FIAT currency is any currency established as money by governments but does not have intrinsic value. Simply put, it is not backed by any asset.
They will soon see the purchasing power of their asset/income being diluted by unlimited money printing. They will soon realize the problem caused by money printing favors the rich and punishes the middle class and the poor.
“Bananas grow on trees. Money does not, and bitcoin is the force that reawakens everyone to the reality that was always the case.”
Bitcoin, as a construct outside existing financial systems, poses a potential solution to the fundamental problems with fiat money that have been created over the last 50 years.
Bitcoin is a real revolution. It’s a multifaceted revolution that has been gaining momentum block after block for more than eleven years now. Once you really get a sense of what Bitcoin can do for the world, there is no turning back.
Two hundred years ago the Bank of England was forced to confront some of the same questions it faces today: What is money? What should it be made of? What does it represent? And what should be done regarding the attendant problems of counterfeiting?
Money — the magical power it has over people is almost universal. But whether we earn it, spend it or save it, we hardly ever think about the following questions: What is money? Why does it exist? What will money look like in the future? And why should we think too much about it? Our money works. Day in, day out, we use it without much effort. So what’s the problem?
Bitcoin has come a long way in 11 years but is just getting started. There is a huge community of people around the world dedicating their lives to Bitcoin. Their numbers grow and they are absolutely committed to the concept of sound money and the societal and economic improvements this will bring. Through exploring this new technology and dedicating many hundreds of hours to understanding the space, I now count myself amongst them.
Our politics and money is all tainted with lies and uncertainty. Bitcoin is pure truth as you have the ability to continuously validate its history and all of its protocol rules that make it Bitcoin. You don’t have to trust anymore, you can simply verify.