Post
Topic
Board Economics
Re: Paper Money - The Greatest Scam
by
deisik
on 27/01/2019, 11:04:55 UTC
I would say that paper currency is the greatest scam ever to enslave mankind.

Bankers charge interest for a thing which has been created out of thin air.

The paper currency gradually decreases in its value due to inflation over time

So far Bitcoin doesn't even cut it as a genuine currency (in terms of adoption and use)

In this way the whole comparison of fiat with crypto doesn't make a lot of sense as you can meaningfully compare only things which share the same or similar metrics or characteristics. So how are going to compare Bitcoin with, say, the US dollar? If you take the USDX index change as a metric to compare against Bitcoin's price, then the result will be devastating for Bitcoin over the timespan of a year to date. Okay, you can claim that we should take a longer timeframe and in that case Bitcoin would be superior to the dollar. But what does it tell us from a practical point of view?