Topic: Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble (Read 1532 times)

Yah exactly, Bitcoin has no central point of failure - it is unstoppable.

Even if the governments of India, USA, Russia, China and even big companies Apple, Amazon, all came together came out to make bitcoin illegal and said "do not use" it would do nothing and Bitcoin would continue its progress  and adoption

A word is certainly enough for the wise and all the reasons why almost all governments wanted Bitcoin out of the way, can be found in op and when you hear some bank executives and some people in government calling Bitcoin names, you now know that it's their conscience pricking them or simply scared of people are coming to know they've been in bondage all the while.

Bitcoin is freedom in every ramification and the most interesting part is that its decentralized nature is a technical knock out to the authorities, who ordinarily would have nailed its coffin long ago.

Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble

Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubble

Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.

Excerpt from article:
...
"...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks.

Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up.  
The Fractional Reserve Ponzi Scheme

The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes.
..."
[continues on]

But the person who made the statement is a billionaire and that holds some value.

LOL nice joke.

Its obvious as time goes on all of those have devalued. Just so others understand your joke:

the fiat from paycheck 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

the fiat from paycheck 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

the fiat from cash savings 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

the fiat from cash savings 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

the fiat from fixed income (ie social security check or fixed pension payment) 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

the fiat from fixed income (ie social security check or fixed pension payment) 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

Thank you though.

Such an incredibly stupid statement I wouldn't even know where to start.

How about this:

- paychecks have not been "devalued" over time
- cash savings has not been "devalued" over time
- fixed incomes have not been "devalued" over time

I guess that's a start.

Good, finally some people writing about Bitcoin being something beneficial! Not only that, they recognize the global economies are built entirely on an ever-inflating debt scheme which will never, ever get paid off and will have to collapse before anything happens! Who would have guessed they would make something that actually reflects reality (to some extent)?

Most of the time you never see any kind of positive comments about Bitcoin, seeing some people finally talk about the global economy being completely unsustainable, and Bitcoin being a hedge against the entire thing, is actually kind of nice to be honest. It doesn't have to affect the price at all; the news itself is good enough imo.

(snip)

Anyways, the article is completely right. I don't think that people realise how dangerous central banks can really be. Just take a look at zimbabwe and Venezuela, two very recent examples. We're not even in the 20th century, this is 21st century stuff. Both countries looked healthy before their hyperinflation began to overtake the entire economy. Things can happen so quickly. But people who live in a country that currently has good economic standards seem to not care about a decentralized movement or currency because they think that it's enough to have fiat.

It obviously can't be farther from the truth. But really, dumb people can hold their fiats all they want. I'll just keep buying bitcoin and hold it for the long term.

Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble

Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubble

Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.

Excerpt from article:
...
"...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks.

Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up. 
The Fractional Reserve Ponzi Scheme

The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes.
..."
[continues on]

Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble

Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubble

Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.

Excerpt from article:
...
"...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks.

Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up. 
The Fractional Reserve Ponzi Scheme

The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes.
..."
[continues on]

Can you point to me 1 person who 10 years ago put all their money into "fiat cash" and put it, say, under the bed.

Nobody does that. Why? Because a currency is not an investment. A currency is what you pay for things with and is what things are priced in.

Nobody holds cash as an investment. They hold:

- stocks
- bonds
- real estate
- cars
- boats
- fine art
- airplanes
- LLC stakes
- loans
- etc.

None of those are fiat cash. In fact, many people borrow "fiat cash" and buy assets so they are net negative (short) fiat cash. They have a mortgage on a house they need to pay off over time. They are negative "fiat cash"

So, the whole premise of what you are talking about is completely wrong. Nobody "saves fiat cash". Even a bank deposit isn't "fiat cash" as fiat cash has a zero return. It is always worth the same. A dollar is worth a dollar.

Can you point to me 1 person who 10 years ago put all their money into "fiat cash" and put it, say, under the bed.

Nobody does that. Why? Because a currency is not an investment. A currency is what you pay for things with and is what things are priced in.

I agree with the article that one of the symptoms of the current financial sittuation is the wage slavery. Its somewhat a solution to the existing problem, by having a numerous almost slave like labour that is so much in debt that it will serve as a good financial colateral.

As long as people can be sold into the debt bondage the system won't collapse, as it does not matter if the system is absurdal. If it has a free lunch in form of slaves, the efficiency is not important.