Welcome to Incremental Social! Learn more about this project here!
Check out lemmyverse to find more communities to join from here!

makeasnek , (edited )
@makeasnek@lemmy.ml avatar

The government controls it and they use it to gradually decrease the portion of supply your hard-earned money represents. They aim for 2-3% inflation in a "good year". That's the nice countries, ask any Argentinean how they feel about who controls that money printer. Monetary inflation mostly impacts the poor and middle class who have more of their net wealth in cash whereas rich people have their money safely stored in assets like stocks or land. So the government controls the money printer.

Unless you use Bitcoin. Then the protocol (nobody) controls it. And it's controlled to never make more than 21 million BTC. No person, even if they had a trillion dollars, even if they bought every Bitcoin in existence, even if they had 1000 guys with AKs, no person could make Bitcoin print an extra BTC it wasn't intended to print. Or spend money that they didn't have the private key for. That's a money printer I can trust. It's faithfully done this for 15 years without a single hour of downtime, bank holiday, or being hacked and has a market cap that places it in the top 20 countries by GDP all while experiencing continual growth and adoption. But it's a fad right? That has no purpose? A scam? And on year 16 you'll finally be proven right?

  • All
  • Subscribed
  • Moderated
  • Favorites
  • random
  • incremental_games
  • memes@lemmy.ml
  • meta
  • All magazines