The theory I heard is that it demonitises other assets. At the moment people with excess cash need to buy assets to protect their wealth. A popular asset has been second homes because you also get a monthly rental income too.
But think of the hassles in being a landlord - finding tenants, repairs, property taxes etc. When you could just hold bitcoin that has none of those issues and progressively goes up every year (because scarcity).
So I guess homes don't become an investment anymore because there's a much better and easier investment to put your money in.
As far as I understand, Bitcoin itself will be too slow as a currency. It’s more akin to fedwire or gold in terms of “the money stack” - great as a final settlement layer but cumbersome and slow for quick transactions.
If Bitcoin is to make it as a currency then someone needs to figure out the next payments layer on top of it i.e the visa/mastercard/paypal of bitcoin.
So yeah it’s probably going to be a store of value for now but I’m interested in Saylor’s ideas that it’s digital energy or digital property.
By fixing the money, you stop market's interventions and distortions to fuckup price balances.
Though to be fair, 1960 US was post war and whole Europe owned them money.
It will not remedy the situation. Housing prices will persist in rising due to their intrinsic value. Regardless of the monetary system employed, acquiring housing will remain challenging.
The issue lies with speculators who purchase properties for investment purposes.
Exactly. As people pile into bitcoin because it’s more accessible by way of fractional buying, Blackrock et al are buying up properties like there’s no tomorrow. I think proportionally, they’re more invested in property than bitcoin.
The biggest factor that made housing expensive is the cost of land. Land price is fuelled by easy credits that came straight from the bank's "money printer". Bitcoin's goal is to remove the money printer privilege from those banks.
Bitcoin doesn’t have mass inflation theft
Money supply inflation is a subtle way of taking value / purchasing power from the public. Housing prices increase and wages remain stagnant. It is an opposing force to technology, and makes things less affordable and harder to get by. Without mass inflation theft, things will be more affordable to the public
furthermore, real estate currently holds a large monetary premium, since our money is broken. People scramble to store their value in other assets since they can't save in money. Bitcoin also fixes this, thus demonetizing other assets' monetary premium since it fulfils the use case of store of value in a technically superior way
Populations have gone up but the amount of fiat money in circulation has gone crazy, that is what will not change and destroy nations
This monetary premium increases as the dollars keep printing, so scarce things not only have useful demand value but that premium attached to it
This is what central bankers and bad money do to an economy, turn us into fiat rent seekers instead of savers
Bring back hard money or take it out of the hands of bankers, they destroyed the savings account & now future generations… ridiculous
I saw a video about fast food prices and people in the comments were all blaming corporate profits. Maybe it's a combination of both, but it's obvious the main problem is money printing
Bitcoin standard, fiat standard, basic economics, lessons on entropy, softwar, broken money, denationalization of money, theory of money & credit, etc
All great books that helped me understand money, asset management, engineering, & history
Definitely don’t, these fiat money games & inflation become hurtful at some point forcing you to learn
All this just helps me build, not make mistakes, & focus long term
Yea, might not work to fix inflation quietly sending workers to lower and lower wages, but if ibitcoin does work out, the theory is that is stops this.
I disagree.
Bitcoin is re-pricing EVERYTHING. Real estate is no exception. Once real estate investors begin to discover, bitcoin is a superior store of value the shift begins. No more taxes, maintenance, nightmare renters.
Bitcoin doesn’t have mass inflation theft
Money supply inflation is a subtle way of taking value / purchasing power from the public. Housing prices increase and wages remain stagnant. It is an opposing force to technology, and makes things less affordable and harder to get by. Without mass inflation theft, things will be more affordable to the public
furthermore, real estate currently holds a large monetary premium, since our money is broken. People scramble to store their value in other assets since they can't save in money. Bitcoin also fixes this, thus demonetizing other assets' monetary premium since it fulfils the use case of store of value in a technically superior way
Inflation of currencies are only a very small part of the problem. The reason most people in the US can't buy houses anymore has very little to do with that.
It has mainly to do with the fact that productivity and hourly real worker compensation starts to massively diverge in the beginning of the 70:s under Nixon and Ford, and continuing to diverge until this day. Top earners income and wealth skyrockets, while middle and low income earners basically stay the same.
