Post
Topic
Board Bitcoin Discussion
Re: Why is Bitcoin the Dubmest Thing Ever Invented
by
Medusah
on 21/05/2024, 22:41:01 UTC
Wait, what? There's no evidence? It is a common knowledge that units of fiat currencies are created by commercial banks issuing loans and by central banks purchasing government bonds. Did you live under a rock all the time?

Did you take the time to go through my message?  What occurs if the central bank opts to generate money out of thin air?  There's no value generation involved— just the introduction of new debt devoid of any intrinsic value.

There's no evidence supporting the notion that fiat currencies are backed one-to-one by value; in fact, evidence suggests the contrary.  There is disconnection between the creation of money and tangible assets.