Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble

[centralbanksequalsbombs]

Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble

Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubble

Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.

Excerpt from article:
...
"...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks.

Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up. 
The Fractional Reserve Ponzi Scheme

The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes.
..."
[continues on]

(snip)

Anyways, the article is completely right. I don't think that people realise how dangerous central banks can really be. Just take a look at zimbabwe and Venezuela, two very recent examples. We're not even in the 20th century, this is 21st century stuff. Both countries looked healthy before their hyperinflation began to overtake the entire economy. Things can happen so quickly. But people who live in a country that currently has good economic standards seem to not care about a decentralized movement or currency because they think that it's enough to have fiat.

It obviously can't be farther from the truth. But really, dumb people can hold their fiats all they want. I'll just keep buying bitcoin and hold it for the long term.

Even more dangerous would be the reaction of all the peaceful citizens of the world after they found out the extent of fiat (institutional fraud) from central banks from nearly every country in the world.

Central Bank system perpetuates the worst funny-money games.

[centralbanksequalsbombs]

Bitcoin reaching $1 trillion market cap well before 2030 would be a trivial feat in this bizarre global fiat credit currency system.

[Pearls Before Swine]

Also, (I think) there's been a bill floating around congress regarding the metal content
of coins.  Those have already been devalued to death, but it costs more than 5 cents
to mint a nickel, and the 1 cent coin is close to that.  They are devaluing everything!

Canada has already got rid of the penny, and we're moving toward a system of money
where anonymity is impossible.  And I agree wholeheartedly that the Fed pumping
dollars into the system will eventually inflate everything beyond belief.  It's a scary,
crazy world we're living in.

[Yakamoto]

Good, finally some people writing about Bitcoin being something beneficial! Not only that, they recognize the global economies are built entirely on an ever-inflating debt scheme which will never, ever get paid off and will have to collapse before anything happens! Who would have guessed they would make something that actually reflects reality (to some extent)?

Most of the time you never see any kind of positive comments about Bitcoin, seeing some people finally talk about the global economy being completely unsustainable, and Bitcoin being a hedge against the entire thing, is actually kind of nice to be honest. It doesn't have to affect the price at all; the news itself is good enough imo.

[centralbanksequalsbombs]

Good, finally some people writing about Bitcoin being something beneficial! Not only that, they recognize the global economies are built entirely on an ever-inflating debt scheme which will never, ever get paid off and will have to collapse before anything happens! Who would have guessed they would make something that actually reflects reality (to some extent)?

Most of the time you never see any kind of positive comments about Bitcoin, seeing some people finally talk about the global economy being completely unsustainable, and Bitcoin being a hedge against the entire thing, is actually kind of nice to be honest. It doesn't have to affect the price at all; the news itself is good enough imo.

Yah its inspiring to see the discussion!

Hopefully it becomes clear to those still learning that Bitcoin reached escape velocity 4-years ago in 2013 which means it cannot be stopped - cannot make it illegal or legal - governments/banks do not matter.

On the opposite end of the spectrum the global fiat (US Dollars, Indian Rupees, Chinese Yuan, etc) bubble system broke a couple of decades ago.

Fiat around the world is forced to inflate issuance as its heavily infested, burdened and broken with:
-regulatory burden on fiat banks & system (incredibly costly)
-unemployment & other welfare costs
-inflating fiat to keep stock market rising and to keep house-prices from collapsing
-financing conflicts, bombs, and "aid"
-insurance fraud
-false claims and insurance loss-events
-stabilize regions after natural disasters
-keeping monopolies with internet access centralized and search engine crawlers centralized
-money laundering
-chargebacks
-frivolous legal costs (lawsuits bogging the system down)
-state-sponsored corruption and unofficial corruption (governments and gangs, banks and conartists)
-retirement obligations (debasement in value to keep up with payments from government or other retirement-obligations)
-fake credit (goods being transacted with credit-loss, replaced by inflation of monetary base rather than bringing perpetrators & source to justice)
-using enforcement labor to freeze accounts and assets and take away your money
-costs of auditors and budgetors and accountants to governments and businesses

Bitcoin, systemically, is free from these burdens.

[pingrabazar02]

Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble


Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.

Such an incredibly stupid statement I wouldn't even know where to start.

How about this:

- paychecks have not been "devalued" over time
- cash savings has not been "devalued" over time
- fixed incomes have not been "devalued" over time

I guess that's a start.

