Something bitcoiners can forget is that it is challenging for the avg person to realize modern, govt issued currencies are a social construct and not a force of nature.
The illusion of fiat is completely pervasive and is reinforced constantly from our very first allowance 👇
The illusion of fiat is completely pervasive and is reinforced constantly from our very first allowance 👇
A helpful discussion to wake others up to the injustice of fiat comes from the “The bitcoin standard” by @saifedean.
By simply asking the question:
“what makes for a good form of money?”
the perception of our local fiat currency as inherent and necessary can be broken.
By simply asking the question:
“what makes for a good form of money?”
the perception of our local fiat currency as inherent and necessary can be broken.
Ammous' discussion of hard vs easy money illustrates that currencies that have an unlimited supply become worthless in the long run but there is also the possibility to strategically and nefariously siphon off a society's value through intentional manipulation of currency supply.
A passage from The Bitcoin Standard perfectly describes this idea:
“When European explorers and traders visited West Africa in the sixteenth century, they noticed the high value given to these beads and so [they] started importing them in mass quantities from Europe.
“When European explorers and traders visited West Africa in the sixteenth century, they noticed the high value given to these beads and so [they] started importing them in mass quantities from Europe.
...given the tiny size of the beads and the much larger size of the population, it was a slower, more covert process with bigger and more tragic consequences...
...slowly but surely, Europeans were able to purchase a lot of the precious resources of Africa for the beads they acquired back home for very little.”
National governments are not satisfied with the control that they have over society’s value transfer system through taxation across every element of the value transfer process (income, sales, property, VAT, capital gains, inheritance etc.).
They rob their citizens by issuing massive amounts of new currency that devalues the existing currency in circulation.
This is nearly identical to the blatantly immoral monetary manipulation used by Europeans colonizing West Africa.
This is nearly identical to the blatantly immoral monetary manipulation used by Europeans colonizing West Africa.
By manipulating the value of their fiat currency, governments rob individuals of their labor and ultimately their lives.
There are so many people who work their entire lives only to "retire" in relative poverty.
There are so many people who work their entire lives only to "retire" in relative poverty.
Governments do this to create an invisible yoke that harnesses the collective work of entire nations to serve the desires of those in power - in the case of the US, our society's work is invested in war.
Government currencies are worthless and not only do govts understand this, they specifically use this understanding to manipulate society to serve them.
Hard currencies are the only way to truly own the value you create and free yourself of the invisible oppression of easy money
Hard currencies are the only way to truly own the value you create and free yourself of the invisible oppression of easy money
I hope this helped you understand a little bit more about the WHY behind Bitcoin.
If you haven’t already, I highly recommend you give 'The Bitcoin Standard' a read.
It’s full of incredibly relevant history and information that can help move any precoiner closer to Bitcoin.
If you haven’t already, I highly recommend you give 'The Bitcoin Standard' a read.
It’s full of incredibly relevant history and information that can help move any precoiner closer to Bitcoin.
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