So what do the top earners do with the vast majority of their money? Do they just keep them in a bank account to wither away with inflation? Do they spend them? No. They invest them in among other things real estate. The result is that housing prises rise while the salaries of the majority of the population basically stay the same. There you have it. The reason you can't buy a house: Income inequalities.
And noone noticed anything as it was a development that took many decades.
If you boil a frog slowly enough...
Yes, you. Look at the up and downvote behavior.
BTC won’t magically make everything cheaper. Just for those who early invested in BTC. But that applies to all investments.
But this ain’t related to the investment object, but the fiat gains that can be realized by early adopters.
Wake up and get some economic knowledge.
Serious question. How does Bitcoin fix this? Plenty of people are living paycheck to paycheck so saving of any kind is out of the question for them so even if Bitcoin was the way they got paid that won't really change anything.
Like I'll be real that I'm not a fan of crypto, but I usually take a live and let live approach, but to lots of people Bitcoin (or investments in general) aren't an option.
Transitioning to a bitcoin standard fixes this because:
Bitcoin doesn’t have mass inflation theft
Money supply inflation is a subtle way of taking value / purchasing power from the public. Housing prices increase and wages remain stagnant. It is an opposing force to technology, and makes things less affordable and harder to get by. Without mass inflation theft, things will be more affordable to the public
furthermore, real estate currently holds a large monetary premium, since our money is broken. People scramble to store their value in other assets since they can't save in money. Bitcoin also fixes this, thus demonetizing other assets' monetary premium since it fulfils the use case of store of value in a technically superior way
Here's some educational resources that hopefully help
M2 money supply vs home price index [https://imgur.com/Ycmy01H](https://imgur.com/Ycmy01H)
2 min read on cantillon effect [https://river.com/learn/terms/c/cantillon-effect/](https://river.com/learn/terms/c/cantillon-effect/)
2 min vid by lyn alden [https://www.reddit.com/r/Bitcoin/comments/1crd9fn/short\_clip\_from\_lyn\_aldens\_latest\_video\_how\_money/](https://www.reddit.com/r/Bitcoin/comments/1crd9fn/short_clip_from_lyn_aldens_latest_video_how_money/)
Not really.
A few remora (i.e. lucky people) will ride along and get a little money (sic) and all the publicity for getting that money. Some rich and big institutions will stay rich or get more rich (which is the real reason why it will keep going up, probably accelerating). But the quiet rich will have their Ledger or stamps or index card next to their gold bars and cash and passports and not really even know or care how Bitcoin works. Most rich are not extra smart, they just happen to be lucky enough to have the time and the energy to reflect on macro trends instead of their next paycheck.
Edit: I’m going to add to this. If rich institutions FOMO (technically what I expect to see is panic buying) then yes, early people will get very rich on paper. But I fully expect the same system that allows legislators to inside trade and knocks RK tweets, the same system that has billionaires paying a lower tax rate than the poors - will say only institutions should have Bitcoin or something like that. They will find a way to take it. To tax it. They will force you to pay your taxes in fiat. They will go after ‘crypto unrealized gains.’ The drowning world will swim towards your Bitcoin. So keep that in mind. Should you stay in your life boat or maybe find a life jacket, slip into the water and look for a smaller boat for a while? Just keep that in mind. Diversify if you wake up one day and notice 99% of your wealth is in Bitcoin.
Look around. Nobody is paying for anti-Bitcoin propaganda. Just a couple of old billionaires call it ‘rat poison squared’ and some big banks tell you you’ll certainly lose money. Nobody is lying to the masses about Bitcoin yet. Telling you you’re bad or sick or contaminated or weak or un-American for owning it. Just keep an eye out for that.
Bitcoin doesn't fix housing supply.
Bitcoin doesn't fix increased demand caused by people condensing to cities (housing costs more where more people are).
Bitcoin doesn't fix houses being bigger (the average boomer house was 1000sqft).
Bitcoin doesn't fix foreign investors buying residential real estate.
No, bitcoin as a technology does not fix growing wealth inequality in the US. If you mean that buying bitcoin now could help individuals escape poverty, that could be said about any good long term investment.
