FROM AN EMAIL FROM BITCOIN.COM
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Unlike dollars, there will only ever be 21 million Bitcoin
“Paper money eventually returns to its intrinsic value – zero.” -Voltaire, 1694-1778
The history of fiat money (ie. money issued by government decree) shows that governments consistently increase supply far beyond demand. This invariably leads to devaluation of the currency over time, something that we experience as inflation. Looking at some examples:
The U.S. dollar has lost 96% of its value since 1913
The euro has lost 40% of its value since 1997
The pound has lost 99.602% of its value since 1751
“It’s going to be very hard to unseat bitcoin as a store of value, because it’s got a 14-year brand, and there’s a finite supply.” — Billionaire investor Stanley Druckenmiller
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I have put some spare change into ₿ and bullion on the off chance that the USA goes into a hyperinflation. Based on the spending by Congress and the “printing” by the FED — The Federal Reserve Bank is a misnomer. IT ain’t “federal”. It reserves nothing. And, it ain’t a “bank”. It is a private cartel of the elite banks run for their benefit and that of the entrenched politicians. — I think more and more that this is a distinct probability. Look at Turkey, Venezuela, Nigeria, and many other countries. That’s what a runaway inflation looks like.
YMMV FWIW FAIWWYPFI
“Bullets, beans, bandaids, bullion, booze in a safe retreat” — Unknown
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