Quote from: adamstgBit on March 31, 2016, 01:20:22 AM

Quote from: BirtRenaldsFan on March 31, 2016, 12:10:01 AM

Quote from: adamstgBit on March 25, 2016, 01:52:54 AM

i think bitcoin is much easier to understand then fiat
a toy for to help kids understand bitcoin would be a piggy bank with a bitcoin logo on it.
money in, money out
try explaining to a kid what happens when you deposit money in a bank....

bitcoin is probably closer to what people BELIEVE money is, then what fiat money actually is.

I always found there to be similarities. Explain what Fiat is to you in your own words perhaps?

Fiat is money backed by debt, when you borrow money to buy a car or a house *POOF* that money is created out of nowhere, your promise to pay creates that money.

Remember after 9/11 when the bankers came out and said " we found 4 billion dollar to fund the war on terror " what actually happened there is 4billion dollars was created out of nowhere. *POOF*

when money is created and injected into the economy, the value of each dollar goes down, why do you think the price of food is always going up Up UP!!! the price of everything tends to go up yearly. its called inflation

infact the banks target a 1-2% inflation rate

what may look like a large sum of money today will not be a large sum of money tomorrow
so poeple try to invest in assets or otherwise which causes speculative bubbles and distorts the markets
remember the housing bubble?

the economy is subject to boom and bust cycles.

but the worst part, is that there's a limit on how much you can borrow, but there's no limit on how much the government can borrow.

the government can choose to but itself in a HUGE amount of debt and fund whatever projects it feels like ( WAR! )
and we all pay for it with inflation.

fiat is a system with arbitrary rules ( complex and numerous ) which favor the ruling class.

Yeah that's so true. As long as they've got trees, the government can make as much money as they like. When it comes to issues like inflation, yeah, the price of things always goes up. Still though, doesn't Bitcoin have that same property of holding things and having prices for things go up?