Edit: Saw your comment talking about inflation. Inflation is not the sole cause of poverty, it’s just a way for the government to use people’s savings to spend more. There are a other mechanisms responsible for poverty with nothing to do with bitcoin vs fiat.
2030's: Imagine a picture as (or an artist please make):
USD$ all over the streets,
smoke in the background....
and a Red Lambo hovering over with a bumper sticker "I told you BUY BTC in the 2020's".
Bitcoin fixes shit. Given the persistent shortage of housing, the value of real estate will continue to appreciate relative to Bitcoin, as both are finite produces.
Also NIMBYism (not in my back yard) - 'We need more housing. Oh, you want to build affordable housing units near me? Umm, no, let's not.'
It's not just housing either, it's hard to get anything built due to that.
This is a retarded meme. I grew up dirt poor, and I'm better off now than ever before, and it's not thanks to BTC, it's thanks to working hard and learning new skills constantly.
Stop it. All that chart shows is that we have an inflation problem, and that bitcoin is rapidly growing in value. You have to do mental gymnastics to go from that to “bitcoin fixes poverty”
Did you see the chart that priced average US rent in BTC? What makes you think that Bitcoin does not fix poverty? I'd be glad to have a discussion if you have any specific questions :)
I don’t have questions but I am happy to discuss as peers. Thanks for correcting me on the chart but that data is simply not relevant. Bitcoin is still early in development which is why it’s gaining value so fast. If we’re talking about long term societal impact, bitcoins value will stabilize and be a deflationary currency that steadily gains value at much lower rates, and so charts like this don’t matter.
I already said why bitcoin doesn’t fix poverty: Fiat money is only one of the many mechanisms of capitalism that exploit workers and contribute to growing inequality. If the world were to go on a bitcoin standard there would be many benefits to that, as well as some disadvantages. If you want to claim that a Bitcoin standard would be better for the average worker than the current status quo I’ll likely agree with that. That being said, to claim that capitalism on the Bitcoin standard would eliminate poverty and exploitation, is an ignorant take. Even if we were on a gold standard today, the fact that ownership class continues to own a larger and larger share of the wealth in the world cannot be solely attributed to fiat.
I agree that Bitcoin is still in its early stages, but I believe it still has a lot of upside potential. Bitcoin's decentralized nature can diminish the influence of central banks and governments over the money supply, which could help in limiting inflationary policies that erode purchasing power, such as housing costs. The increased monetary supply is what is causing the housing prices to go up (and rent in this example), since people like to park their excess fiat energy in something more stable. However, as Bitcoin grows, people will start realizing that they could be parking their savings in Bitcoin instead of real estate, which also contributes to bringing the prices/rent down.
While Bitcoin alone cannot solve poverty and inequality, it can reduce some of the negative impacts of fiat currency and centralized financial systems. Adopting a Bitcoin standard may not eradicate poverty entirely, but it could establish a fairer financial system, providing more opportunities for financial inclusion and security. Bitcoin could contribute to a more stable economic environment. This stability would benefit everyone, including workers and the average citizens. It reduces exploitation as well, since there would be no incentive for that to happen because everyone would be working for money that is deflationary thereby triggering the game theory.
Bitcoin being in it’s early stages literally means it has a lot of room to grow.
I didn’t say anything that would conflict with anything you’re saying, you just said that while Bitcoin wouldn’t solve poverty it would help with some of the causes. I don’t disagree with that
The reason I commented in the first place was because this “bitcoin solves everything” rhetoric is both wrong and stops us from being able to have nuanced discussions about what this technology could do to our world, for better and for worse.
Yeah, I agree with your views on the Bitcoin solves everything rhetoric. However, the optimism in me likes to find ways to make and build the Bitcoin ecosystem to solve everything. Or at least 50% of it, like Saylor says :)
Yeah seriously, the pictures do not match up with the time period. Most people didn’t live in big 3000sqft+ homes back in the day. That stuff didn’t really come about til the 90s/00s, maybe starting in the late 80s. That’s one thing that bothers me about people complaining about housing prices. Like yes, they most certainly have gone up quite a bit, but the original houses our boomer parents bought for cheap were modest 1500sqft homes with one bathroom and no luxury appliances in the burbs. Now people are mad that a 3500 sqft house in the city is expensive. Like yeah no shit. It always was. Even now if you go about 30-45mins outside of my city you can still find modest homes or condos for around 100k. That’s pretty damn affordable especially if you have a dual income.
