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1) its not a debt centric economy, money is invested and you gain, you need not go into debt.
2)the people at the low end do not hold money or any other form of wealth, likewise their wages rise to match the inflation on average. So they are not harmed by inflation. (as was shown earlier with the average hourly rate vs inflation chart)
> There is truth to the fact that encouraging people to invest their wealth rather than save it puts capital into the economy, but people could already do this with savings banks.
No this is actually the very point your disputing. Inflation encourages investment, you take that wad of cash and put it into the economy so it can work to build things and pay wages... putting money into a bank causes that money to be loaned out, so puts someone in debt on the other side. So in fact using the bank system to just sit on a wad of cash is a "debt-centric economy" where as inflation where people are storing their money in mutual funds or other low-risk investments is far less so a debt-centric economy.
It is always when a person doesnt have a leg to stand on in their argument they resort to personal attacks.
I have had more than enough success predicting economic events and profiting off them to have proved my understand of economics. You're welcome to disagree of course, but it doesnt appear based on understanding, just your personal dogma (which is why your having a fit when your dogma is debunked).
Well for starters they arent taking wealth out of US dollars, no more than someone is doing so when they take US dollars and invest in anything. They are doing exactly what I said responsible people should do, that is, invest their US dollars rather than hoard it. Since bitcoin is a growing technology still being adopted it is a growing asset and not acting like a fiat (yet)
But to answer your question, why bitcoin (or other cryptocurrency for that matter).. simple, because they add function that doesnt exist, just like any technology. They allow for instant transfer of money across borders, unlike the hassles of something like western union. It enables trustless contractialization of money (no reliance on courts and lawyers but instead using systems like Stacks to enforce money contracts), and enables automatic, garunteed, and provable accounting. No one in their right mind is buying up bitcoin simply because its some fixed fiat and nothing else.
your logic it flawed. Investing is not simply moving money around for one. people are putting money into bitcoin (rather than "investing locally") because people are losing confidence in the us dollar and so are converting their wealth while they can .
The main thing to understand is that inflation fast or slow is bad for the economy, what hyperinflation shows is when public trust of fait (fuck fait btw) is dissolved. when the us dollar is weaken, us dollar users suffer.
It does not make it okey if the dollar is apple to buy an apple for 9 years then on year 10 it takes 2 dollars to buy an apple. If every year it takes 10 percent more to buy an apple to where after 10 years it costs ten years, you will not have made it "desirable" to invest.
Do you understand, It does not make it okey if the dollar slowly louse's value or quickly, its still bad and robbery.
Inflation does not promote investing locally, your assuming how people react or how people react. Inflation destroys purchasing power and hurts commerce.
Both are bad the only difference is one is easily noticed by the average pleb.
You seem confused about money and wealth as you keep using them interchangeably... No its not just moving money around.. it **is** moving wealth around (which is what I said).
