Damus
gladstein profile picture
gladstein
@gladstein
The currency caste system:

A very small number of rich countries print high-quality fiat (for now) to buy stuff while the overwhelming number of countries can’t and instead have to export stuff *we* want (instead of focus on making stuff they need) to earn high-quality fiat

This currency caste system ensures that most countries never develop sovereignty and instead grow dependency

But! This caste system is completely upended if all countries and people eventually settle in the same global neutral currency that no one state or group of states can print arbitrarily

This is the ultimate promise of Bitcoin: ending the global monetary inequality that enriches a tiny few by causing needless suffering for so many
3394❤️111🤙86❤️3💜3🔥2🎯1
Kaizen · 166w
It stands to reason then that the tiny few will do whatever they can to maintain power and to go against this new paradigm shift.
nobody · 166w
Perfect.
McIntosh · 166w
As always right on point Alex!!
t4es5ter5 · 166w
If people still do not see this after more than 10 years bitcoins existing they will see it never.
Code & Psychology ⚡️ · 166w
"High quality fiat" sounds like "high quality ponzi". Is a high quality ponzi better then a simple one?
JT · 166w
It's an uphill battle as well, let's not forget that. Hopefully it only takes a few more.
Ocean · 166w
I agree with most of your post but I do think it’s worth pointing out that the “third world” had rapidly and dramatically come out of poverty. Something like 45,000 people exit poverty every hour around the world. 30 years ago most of the world lived on less than dollar a day.
Mr. Sat Stacker · 166w
when they discover selling oil and gold for bitcoin. https://m.primal.net/HIcG.jpg
Tim · 166w
💯
idagli⚡₿⚡ · 166w
The system of capitalism will do anything to protect it.
Volition · 166w
The rich nations are so because of their ideas and historical protection of individual property rights, in a word capitalism. Bitcoin will help people better defend their individual property (where it is Bitcoin), but if the population believes in socialism it may not fix this, China, North Korea, ...
Luffy · 166w
This is beautifully put Alex. After examining the Aid industry i came to the dependancy conclusion and opted out of any donations to well meaning org. What is amazing is that only now the veil is being lifted and peoples eyes opened to the total scam that is a reserve currency status. . I 100% agr...
47 · 166w
Here for this
pup · 166w
I want to see the value of bitcoin increase, watch whales and large holders trade their coins for real goods, and watch the coins continue to distribute globally.
nodebrook ⚡💊 · 166w
By 'high quality fiat' do you specifically mean USD and the Euro or are there others?
Jim Bob · 166w
Spot on explanation. Shout it from the rooftops!
Felipe Zullino · 166w
perfect
Willy Cooper · 166w
well said!
BTCrevolutionary · 166w
This would dramatically impact the standard of living of millions of Americans and the west when this happens, no? Not saying it’s right but there would have to be some rebalancing it would seem.
GameBoyBTC · 166w
Well I see #Bitcoin as that neutral Money and that we can all access without asking permission either from the government where I live (Venezuela) or another with greater power through another currency such as the dollar. It will not be taken by decree from the emerging countries. But hopefully mone...
(L)Earn Bitcoin · 166w
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OriginalSize · 166w
The main effect I see Bitcoin having right now is making the elites think twice about infinite money printing. The authorities are just now coming to grips with how hard it is to identify and track Bitcoin holdings and usage. If this causes even 1% less money to be printed a lot of suffering will be...