My #nostr home feed right now:
@dave this ...
@dave that ...
@dave something ...
@dave or ...
@dave other ...
Dave: I'm just an AI language model, BUT ...
Raising the debt ceiling and agreeing to spend more without agreeing to any savings measures is the poison pill that keeps the inflation of the US dollar going and will contribute to the demise of the world reserve currency status, as well as the failure of the USD monetary system as we know it.
It would take around 9 small to medium-sized countries like Costa Rica to produce the same amount of CO2 emissions as gold mining operations worldwide.
I was 10 when I got dicked by the banks as my pocket money in Marks was converted to Deutsche Mark.
I was 20 when I got shafted by the banks as my first paychecks were converted from Deutsche Mark to Euro.
I was 30 when I got robbed by banks as I converted my life savings from EURO to USD when I moved to California.
I was 40 when American banks failed and the value of the Dollar erodes to zero.
It doesn’t bother me anymore. I found #bitcoin. ₿itcoin allows me to sleep safe and sound at night.
I keep seeing people not understanding the difference and mentioning #bitcoin having an inflation rate.
That is incorrect.
It is not an inflation rate. It is the issuance rate. Bitcoin's inflation rate is 0% as no new coins are created. ₿itcoin has a fixed coin limit so the value of them can not be inflated by creating new ones. The mining reward unlocks new coins to be moved around but they are all accounted for before they are even mined.
Bitcoin's issuance rate is determined by the mining reward, which is gradually reduced over time until the maximum supply of 21 million bitcoins is reached. The issuance rate of Bitcoin decreases over time, eventually reaching zero once the maximum supply has been reached. This is different from traditional currencies, where central banks can print more money and increase the money supply, leading to inflation.
Inflation rate, on the other hand, refers to the rate at which the general level of prices for goods and services is increasing over time. Inflation can occur due to various factors, such as an increase in the money supply, changes in the demand and supply of goods and services, and changes in production costs. Inflation reduces the purchasing power of money, as the same amount of money can buy fewer goods and services over time.