I often here the phrase "#Bitcoin fixes this", but it's not often accompanied by logic that I necessarily follow.
How does it fix poverty, crime, inequality, corruption, government mismanagement?
People say, "fix the #money, fix the world", but I don't necessarily see it.
Who's a good person to chat to on my pod @whybitcoinshow who can articulate the case in favour of "#Bitcoin fixes this"? Maybe even a round table debate.
Specifically, I'd love to look at it through the lens of South Africa's current economic plight and how Bitcoin could fix it.
While I believe strongly in the potential of Bitcoin to change a person/nation state's fortune, I also want my logic and reasoning to be watertight. We need to steelman our arguments, and that's what I'm after.
Replies (5)
Read about Austrian economics and how sound money empowers the working class producers and laborers
The primary argument for "Fix the money, fix the world" is that government issued debt-as-money, i.e. fiat, is a source of corruption. Corruption of financial, political, and moral incentives at the highest levels of society. Fiat money offers a mechanism for a few elite to teleport value from all current holders of the currency to their own pockets. With such power, they can pay for any agenda they wish to pursue, good, bad, or deadly. You can truly "rule the world" with fiat monetary policy.
Bitcoin brings to the table an alternative to fiat that is not susceptible to the theivery that, at its core, fiat is. When Bitcoin is adopted by a population, fiat producers can no longer pick the pockets of the masses who no longer value their inflating currency. They lose that golden goose that could previously pay for all their fancies. The suffocation of a class of people that use money to rule over mankind is a path to saving the world from their deadly influence.
I think that is the main problem Bitcoin solves. The problems of society remain, but a major source of them is removed. Removal of a deadly cancer doesn't make you immune to all other disease. The procedure lets you survive and fight the battles that follow.
Get jack mallers
It's a meme. It means that the root cause of almost all the world's problems is due to the broken money. So if you can fix the money, you can fix the world.
Broken money causes misaligned incentives and results in societal decay. Look at factory farms, big pharma, insurance, medical profession, and general lack of emotional/physical well being.
One could write an essay explaining each one.
I recommend. nostr:npub1r8l06leee9kjlam0slmky7h8j9zme9ca32erypgqtyu6t2gnhshs3jx5dk for an interview. He may have already done a show on this?
Deuteronomy 25:15 in the Bible talks about honest weights and measures. Our current system is rotten and dishonest to the core.
The fact that the continual devaluing of money that is earned incentives spending today vs saving for something in the future. This is why we have homes built of match sticks and we wear clothing that wears out and drive cars that barely last. We live in a throw away culture because of spending.
If our money maintained it's purchasing power across time we could just save 10% over our lifetime, without the need for wreck less speculation and still be able to retire.
Today were all invested in things we don't understand in hopes just to keep up with our purchasing power in the future, only to retire and have a huge market
"You shall have a perfect and just weight, a perfect and just measure, that your days may be lengthened in the land which the LORD your God is giving you. crash."
