Jimmy Song is a well-known Bitcoin developer, writer and entrepreneur. In his new paper, he explains why there is no balance in the world economic system and explains why Bitcoin can solve the problem. You can read this article below.

The system has no balance. We can all see in the luxurious mansions of the wealthy San Francisco that only a few blocks away from the poor tents of the homeless. We can well feel this in individuals and certain businesses that do nothing better for civil society but earn ridiculous amounts of money. We can understand this by looking at those who are just as eager to spend money, and on the other hand, we are witnessing a very difficult situation for those whose debts have crushed their souls.

It is clear even to a five-year-old child that the system serves certain individuals and leads others to destruction.
But the reason for its unfairness is not entirely clear, and this in itself is the source of most political confusion.
Leftists believe that the rich are abusing the poor.
Right-wingers also believe that the poor have become lazy because of their laziness.
What is the truth? What is happening and why is the system unbalanced?

The current currency is unfair

At the root of the unfairness of the current system is money. This is not the first place that people pay attention to, but all logical analysis is guided by it. The system is unfair, because money itself is unfair.

To prove this point to you, let's start with something we've seen for four months. Governments around the world have spent very easily. But where does that money come from? Who pays for all those stimulus packages, subsidies and benefits? The amount that governments have paid over the past few months in emergency measures to revive the economy is staggering. These figures are much higher than what they collect from taxes.

There are two possible responses to this government spending:

+This money is not from any individual (receiving something without paying a price)

+This is a hidden cost and people have paid the price with something else.

How does common money work?

Is it really that simple? Can we help someone who needs help by printing more money without having bad consequences? Can we get anything in return?

If it's really that simple, a clear question arises. If the government can only print money to pay for everything, why pay taxes at all? If the central bank or the US government can spend $ 6 trillion to revive the economy, and that has no other effect, then why not print $ 60 trillion or $ 300 trillion so that all Americans can become millionaires?

This does not happen (according to logic) and proves that we cannot take anything but something in return. It is a ridiculous lie to tell people that they do not pay for government services.

Contrary to our wishes, we cannot get anything without paying. Such claims, promoted by government officials in economics, are tantamount to claiming the construction of permanent motion machines in physics: impossible.

The price of government printing is less for the people; What we call "inflation." The question may be, then, why in the United States, despite the printing of money, the Consumer Price Index (CPI), or the rate of price growth, has remained between 2 and 3% for some time?

The dollar has what is called an "exaggerated score." Excessive scoring is the result of a specific history event, or in other words, the outcome of World War II. The high score means that by converting its currency into a global reserve currency, the United States imports goods from around the world with its official currency and, at the very least, suffers from a monetary crisis.

What is the difference between Bitcoin?BTC

Bitcoin has two unique features that make it a very fair system. First of all, it is almost impossible to forge it. Anyone who gets the Bitcoin blockchain and becomes a full node can easily check that the bitcoins are real (note: BCH and BSV are not bitcoins). Therefore, bitcoin is easily recognizable and cannot be forged. Did.

Second, the number of bitcoins available is determined from the beginning and it is impossible to inflate it. To manipulate inflation, the entire community of full nodes (directly) and bitcoin holders (indirectly) must agree to it (which they will not do). Therefore, bitcoin reserves are limited.

The two characteristics mentioned above make it very difficult to obtain a tacit / secret tax and lead us to an open and just government. With Bitcoin, no government can print money to fund its programs. The government must save the income of previous years, reduce other programs, or be honest with the people and publicly tax them. Despite Bitcoin, the loophole with which the United States prints money and taxes all dollar holders is closed, and spending must be offset by revenue.

Orsem view that money belongs to anyone who owns it reveals a fundamental truth: the monetary expansion violates the property rights of anyone who owns money. Bitcoin is the first currency to fulfill the ideal of the society's Ormism: money belongs to the owner of the money and the institutions cannot demand it with violence and threats. Bitcoin is the first currency that made it impossible for institutions to misuse money. It is not possible to increase bitcoin inflation without everyone's consent. According to the Bitcoin standard, the only way for governments to increase revenue would be to satisfy the public to collect taxes, not to steal through inflation.

Conclusion

The current monetary system of the world is a kind of oppression. The Federal Reserve is an independent organization and has no responsibility to voters.
Worse, the dollar-based monetary system means that inflation is exported to people outside the United States. The hegemony of the dollar is a system of oppression, where the wealth of the world is controlled by one organization and it can collect taxes without anyone's consent.
The slogan of the American Revolution has been "never tax without a representative." An organization is taxed all over the world; An organization in which rich and powerful people are represented. It's time to end the Federal Reserve

This is not the first time such talks have taken place. Ron Paul, one of America's greatest politicians, wrote a book about it a decade ago.
But now, we have the opportunity to do something for ourselves without the help of the broken American political system.
We can buy bitcoins and declare our monetary independence.
True justice is achieved through economic justice.
Justice means a system that is not unbalanced.
Bitcoin drives the system towards meritocracy.
Bitcoin destroys systematic injustice.