fiatstandard

Bitcoin replaces existing technologies for saving and international money transfer. It is useful to think of the improvements bitcoin brings to the functions of central banking as technological upgrades. A clear picture emerges from the comparison of the full costs and benefits of bitcoin and fiat.#fiatstandard ,#fiat
Fiat is a manual technology, highly vulnerable to human error and exploitation. Bitcoin is a digital and mechanical, predictable technology with very high reliability.Instead of struggling with an average 14% supply inflation rate of government monies, bitcoin offers you a fixed supply with a predictable declining supply inflation rate.Instead of a monetary policy run by politicians and special interests, bitcoin offers perfect predictability and transparency.Instead of financing unaccountable, limitless government spending, bitcoin finances the development of cheap reliable energy resources all over the planet..Instead of shipping heavy lumps of rock across oceans and melting and recasting them, bitcoin uses proof of work to ensure far less human labor is involved, and far less security risk is incurred.Instead of fomenting violent and vicious power struggles domestically and internationally over control of the monetary system, bitcoin resolves the validity of its ledger voluntarily with electric power and no violence.Bitcoin cannot end war, but it can significantly dent the state’s ability to use inflation to finance war, and, perhaps more importantly, it massively reduces the spoils of war by taking the monetary system out of it. Rather than conflict and dominance, bitcoin allows the redirection of monetary energy to the development of cheap and plentiful energy for humanity.
If it were to experience annual appreciation of only 20% per year, a tenth of what it experienced in the last ten years, it would arrive at the 230 trillion nominal valuation by around 2050.