Why Most Economists Hate Bitcoin
Want to know what inflation is and how it's played an effect on your money over the years?
Want to know what deflation is and why Satoshi Nakamoto designed Bitcoin in this way?
Check it out here:
VIEW VIDEO HERE^^^
Additional Reading:
Edward Griffin explains inflation in a very relatable way
Inflation vs Deflation
Downside to deflation
What a deflationary economy can look like, ushered in by BTC
Book Recommendations:
A History of Money and Banking in the United States by Murray Rothbard
A Monetary History of the United States by Milton Freidman
The Creature from Jekyll Island by Edward Griffin
The Bitcoin Standard: A Decentralized Alternative to Central Banking by Saifedean Ammous
Skin in the Game by Nassim Taleb
Why you no D.Tube/Dlive?
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Good informative video.I already knew some of these facts but really good presentation.I think I will come back for more of these videos.Thanks to you for creating this.Have a nice day my friend.
Thanks for taking the time to comment, happy to know you'll be back :)
Yeah,I am excited to find out what you are going to do next.
I still think how log this USA so goes on. Somewhere, this bubble must start to let out the air.
@heiditravels awesome and resteem it by me !
most economics have to make a living and who do you think pays for their work? Mostly government and big banks.
As they're representing a big entity the job becomes more political than economic with main stream media channels being heavily controlled meaning only a very select amount of information can be disseminated and unfortunately that will always support the banks and governement as they're the main stakeholders and probably own the media outlet.
They hate Bitcoin because they either don't understand it or they fear its potential impact on the existing financial order.
Good stuff, Heidi.
Griffin was a good place to go to understand how strings are pulled in US Inc.
Austrian economists love bitcoin and anything that provides for freedom in the market. But most other types of economists, most notably keynesians, prefer a control mechanism so they can adjust the economic factors. Some, like the Chicago Boys, aren't really Austrian, but have more in common with them than anyone else.
For the time being, BTC is inflationary. Until the last one is created, it continues to increase in quantity, which is the very definition of inflation.
The price going up due to supply/demand is price inflation.
Keep up the good work. TIMM often promotes your content through our site and social channels.
“People fear what they don't understand and hate what they can't conquer.”
Andrew Smith
I like watching you talk about things, that's a beautiful location, is that Florida?
You are right on about bitcoin being a store of value rather than a medium of exchange, not only because of the deflationary nature but also because of the transaction fees.
Just be careful when it comes to Saifedean Ammous. Like Andreas Antonopoulos they both have been raised to the skies even as they have a habit of glossing over some details of Bitcoin that they don't fully understand, appreciate as much or agree with. As intelligent as they may be, it's outright dangerous to put these men on too high a pedestal.
Don't get me wrong, you can learn a great deal from all of these people. Especially Friedman and Rothbard. But not even skin in the game is enough to stop some people from making mistakes and even from knowingly deceiving themselves.
This is what I think Ammous currently is doing. He's not really an Austrian economists as much as a "free banker" and he doesn't care much for Bitcoin being P2P in terms of payments themselves and for these to be like cash, as much as he wants Bitcoin to be a grassroots operation in terms of who runs the nodes and to be like "digital gold". In my opinion, this is a dangerous lean.
Bitcoin is antifragile, yes. Which is why you shouldn't fear forks for example. But as to what people consider Bitcoin to be, whatever that is remains far from incorruptible just as peoples minds can be corrupted or led astray.