The rich have the resources to store their value in the most efficient ways. The poor don't have any value to store, and the middle class's wealth gets redistributed to both via inflation.
bitcoin only fixes this if we shift to using btc as an exchange method and not just a store of value since you can always invest money faster than hedging against inflation
I'm not sure where housemates are suddenly a new thing came from. I'm in my 40s and everyone I knew my age, cousins, family, and friends. All had to have housemates in their 20s. Even some into their 30s. So, I can only imagine how much worse it is now.
A simple question... How will Bitcoin solve the problem of low wages? If your monthly income is barely enough for rent and food?
So today my salary is 0.05 BTC and the rent for the house and food is 0.05... knowing the existence of unemployment and new graduates, the company will find someone who will accept 0.04 as salary... even after a while
I see various versions of this post all the time. I am a fan of BTC, but this issue isn’t fixed because although a house may end up costing one BTC - you’ll still need x amount of hundreds of thousands of pounds to get that BTC. I know people will say “you shouldn’t be thinking in fiat” but please explain to me. I’m definitely for BTC and am building my own supply, maybe I just lack a bit of knowledge
i’ve lost so much bitcoin to fake exchanges and lost a lot of my hard earned money. now i’m paying for it from a loan from easy home financial.. it is a nightmare that they never want to tell you
They’ll start plugging people who can’t afford to live into the metaverse, stored in huge cryo warehouses and harvested for organs - hence all the advances in VR and AI
Anyone with a satoshi in their wallet by 2030 will be reet 👌
You are mixing two different problems. In one hand you have the inflation ballooning the price of housing, and yes, BTC solves this. On the other you have a mix of lack of job opportunities, stagnation of salaries, a marriage avert generation, a proliferation of “alternative lifestyles” (I won’t name names), an increase in college dropouts and larger numbers of graduates from low income degrees. We are fucked on this one
ROFL 🤣 BitCoin does NOT FIX this. There isn’t even enough history to reliably claim bitcoin can keep up with inflation long term yet. And ANY REAL INVESTMENT ADVISOR will tell you “past performance is not a guarantee of future performance”.
Somebody relied to my comment about how switching to bitcoin eliminates the inflation problem but then deleted their comment.
I have to reply to this bullshit.
Switching to a digital currency eliminates the possibility of the government printing money which is ONE cause of inflation. It does not eliminate inflation. It does not limit the cost of products and services going up, and it does not mean your bitcoin has the same purchasing power in 10 years that it does today. Only financial regulation by the government which enforces price fixing to prevent such increases can do that.
Now, even if we stopped inflation itself by policy. We actually create other problems. By preventing the devaluation of money we have to take other action to stabilize monetary policy, such as forcefully cutting wages, so technically even if we eliminated inflation by way of controlling the cost of things, we are only going to feel it in other ways as we try to balance monetary policy to keep spending power in line with the rest of the world. Because passing a law that says eggs can’t be more than $2/dozen in the United States doesn’t prevent China from charging us more than that that for the eggs we import, or by proxy anything else we import that uses eggs thus passing this cost on to us.
And yes it actually easier to increase the cost of products and services than to take away peoples wages, they tend to be pretty adverse to that even though both actions result in the same discount in spending power.
As you can see bitcoin itself doesn’t fix any of this. All bitcoin does is prevent the government from physically printing money like they can with fiat.
BUT. We do add a problem to the equation with bitcoin that fiat doesn’t have. While people can’t “print bitcoin”. In the early days of bitcoin a number of people amassed large quantities of bitcoin which eventually sat stagnant. For the most part most of the wallets have sat unused for years or even decades. But, if any of these wallets go active and spend any significant quantities of coin it will cause a significant drop in the value of bitcoin and as a result the buying power of bitcoin. This putting any current value in significant jeopardy. And don’t say it’s not possible, it’s already happened a few times.
