You know, it's really sad. It's been years now and the vast majority of people still have no clue what made Bitcoin special in the first place. This was supposed to be a social revolution like the Liberty Dollar was. Local businesses were supposed to be accepting Bitcoin directly and not just using trading services to convert it back to dollars on the fly. When you put your money in a bank, you're basically lending it to the bank and they can do whatever the hell they want with it. We have all had the power to be our own banks for years now and most of us are completely ignoring it. At some point, this just affirms my Christian belief that human beings are not basically good. And now here's the evidence. We get something so powerful and we just use it to build another casino.
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Gresham's Law: People hoard good money and spend bad money
Also, as long as people can borrow dollars, they'll be happy to borrow and spend them, after all, they're devaluing over time... It's just nobody wants to HOLD dollars, nobody (outside of like drug dealers) does have any significant cash balance. Everyone has some kind of asset, if they have anything at all.
Also, as long as people can borrow dollars, they'll be happy to borrow and spend them, after all, they're devaluing over time... It's just nobody wants to HOLD dollars, nobody (outside of like drug dealers) does have any significant cash balance. Everyone has some kind of asset, if they have anything at all.
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