Fixing the world's economy starts, from fixing the money problem.

[Odusko]

If this is the case,then money will not solve the world's most biggest problems, because cause money is never the real problem.Anybody that makes money a solution needs a reminder that even a fixed money system won’t work when leaders are corrupt,people lack financial literacy and the system always rewards the weak instead hard work.Money is not the bedrock to values and morals,the values are broken and needs a refix.

We already knows that obvious fact that Money is never the problem of man when we talk about economic progress and financial growth, financial illiteracy is worst then poverty itself the reason you see someone with huge amount of money but still yet have. Life full of financial crisis raising from inability to properly manage oneself.

[Emjay24]

Fixing individual financial life is what fix the economy, since the economy doesn't exist in a vecum and thrive on the activities of individuals to become an economy, once those individuals have a balance financial life, then the economy will have less burden and easier to fixed and move forward after all.

You are correct, fixing an economy is much easier when individuals are fixed since when strong economies are built from educated, productive and even healthy individuals. When individuals are able to improve themselves and their skills, make a living from honest means and create real value, the economy would respond positively and grow naturally.

The government can go on to support the individuals by providing good infrastructures like good roads, startup grants and power to enable individuals thrive and that way, gradually the economy would be fixed. It is always the individuals that needs to be fixed first.

[Itz-prisigold]

My favorite part of this topic is looking into something many people don’t think of,  how money influences people’s behavior. When the system is very easy to manipulate,  it encourages people to think about short term goals,  chronic debt habits,  and suggests they get involved with politics.  That's definitely true.

But at the same time,  I don't think that money is the  issue when it comes to global issues,  and I think many people think it is. Bad money truly make issues worse,  but it does not create them by itself. Poor leadership,  weak institutions, corruption,  and poor human behavior have existed for a long time before modern money was invented.

Bitcoin brings some powerful and great ideas like fixed supply, rule,  and less central control. It increases the manner in which value can be stored and transported. But with good money, a society still need good leadership,  good education, the rule of law, and good governance.

So to me it’s not about what we think is the end, fixing money itself does not fix everything,  but better money creates better systems. But only when those systems are combined with better leadership and strong institutions,  only then is meaningful progress possible.

[Hanadawa]

I don't think the problem is the fiat system failing, but the fiat doctrine that has proliferated over generations.

I think the real problem started with imperialism which help to start using money as a commodity. We start see commercial banks that all its activities is to offer different monetary products which is a non productive service. From that era, people like governments started accumulating money for other purposes than exchanging with products/services. Many people think that the crisis had started with the dollar but the problem has already started long before.

When paper money was first used as a commodity and currency, it initially seemed like a brilliant idea. People didn't need to carry tangible exchange tools like gold and silver. They were given paper that represented the "value" of their wealth. But problems began when this belief became widespread and banks began manipulating data. I once read an article that said a bank had $10,000 worth of gold reserves, but they could issue notes worth over $100,000 from their bank accounts. Since then, the financial system has been in trouble. Inflation, debt, and government corruption can occur because money is just a piece of paper worth nothing. Some people can become very rich while others become very poor because the value of money continues to decrease due to inflation, and inflation is an inescapable cog of modern finance. I even heard a friend say that inflation must be around 2% to keep the economy turning and the country from being on the verge of crisis. By the way, I think if we still used the gold and silver exchange system today, no country would collapse due to hyperinflation like Venezuela, Argentina, or Zimbabwe.

[Rabata]

When a person has sole power, he will want to misuse that power. Countries where only national leaders have sole dominance always keep the country backward by committing corruption. They destroy the country's resources to increase their personal assets. By borrowing or loan, they convert the money into personal wealth. It is very natural that if such an attempt is made, the financial situation of that country will be destroyed gradually. The inflation rate will increase a lot, which will directly negatively affect the common people of that country.

