-
Money printing causes long-term economic instability through distorted price mechanisms. Bitcoin fixes this by having a fixed monetary supply that is predictable, impossible to change and ultimately kept at 21 million units.
Debasing money induces moral hazard and thereby inferior products. If prices go up you can either compromise on the quality of your products or your sale price goes up and many choose the former. Bitcoin fixes this by being honest money.
On top of that money printing sooner or later leads to inflation and the Cantillon effect which distributes wealth from the poor to the wealthy, increasing the income inequality. Bitcoin fixes this by removing the hierarchy of who is closest to the money printer.
Central bank money printing is equal to slavery, stealing an average of 7.6% working hours per year since 1981 is equivalent to enslaving 11.7 million people for 40 years straight. In terms of absolute human time stolen per year, fiat currency is the largest pyramid scheme in institution of slavery in human history. Bitcoin fixes this by eliminating the money printer and giving no one control of the monetary supply.
-
In 2008 zombie companies got paid out during the financial crisis, instead of a naturally leveraging of unsuccessful companies and markets as a whole central banks cause asset inflations. Bitcoin fixes this by allowing undistorted market activity and letting zombie companies fail giving better-led companies the chance to rise up.
The whole fiat world is run on debt; to defeat that you need to create more debt thereby stealing from the future. Quantitative easing leads to further quantitative easing. The inevitability of every fiat currency is its collapse through hyperinflation or lack of trust in the currency. Bitcoin fixes this by making investments saving based and not debt based.
The GDPs of countries like El Salvador and Tonga are through an extent driven by remittances. Middlemen take up to 50% in fees for these transactions. Bitcoin fixes this by being open borderless and almost feeless into the lightning network.
-
Corruption prevented 30% of all development assistance from reaching its final destination. Bitcoin fixes this by making a peer-to-peer without corrupt intermediaries.
Racial and gender discrimination makes it harder for some people around the globe to access the financial system like everyone else. Bitcoin fixes this by not knowing your name, age, gender or ethnicity, whether you are women coding in Afghanistan seeking financial freedom or a black male in a racist environment. Bitcoin is the most inclusive financial system ever created.
A president of a Country has not a single right more than a farmer. 1.7 Billion adults don't have access to the financial system. Bitcoin fixes this by reducing the number of unbanked people.
In El Salvador 70% of the people are unbanked. This will change rapidly now that Bitcoin is legal tender in the country: everyone with an internet connection can plug into the Bitcoin financial system. Freedom protesters in Belarus, Nigeria and Hong Kong had their bank accounts frozen and their funds ceased. Bitcoin fixes this by being censorship resistant. No one can stop a Bitcoin transaction from happening or cease your account.
-
A huge percentage of energy gets stranded, which means it can't be easily stored transported or used by society. Bitcoin fixes this by being an energy buyer of last resort leading to faster infrastructure refinancing and incentivising green energy.
Bitcoin clearly has many parallel narratives moving forward: a store of value, an inflation edge, an uncorrelated financial asset, censorship resistant money, a cheap and open payment system through the lightning network, a world reserve currency, a world reserve asset, or a first layer of a truly decentralised financial system. There is not one single simple vision.
Some people are in it for number go up, others are in it to free the world of slave drivers and authoritarians, and this is how it should be: Bitcoin has no ruler, leader or governance: it's a decentralised network that everyone can use for whatever they want and also build on top of it. Bitcoin is many in one; it's the evolution of gold, the previously best money the world had ever seen, and the revolution of fiat.
-
Jack Mallers: "This is money that is software: if there something that's missing you build it."
Andreas Antonopulos: "People are beginning to notice that this is something more than what they are told."
Jack Dorsey: "Bitcoin changes absolutely everything."
Jack Mallers: "I mean you really want to bet against engineering? and betting against engineering is betting against humanity and human life itself."
"I want everyone to please start learning about a new financial system. This system is called Bitcoin, it was created for this very purpose."