Post
Topic
Board Economics
Re: People don't understand the problem with monetary system.
by
KingsDen
on 14/08/2023, 12:17:59 UTC
...my attention was directed to the ignorance of people in the adoption of bitcoin , and as usual they all revolved within the circle of a lack of knowledge and understanding of fiat money problem.

An average citizen wants to get a job and be paid hourly, weekly or monthly. An average citizen wants to start a business and earn daily. What they want is to earn and save in banks, use it to return market to buy more goods, buy properties with it, pay hospital bills and other bills and most importantly live a comfortable life. Not everyone and not many people wants to know the economics of fiat, whether or not it is losing value. They don't even care if there is a problem with the fiat system.

...we can draw a conclusion that given a critical attention we will agree that nearly all the people that have adopted bitcoin, using it as alternative of fiat money are people who have an understanding of  monetary system  wholly and how bedeviling it (fiat) has been to citizens financial freedom and privacy due to intricacies of government regulatory policies surrounding it.

Nearly all the people that adopted bitcoin did so because of its volatility. For the price to be able to rise and give profits, that's all. Except the few early adopters, almost everyone one that adopted bitcoin did so for the ROI. It is when some invested that they discovered that there are other things bitcoin offer.