If we now say about the issue of Bitcoin, we can easily see that even if the government is in power, it will not be able to increase the amount of Bitcoin. It has no power to print currency and add it to the market. There will not be more than 21 million coins in the market. The investment of those who invest will rather continue to increase over time.

[Jody.Drummer]

Perhaps we can agree that almost everyone experiences the same problem, namely finances, and I am sure that everyone who experiences financial problems wants to improve their financial situation. One way to do this is to work, but finding a job is quite difficult because looking for work is not easy, as evidenced by the high number of unemployed people. There are people who genuinely strive to find decent work with adequate income, but I am not surprised that there are also those who complain about the difficulty of finding work because it is indeed difficult. Improving one's financial situation is a desire shared by many, but not everyone is fortunate enough to be able to do so.

[pooya87]

We actually don't have any money in existence and bitcoin comes closest but it is too volatile. Everything else we have is currency like fiat.

But the main issue is not as simple as "fixing the money, fixes the world". The problem is in the educational system. Let me put it this way, if you have universities that spit out PhDs who are taught "earth is flat", you cannot complain why everything else is broken too. We have to first fix the educational system to teach them "earth is round, not flat" then everything else is fixed.

For now the system is teaching them the same broken economic system where things are mostly built based on debt and credit. Governments print money to cover their budget deficit. They play around with interest rates to battle the inflation they caused themselves, and a lot of other crazy things.
Fix that and majority of economic problems will be fixed.

[Jerusalem12]

But unfortunately, there are many who dislike Bitcoin and continue to deny that it's truly a solution to various problems.

This isn't because they're brainless, but rather because of various vested interests and their lack of control over the people, as Bitcoin can't be controlled like citizens choose other assets for investment or transaction purposes.

It appears that despite the fact that many well-known people and big businesses have already made long-term investments in Bitcoin, many people continue to reject it as a viable remedy
for financial issues.

It's even legal tender in some nations, isn't that right? My research indicates that El Salvador is among the countries that have taken
this action in the crypto world that we currently inhabit. Am I correct?

[justdimin]

My favorite part of this topic is looking into something many people don’t think of,  how money influences people’s behavior. When the system is very easy to manipulate,  it encourages people to think about short term goals,  chronic debt habits,  and suggests they get involved with politics.  That's definitely true.

But at the same time,  I don't think that money is the  issue when it comes to global issues,  and I think many people think it is. Bad money truly make issues worse,  but it does not create them by itself. Poor leadership,  weak institutions, corruption,  and poor human behavior have existed for a long time before modern money was invented.

Bitcoin brings some powerful and great ideas like fixed supply, rule,  and less central control. It increases the manner in which value can be stored and transported. But with good money, a society still need good leadership,  good education, the rule of law, and good governance.

Gold coin was invented thousands and thousands of years ago, I would say that it's part of our culture now and even part of our species. So it is not really possible to say "there were problems even before money was invented", sure paper money as we know was invent more recently than that, but you think people were doing barters just two hundred years ago? They were using gold coins and silver coins and making trades that way. This is why it's quite possible to say that money IS the biggest problem.

Obviously it's not the only one, like if you get cancer today you will realize that you can have a billion dollars in cash and still nothing can be done sometimes, you will get a better care and you may survive once or twice but eventually if the cancer is insisting enough, you will die and it won't be pretty, no matter how rich you are.

[okae]

BTC is not a remedy for all the economy problems but a good one partially solution IMHO, fixed supply is a must,  thats why when FiAT was backed for gold everything was going much better.

Anyway i really think that in a "perfect world"/"very advanced evolutionated world" humands will not need money any more, in last years i start to see BTC like a transition for a better humand future, when humanity is ready we will use BTC for almost everything, when humanity is more than ready we will stop using any kind of money, even BTC...

Sorry for bring a little bit of philosophy to the thread but ey! i feel like i must say it

[XZERO1]

The form of money is not the main case of economy collapse in different countries.

