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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.
Dont ask questions you dont want thoughtful and complete answers on. Its not my responsibility to cater what I write to someones poor reading skills/speed.
If you can explain thing simply it likely means you don't understand the subject well enough yourself. Bullshiters talk a lot.
Brevity not = simplicity.
“Everything should be made as simple as possible, but no simpler.”
I said what I said as simply as those ideas can be conveyed, trimming off any more would not have provided a complete answer.
You are welcome to think that as well.. Me and my rich ass clearly don't understand based investment ::wipes his crying eyes with 100$ bills::. My huge pile of money would beg to differ.
Cringe all you want but dont tell me I dont know the basics of investments when I literally make enough income to live off my investments, support multiple homes, bought my first home at 16 years old, and crossed the millionaire line before I could even legally drink alcohol and I started life on welfare. My track record proves that if anything I know how to invest. The proof is in the pudding.
Like i said, its clear you know you lost as youve spent more time insulting my character than actually making a cognizant argument.
I am done here, all you have to offer is noise.
I don't say this next part to be rude, if you have not already check to see if you have autism or Asperger's.