Bitcoin Marketcap
$1.89T
Gold Marketcap
$16.30T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
Bitcoin Marketcap
$1.89T
Gold Marketcap
$16.30T
BTC Settlement Volume (24hr)
$12.90B
BTC Inflation Rate (next 1yr)
1.17%
CASEBITCOIN making the case for bitcoin every day
30 Aug 2019 | | Price when published: $9,540 (ROI since: +948%)
Bitcoin creates a system that allows for undistorted economic activity, and it achieves this through a fixed monetary supply, which is ultimately governed by a market consensus mechanism. It is through this consensus mechanism that bitcoin dispenses with the need for conscious control of central bankers, instead relying on the distributed knowledge of all market participants. It is also completely voluntary. If you like your financial system, you can keep it (for now at least). However, monetary systems tend to one medium so if a critical mass converge on bitcoin as the most credible long-term store of value, it may become less of a choice in the future. As individuals increasingly opt in to bitcoin, it will only make the issues present in the existing system more evident, which likely accelerates the need for quantitative easing. The greater the inclination to store wealth in bitcoin, the lower the demand to store wealth in the assets that support the existing credit system. In essence, an increasing shift to bitcoin will directly impact the system-wide credit impulse, which will accelerate the need for the legacy financial system to rely on quantitative easing to sustain itself.
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