But the person who made the statement is a billionaire and that holds some value.

[centralbanksequalsbombs]

Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble


Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.

Such an incredibly stupid statement I wouldn't even know where to start.

How about this:

- paychecks have not been "devalued" over time
- cash savings has not been "devalued" over time
- fixed incomes have not been "devalued" over time

I guess that's a start.

But the person who made the statement is a billionaire and that holds some value.

Haha yah.

Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble
snip

Such an incredibly stupid statement I wouldn't even know where to start.

How about this:

- paychecks have not been "devalued" over time
- cash savings has not been "devalued" over time
- fixed incomes have not been "devalued" over time

I guess that's a start.

LOL nice joke.

Its obvious as time goes on all of those have devalued. Just so others understand your joke:

- paychecks have not been "devalued" over time

the fiat from paycheck 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

the fiat from paycheck 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

- cash savings has not been "devalued" over time

the fiat from cash savings 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

the fiat from cash savings 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

- fixed incomes have not been "devalued" over time

the fiat from fixed income (ie social security check or fixed pension payment) 10 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

the fiat from fixed income (ie social security check or fixed pension payment) 20 years ago buys today less (good) higher education, less rent (or purchase) of desirable real estate, less high-skilled labor for a new business, less good healthcare/hospital costs = DEVALUED

Thank you though.

[Victorycoin]

Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble

Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubble

Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.

Excerpt from article:
...
"...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks.

Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up.  
The Fractional Reserve Ponzi Scheme

The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes.
..."
[continues on]

A word is certainly enough for the wise and all the reasons why almost all governments wanted Bitcoin out of the way, can be found in op and when you hear some bank executives and some people in government calling Bitcoin names, you now know that it's their conscience pricking them or simply scared of people are coming to know they've been in bondage all the while.

Bitcoin is freedom in every ramification and the most interesting part is that its decentralized nature is a technical knock out to the authorities, who ordinarily would have nailed its coffin long ago.

[centralbanksequalsbombs]

Who woulda thought that decentralized open-source immutable scarce global currency would be the ultimate store of value?

[centralbanksequalsbombs]

Bitcoin: A Hedge Against The $152 Trillion Ponzi Debt Bubble

Article: https://cryptohustle.com/bitcoin-a-hedge-against-the-152-trillion-ponzi-debt-bubble

Global fiat issuance of currencies in the form of banknotes as well as credit has been devaluing the wealth of cash savings, fixed incomes, and paychecks.

Excerpt from article:
...
"...According to Bill Gross, a billionaire bond manager, Bitcoin has the potential to counter central banks.

Many people within the legacy system are critical of negative interest rates and quantitative easing, yet the fundamental problems are rooted at a much deeper level. The entire economic credit structure operates like a convoluted Ponzi scheme, and requires an overhaul from the ground up.  
The Fractional Reserve Ponzi Scheme

The history of banking goes all the way back to goldsmiths who issued out receipts for physical gold stored in their vaults. The gold was kept secure and the receipts were traded as the first paper notes.
..."
[continues on]

A word is certainly enough for the wise and all the reasons why almost all governments wanted Bitcoin out of the way, can be found in op and when you hear some bank executives and some people in government calling Bitcoin names, you now know that it's their conscience pricking them or simply scared of people are coming to know they've been in bondage all the while.

Bitcoin is freedom in every ramification and the most interesting part is that its decentralized nature is a technical knock out to the authorities, who ordinarily would have nailed its coffin long ago.

Yah exactly, Bitcoin has no central point of failure - it is unstoppable.

Even if the governments of India, USA, Russia, China and even big companies Apple, Amazon, all came together came out to make bitcoin illegal and said "do not use" it would do nothing and Bitcoin would continue its progress  and adoption

[centralbanksequalsbombs]

What would current estimates be of the current fiat supply/debt? Would it be above $152 trillion now? Or under?

[centralbanksequalsbombs]

As Bitcoin's market cap grows, how much pressure does that put on fiat/debt issuance total? Does it pressure it to expand or contract fiat in supply?

[centralbanksequalsbombs]

Yah exactly, Bitcoin has no central point of failure - it is unstoppable.

Even if the governments of India, USA, Russia, China and even big companies Apple, Amazon, all came together came out to make bitcoin illegal and said "do not use" it would do nothing and Bitcoin would continue its progress  and adoption

Judging from some other posts on the forum, it appears some don't quite understand this fact?