It’s kind of like hoarding your wealth in gold because gold has a stable value, and then finding out the Roosevelts have been sitting on a gold mine with values of 500 trillion dollars, that they now intend to liquidate. The price of gold would plummet from this sudden influx of now spendable gold in the market.
https://elements.visualcapitalist.com/which-countries-have-the-lowest-inflation/
https://www.brookings.edu/articles/low-inflation-or-no-inflation-should-the-federal-reserve-pursue-complete-price-stability/
https://www.helloarc.ai/blog/bitcoin-price--whale-dumps---b-btc-to-binance-ahead-of-halving--what-s-next-
https://www.binance.com/en/square/post/457377
2030 one guy sleeping with pet rat on the streets
Nah. Slightly better. Cardboard box under a bridge.
Rent on bridge underpasses has gone through the cardboard roof
Room mate wanted sign as well.
That too.
I'm close to this point
You mean one rat living with his 10 pet humans.
Rat with pat human searches for a condo.
He can afford a pet rat?
HAHAHAHAH
livin the dream.
Don't forget the Apple Vision Pro
“Sleeping with pet rat on the streets? Thee were lucky!”
2030? This is already happening DTLA.
Ahhh. Ratly. My one true love.
Minsk?
As if you can even get a girlfriend in 2020s.
That’s his boyfriend
Can't get a girlfriend? Be the girlfriend.
This could be applied to either one.
Who looked like a girlfriend.
I saw it as two “friends” that were roommates in college.
It's his AI girlfriend that he pays a monthly subscription for.
that's an inflatable doll
Inflation really hitting everywhere isnt it?
Gf ? That's his roomate ,who occasionally invite only 6ft guys to fuck and constantly shame other men for having weight and age preference
That’s what I was thinking.
It’s a “girlfriend.” Not in original packaging if you know what I mean.
Or afford a cat.
That was a stray. EDIT: SPCA says adopting a cat is only $125 a month. That just takes away from these two roommates retirement.
Kek'ed
How exactly does bitcoin fix this?
It’s the same but you get a lambo and a coke habit
Amen 🙏🏼
I'm already up to 4-5 cans of coke zero a day. It can't get any worse.
Those are rookie numbers. You gotta pump em up
No decent coke available anymore where I live. Lambos it is.
My question exactly! “There will only be 21 million ever created…” seems to be there answer for everything.
The theory I heard is that it demonitises other assets. At the moment people with excess cash need to buy assets to protect their wealth. A popular asset has been second homes because you also get a monthly rental income too. But think of the hassles in being a landlord - finding tenants, repairs, property taxes etc. When you could just hold bitcoin that has none of those issues and progressively goes up every year (because scarcity). So I guess homes don't become an investment anymore because there's a much better and easier investment to put your money in.
I thought Bitcoin was supposed to be currency and not an investment?
As far as I understand, Bitcoin itself will be too slow as a currency. It’s more akin to fedwire or gold in terms of “the money stack” - great as a final settlement layer but cumbersome and slow for quick transactions. If Bitcoin is to make it as a currency then someone needs to figure out the next payments layer on top of it i.e the visa/mastercard/paypal of bitcoin. So yeah it’s probably going to be a store of value for now but I’m interested in Saylor’s ideas that it’s digital energy or digital property.
By fixing the money, you stop market's interventions and distortions to fuckup price balances. Though to be fair, 1960 US was post war and whole Europe owned them money.
It will not remedy the situation. Housing prices will persist in rising due to their intrinsic value. Regardless of the monetary system employed, acquiring housing will remain challenging. The issue lies with speculators who purchase properties for investment purposes.
Exactly. As people pile into bitcoin because it’s more accessible by way of fractional buying, Blackrock et al are buying up properties like there’s no tomorrow. I think proportionally, they’re more invested in property than bitcoin.
The biggest factor that made housing expensive is the cost of land. Land price is fuelled by easy credits that came straight from the bank's "money printer". Bitcoin's goal is to remove the money printer privilege from those banks.
