This is an opinion editorial by Dan, cohost of the Blue Collar Bitcoin Podcast.
Series Contents
Part 1: Fiat Plumbing
Introduction
Busted Pipes
The Reserve Currency Complication
The Cantillon Conundrum
Part 2: The Purchasing Power Preserver
Part 3: Monetary Decomplexification
The Financial Simplifier
The Debt Disincentivizer
A “Crypto” Caution
Conclusion
A Preliminary Note To The Reader: This was originally written as one essay that has since been divided into three parts. Each section covers distinctive concepts, but the overarching thesis relies on the three sections in totality. Part 1 worked to highlight why the current fiat system produces economic imbalance. Part 2 and Part 3 work to demonstrate how Bitcoin may serve as a solution.
Unprecedented debt levels that exist in today’s financial system spell one thing in the long run: currency debasement. The word “inflation” is tossed around frequently and flippantly these days. Few appreciate its actual meaning, true causes or real implications. For many, inflation is nothing more than a price at the gas pump or grocery store that they complain about over wine and cocktails. “It’s Biden’s, Obama’s or Putin’s fault!” When we zoom out and think long term, inflation is a massive — and I argue unsolvable — fiat math problem that gets tougher and tougher to reconcile as decades march on. In today’s economy, productivity lags debt to such an extent that any and all methods of restitution require struggle. A key…