That being said there are parts that can cause problem with using fiat, though indirectly, like probably the main issue that will lead to economic issues and devaluing currency down the line is lack of any, or at least proper transparency.

When you have a whole country of people that are holding this national currency and their whole lifeline is depending on it, but the supply and how often more of it gets printed is unclear, and that data is either not publicly available or can be potentially tampered with, it will cause major issues with its value sustainability, the second part of this transparency issue is regarding to the amount of debt a country currently has which again adds to the doubt surrounding trust issue that people have holding a national currency.

But even if all the data on the amount of debt and printing is totally public and people can look it up, people still will have their doubts since debts do exist and so do the printings, and whether the data is publicly available or not, printing and debt is bad and will damage economy in the long run, hence why crypto can partly help with that with it's limited maximum supply and its on-chain transparency including both circulating supply and daily transactions which people can validate themselves.

[abhiseshakana]

The root of global economic disaster not the money but people who control the system and people who choose to brokeit. Human greed, desire to control or dominated, satisfaction of being better than other, and moral hazard damage global economy. Can you imagine if people who have political and economical power has this moral hazard and strong will to dominate and control ? We can take inflation as example, it is not only about printing money but caused by greed and group interest which trying to move risk from powerfull party to society.
Bitcoin can not waive wealth gap especially when it already owned by elite or big capital group, because this party has acess and power to control and manipulated the system through regulation, trade and industry monopoly, media, energy cartel, supply chain control, so money will always be center of conflict and decided who will be survived. Money never be neutral and will never be interest free. Bitcoin can not get rid elite and can not eliminate structural domination in global economy and majority people who owned bitcoin not for money revolution but for fullfill their greedy for more money through speculation and some also FOMO. Greed already systemic and institutionalized on every level so almost imposible to fix global economy condition. I am pesimist with access distribution, power ethique, world good governance, public morality and productive culture, because the root is human passion with all of its ambitions, if people don't change impossible society condition will improve.

[r_victory]

It's how it should be, but it isn't. Bitcoin should be accessible to everyone, but it's in the hands of a few and in large quantities. What should be freedom without borders has become a speculative asset in the hands of those who already possess the money and who will not give it up. They don't want to use it as a means of payment, only as a way to get even richer. The theory of Bitcoin is wonderful; the current practice is completely different.

[tygeade]

BTC is not a remedy for all the economy problems but a good one partially solution IMHO, fixed supply is a must,  thats why when FiAT was backed for gold everything was going much better.

Anyway i really think that in a "perfect world"/"very advanced evolutionated world" humands will not need money any more, in last years i start to see BTC like a transition for a better humand future, when humanity is ready we will use BTC for almost everything, when humanity is more than ready we will stop using any kind of money, even BTC...

Sorry for bring a little bit of philosophy to the thread but ey! i feel like i must say it

It is not going to fix the whole problem, but it is a good attempt to at least bring in some quality. Simplest idea is that there are 21 million only, so bitcoin can't be owned by everyone in the world, not 1 bitcoin at least.

And considering all the money that is gone (burned) and forgot (people who can't access their bitcoins) we can safely say that there are even less than 20 millions, maybe like 17-18 million left that can even be considered a possibility, maybe less. That brings in equality, instead of governments who keep on printing money like there is no tomorrow and do not care about making more debt. Bitcoin is the way money should be used, not fiat, and if we had bitcoin system in fiat, we would have been doing better right now.

[Findingnemo]

Bitcoin isn't created to fix the world economy, it just want to give the individual an opportunity to pick their money which is not controlled, but if we try to attempt the world problem with bitcoin, it will just clog the network and transactions will stuck forever. Bitcoin is good but don't think it is the ultimate solution for everything, we need people to change if we want to solve the problems that exists in the society.