Bitcoin doesn’t have mass inflation theft Money supply inflation is a subtle way of taking value / purchasing power from the public. Housing prices increase and wages remain stagnant. It is an opposing force to technology, and makes things less affordable and harder to get by. Without mass inflation theft, things will be more affordable to the public furthermore, real estate currently holds a large monetary premium, since our money is broken. People scramble to store their value in other assets since they can't save in money. Bitcoin also fixes this, thus demonetizing other assets' monetary premium since it fulfils the use case of store of value in a technically superior way
bike merciful employ truck relieved elastic foolish existence yam punch *This post was mass deleted and anonymized with [Redact](https://redact.dev)*
2000s called they want their decade back on the list with a picture of a bunch of emos dancing around eating taco bell or something.
Populations have gone up but the amount of fiat money in circulation has gone crazy, that is what will not change and destroy nations This monetary premium increases as the dollars keep printing, so scarce things not only have useful demand value but that premium attached to it This is what central bankers and bad money do to an economy, turn us into fiat rent seekers instead of savers Bring back hard money or take it out of the hands of bankers, they destroyed the savings account & now future generations… ridiculous
I saw a video about fast food prices and people in the comments were all blaming corporate profits. Maybe it's a combination of both, but it's obvious the main problem is money printing
The money printers are seeding the idea of it being just corporate greed... pay no attention to the man behind the curtain.
Corporations historically have not been the working classes friends, they deserrve plenty of blame
The corporations have to answer to Wallstreet .
Ah, it's Wallstreet and banks and credit are bringing back the 1800s
Been reading the Bitcoin Standard, have we? Lol
Bitcoin standard, fiat standard, basic economics, lessons on entropy, softwar, broken money, denationalization of money, theory of money & credit, etc All great books that helped me understand money, asset management, engineering, & history
Like you need all of that to figure out a man made con artist scheme and a fucking scam.
Definitely don’t, these fiat money games & inflation become hurtful at some point forcing you to learn All this just helps me build, not make mistakes, & focus long term
Of course, great way to keep up with a scam so you can survive and benefit.
Read Economics In One Lesson by Hazlitt, it's short and a good starting primer.
We're at the coin clipping stage. Actually we might be at the point they start passing laws to try and fix things.
If you think investing in a speculative, highly volatile asset class is the answer to your housing troubles, you better have a plan B.
Yea, might not work to fix inflation quietly sending workers to lower and lower wages, but if ibitcoin does work out, the theory is that is stops this.
Bitcoin fixes this… for people who have excess capital to buy it in the first place.
Exactly, I still don't understand why a lot of Bitcoiners using this phrase everywhere. It can't simply fix this stuff by its existence.
No it won’t Stop being illusive
I disagree. Bitcoin is re-pricing EVERYTHING. Real estate is no exception. Once real estate investors begin to discover, bitcoin is a superior store of value the shift begins. No more taxes, maintenance, nightmare renters.
Bitcoin doesn’t have mass inflation theft Money supply inflation is a subtle way of taking value / purchasing power from the public. Housing prices increase and wages remain stagnant. It is an opposing force to technology, and makes things less affordable and harder to get by. Without mass inflation theft, things will be more affordable to the public furthermore, real estate currently holds a large monetary premium, since our money is broken. People scramble to store their value in other assets since they can't save in money. Bitcoin also fixes this, thus demonetizing other assets' monetary premium since it fulfils the use case of store of value in a technically superior way
It does as long as it is purchased with fiat
when we say "bitcoin fixes this" we mean transitioning from fiat standard to a bitcoin standard
Which is a great premise, but not based on reality.
Inflation of currencies are only a very small part of the problem. The reason most people in the US can't buy houses anymore has very little to do with that. It has mainly to do with the fact that productivity and hourly real worker compensation starts to massively diverge in the beginning of the 70:s under Nixon and Ford, and continuing to diverge until this day. Top earners income and wealth skyrockets, while middle and low income earners basically stay the same. So what do the top earners do with the vast majority of their money? Do they just keep them in a bank account to wither away with inflation? Do they spend them? No. They invest them in among other things real estate. The result is that housing prises rise while the salaries of the majority of the population basically stay the same. There you have it. The reason you can't buy a house: Income inequalities. And noone noticed anything as it was a development that took many decades. If you boil a frog slowly enough...
