Who do you think gets the benefit of the freshly printed fiat?
In the central bank cantiollionaire system, there are three classes of citizens:
1) jamie dimons, warren buffets and the like who get access to practically 0 cost lending rates
2) the ~60% of citizens with assets (e.g. stonks, real estate) that get pumped along with the money printer
3) everyone else
What do you think happens to "third class" citizens?
The rules are NOT the same for everyone under the central banking system.
The rules of btc will not change and become a multiple-tier system because of your feelings. Sorry.
I provided evidence (from NY fed) to your burden of proof request.
All one can ask is to have the same rules for everyone. Equal access. No special privileges.No cantillionaires.
If you are a cantiollionaire - good for you.
If you are not a cantiollionaire, then wtf are you defending a clearly corrupt system that further drives inequality and perpetuates cronyism? Is it because you want to be the person distributing freshly printed fiat?
Assuming your well founded intentions are to make the world less inequal via the money printer, the money printer has been proven to do the exact opposite.
If you want to properly critique btc, you can argue that there is a one time cantillon effect until hyperbitcoinization. Then you can get into the discussion of what happens to the people who don't have any. You could discuss UBI or other social systems.
Who do you think gets the benefit of the freshly printed fiat?
In the central bank cantiollionaire system, there are three classes of citizens:
1) jamie dimons, warren buffets and the like who get access to practically 0 cost lending rates 2) the ~60% of citizens with assets (e.g. stonks, real estate) that get pumped along with the money printer 3) everyone else
What do you think happens to "third class" citizens?
The rules are NOT the same for everyone under the central banking system.
The rules ARE the same for EVERYONE with BTC.
https://www.newyorkfed.org/medialibrary/media/research/staff...