[Berry2d]

Bitcoin isn't created to fix the world economy, it just want to give the individual an opportunity to pick their money which is not controlled, but if we try to attempt the world problem with bitcoin, it will just clog the network and transactions will stuck forever. Bitcoin is good but don't think it is the ultimate solution for everything, we need people to change if we want to solve the problems that exists in the society.

Yes I agree to that, the work of bitcoin is different from fixing the worlds economic challenges but rather serves as an individuals tool for financial libration and enhance financial stability for those willing to gain financial stability or freedom. Some mistake bitcoin for economic satisfactory tool without knowing that there are different ways of resolving economic challenges apart from the introduction of bitcoin as bitcoin is an independent tool who's primary objectives is to help propel people to financial stability which salary can not afford to do for people know matter how hard we work.
As for fixing economic challenges, its the work of the government which can be done by the adaptation of different policies depending on the one that best suits there problems.

[Darker45]

This 'fix the money, fix the world' thing is obviously exaggerated. Although it's a big deal, a broken monetary system isn't the root of all evil. Human nature itself is problematic, perhaps necessarily problematic.

But I'd easily agree with the formula 'fix the money → incentives improve → society improves'. Bitcoin definitely improves society a lot. The Bitcoin standard would elevate how society works, but it certainly doesn't make it heaven on earth, doesn't even curb corruption, poverty, and other economic, social, cultural, and other maladies.

[rat03gopoh]

but rather serves as an individuals tool for financial libration and enhance financial stability for those willing to gain financial stability or freedom.

So, isn't the implication of achieving financial stability an improvement in the global economy? One of the challenges to a better economy in general is improving the financial condition of individuals.

I can't connect Bitcoin to financial stability. My understanding is that this ideal must be realized through concrete activities supported by fair policies, not simply relying on entities whose true purpose is not that. A concrete example is the outcry of disappointment out there when the crypto market crashed.

[Berry2d]

but rather serves as an individuals tool for financial libration and enhance financial stability for those willing to gain financial stability or freedom.

So, isn't the implication of achieving financial stability an improvement in the global economy? One of the challenges to a better economy in general is improving the financial condition of individuals.

I can't connect Bitcoin to financial stability. My understanding is that this ideal must be realized through concrete activities supported by fair policies, not simply relying on entities whose true purpose is not that. A concrete example is the outcry of disappointment out there when the crypto market crashed.

Its true achieving financial stability is an improvement in the global economy which bitcoin plays a vital role in improving individual financial condition but in a decentralized form. We all know bitcoin is not generally recognized as a strategic means of reshaping individuals financial life globally and investment is done at individuals risk so it can never be identified as a tool for fixing the worlds economic challenges except it is globally recognized and practiced as a legalized institution, after all it is not all country that legalize bitcoin investment in there country.

[Saltysugar99]

Its true achieving financial stability is an improvement in the global economy which bitcoin plays a vital role in improving individual financial condition but in a decentralized form. We all know bitcoin is not generally recognized as a strategic means of reshaping individuals financial life globally and investment is done at individuals risk so it can never be identified as a tool for fixing the worlds economic challenges except it is globally recognized and practiced as a legalized institution, after all it is not all country that legalize bitcoin investment in there country.

Even if the government does not legalize Bitcoin, there is no problem. With time, if all people come to Bitcoin acceptable mindset , then there will be no problem with the government legalizing it or not. If I want to buy a house in the future with my accumulated holdings and if the owner of that house accepts Bitcoin, then I can buy the house from him in exchange for Bitcoin. There will be no problem with the government legalizing it or not. But people still see Bitcoin as an asset. This means that they want to use it for future financial security. There are many who want to hold it for a short time and use it like fiat currency. Since there are two types of people who use Bitcoin differently. Again, some countries have legalized it, some countries are looking at it positively, some countries are looking at it negatively. So it is not possible to keep Bitcoin within any specific rules. This is the nature of Bitcoin. People can freely use Bitcoin, hold it, and even distrust Bitcoin. They have this right.