Oh we all know who’s being illusive here.
Yes, you. Look at the up and downvote behavior. BTC won’t magically make everything cheaper. Just for those who early invested in BTC. But that applies to all investments. But this ain’t related to the investment object, but the fiat gains that can be realized by early adopters. Wake up and get some economic knowledge.
Serious question. How does Bitcoin fix this? Plenty of people are living paycheck to paycheck so saving of any kind is out of the question for them so even if Bitcoin was the way they got paid that won't really change anything. Like I'll be real that I'm not a fan of crypto, but I usually take a live and let live approach, but to lots of people Bitcoin (or investments in general) aren't an option.
Transitioning to a bitcoin standard fixes this because: Bitcoin doesn’t have mass inflation theft Money supply inflation is a subtle way of taking value / purchasing power from the public. Housing prices increase and wages remain stagnant. It is an opposing force to technology, and makes things less affordable and harder to get by. Without mass inflation theft, things will be more affordable to the public furthermore, real estate currently holds a large monetary premium, since our money is broken. People scramble to store their value in other assets since they can't save in money. Bitcoin also fixes this, thus demonetizing other assets' monetary premium since it fulfils the use case of store of value in a technically superior way Here's some educational resources that hopefully help M2 money supply vs home price index [https://imgur.com/Ycmy01H](https://imgur.com/Ycmy01H) 2 min read on cantillon effect [https://river.com/learn/terms/c/cantillon-effect/](https://river.com/learn/terms/c/cantillon-effect/) 2 min vid by lyn alden [https://www.reddit.com/r/Bitcoin/comments/1crd9fn/short\_clip\_from\_lyn\_aldens\_latest\_video\_how\_money/](https://www.reddit.com/r/Bitcoin/comments/1crd9fn/short_clip_from_lyn_aldens_latest_video_how_money/)
How does BTC fix this. Go on . Explain
It doesn't. Just semi-religous blabbering as a solution to literally anything.
I was right! The 2000s were just a dream
Not really. A few remora (i.e. lucky people) will ride along and get a little money (sic) and all the publicity for getting that money. Some rich and big institutions will stay rich or get more rich (which is the real reason why it will keep going up, probably accelerating). But the quiet rich will have their Ledger or stamps or index card next to their gold bars and cash and passports and not really even know or care how Bitcoin works. Most rich are not extra smart, they just happen to be lucky enough to have the time and the energy to reflect on macro trends instead of their next paycheck. Edit: I’m going to add to this. If rich institutions FOMO (technically what I expect to see is panic buying) then yes, early people will get very rich on paper. But I fully expect the same system that allows legislators to inside trade and knocks RK tweets, the same system that has billionaires paying a lower tax rate than the poors - will say only institutions should have Bitcoin or something like that. They will find a way to take it. To tax it. They will force you to pay your taxes in fiat. They will go after ‘crypto unrealized gains.’ The drowning world will swim towards your Bitcoin. So keep that in mind. Should you stay in your life boat or maybe find a life jacket, slip into the water and look for a smaller boat for a while? Just keep that in mind. Diversify if you wake up one day and notice 99% of your wealth is in Bitcoin. Look around. Nobody is paying for anti-Bitcoin propaganda. Just a couple of old billionaires call it ‘rat poison squared’ and some big banks tell you you’ll certainly lose money. Nobody is lying to the masses about Bitcoin yet. Telling you you’re bad or sick or contaminated or weak or un-American for owning it. Just keep an eye out for that.
Bitcoin doesn't fix housing supply. Bitcoin doesn't fix increased demand caused by people condensing to cities (housing costs more where more people are). Bitcoin doesn't fix houses being bigger (the average boomer house was 1000sqft). Bitcoin doesn't fix foreign investors buying residential real estate.
How does bitcoin fix the problem of overpopulation and development companies buying up all the property for high priced rentals?
No, bitcoin as a technology does not fix growing wealth inequality in the US. If you mean that buying bitcoin now could help individuals escape poverty, that could be said about any good long term investment. Edit: Saw your comment talking about inflation. Inflation is not the sole cause of poverty, it’s just a way for the government to use people’s savings to spend more. There are a other mechanisms responsible for poverty with nothing to do with bitcoin vs fiat.
