The USD is tulip mania. Bitcoin is not.

in #bitcoin4 years ago

This graph presents indisputable facts: US dollar growth as reported by the US government, and Bitcoin growth (for all time), as determined by pure math.

We wish that this would put to bed the fake news, conspiracy theories, and “nothing backs it” nonsense. Unfortunately, seismic shifts in architecture or process take time for society to absorb. Mark our words: early adopters will be the fortunate buckos. Bitcoin cannot be manufactured, and despite it being open-source, it is very unlikely to be displaced by an altcoin or ICO.

Since the Bretton-Woods agreement the entire Western world has drunkenly surrounded and gorged themselves the Federal Reserve punch bowl, which has allowed the US government to rise to an artificially and unsustainable position of world economic dominance.

It's not conspiracy talk to discuss the end of this phenomenon. It's mere mathematical analysis - borrowing on credit ALWAYS incurs future payments or future defaults. It's one or the other. Can't be both. And the longer the US gov. pushes off the decision between the two, the harder the crash will be. 

This stands entirely opposed to the intentionally and irrevocably capped supply of bitcoin (and many crypto assets). Whereas most of the reputable crypto assets guarantee a hedge against inflation by definition, fiat currency literally encourages it. There is a DISincentive to capping growth in a fiat currency system. A money regulator is penalizing himself to not print more. 

We can't wait until we are all able to leave this punchbowl and never return.

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