh you like to print infinite amount of money? Here's a currency which you cannot print indefinitely". It may not be a viable currency for a country's economy (an eventually deflationary "thing" is probably not fit to be a currency), but it is a statement. And I'm not sure all those who own Bitcoins are greedy: I'm pretty sure quite some own some in the same way some people hold physical gold, as a subversive answer to the various states... "Try to mine more physical gold / Try to break maths/cryptography and mine more Bitcoins". People buying physical gold aren't saying "Have fun staying poor". They're saying "Fuck your money printing machine". Note that there are people who also own next to nothing in USD / EUR and have nearly everything in stocks. It's also a way of saying "Fuck your money printing machine". That's really how I see people holding Bitcoins: people who haven't drank the state kool-aid and who think "Stick your money printing machine where light doesn't shine". |