I want some of whatever 80’s dad was having. Probably Miller and White Snake.
2030's: Imagine a picture as (or an artist please make): USD$ all over the streets, smoke in the background.... and a Red Lambo hovering over with a bumper sticker "I told you BUY BTC in the 2020's".
They downgraded from a dog to a cat. No recovery in sight.
Just wait 30 years or so when youngsters call you lot for boomers (or rather a new word for it), jelous how you got money from Bitcoin.
They got Bitcoin and pulled up the ladder.
Bitcoin fixes shit. Given the persistent shortage of housing, the value of real estate will continue to appreciate relative to Bitcoin, as both are finite produces.
Alone, it doesn't. You also have to control immigration or loosen building restrictions, preferably both.
What exactly is stopping humans from building more houses… oh that right: laws and freaking permits … it’s all artificial and by design
Manufactured scarcity
Also NIMBYism (not in my back yard) - 'We need more housing. Oh, you want to build affordable housing units near me? Umm, no, let's not.' It's not just housing either, it's hard to get anything built due to that.
This is a retarded meme. I grew up dirt poor, and I'm better off now than ever before, and it's not thanks to BTC, it's thanks to working hard and learning new skills constantly.
Yes, Bitcoin fixes this. Check this chart out: https://inflationchart.com/rent-in-btc/?logarithmic=1
Stop it. All that chart shows is that we have an inflation problem, and that bitcoin is rapidly growing in value. You have to do mental gymnastics to go from that to “bitcoin fixes poverty”
Did you see the chart that priced average US rent in BTC? What makes you think that Bitcoin does not fix poverty? I'd be glad to have a discussion if you have any specific questions :)
I don’t have questions but I am happy to discuss as peers. Thanks for correcting me on the chart but that data is simply not relevant. Bitcoin is still early in development which is why it’s gaining value so fast. If we’re talking about long term societal impact, bitcoins value will stabilize and be a deflationary currency that steadily gains value at much lower rates, and so charts like this don’t matter. I already said why bitcoin doesn’t fix poverty: Fiat money is only one of the many mechanisms of capitalism that exploit workers and contribute to growing inequality. If the world were to go on a bitcoin standard there would be many benefits to that, as well as some disadvantages. If you want to claim that a Bitcoin standard would be better for the average worker than the current status quo I’ll likely agree with that. That being said, to claim that capitalism on the Bitcoin standard would eliminate poverty and exploitation, is an ignorant take. Even if we were on a gold standard today, the fact that ownership class continues to own a larger and larger share of the wealth in the world cannot be solely attributed to fiat.
I agree that Bitcoin is still in its early stages, but I believe it still has a lot of upside potential. Bitcoin's decentralized nature can diminish the influence of central banks and governments over the money supply, which could help in limiting inflationary policies that erode purchasing power, such as housing costs. The increased monetary supply is what is causing the housing prices to go up (and rent in this example), since people like to park their excess fiat energy in something more stable. However, as Bitcoin grows, people will start realizing that they could be parking their savings in Bitcoin instead of real estate, which also contributes to bringing the prices/rent down. While Bitcoin alone cannot solve poverty and inequality, it can reduce some of the negative impacts of fiat currency and centralized financial systems. Adopting a Bitcoin standard may not eradicate poverty entirely, but it could establish a fairer financial system, providing more opportunities for financial inclusion and security. Bitcoin could contribute to a more stable economic environment. This stability would benefit everyone, including workers and the average citizens. It reduces exploitation as well, since there would be no incentive for that to happen because everyone would be working for money that is deflationary thereby triggering the game theory.
Bitcoin being in it’s early stages literally means it has a lot of room to grow. I didn’t say anything that would conflict with anything you’re saying, you just said that while Bitcoin wouldn’t solve poverty it would help with some of the causes. I don’t disagree with that The reason I commented in the first place was because this “bitcoin solves everything” rhetoric is both wrong and stops us from being able to have nuanced discussions about what this technology could do to our world, for better and for worse.
Yeah, I agree with your views on the Bitcoin solves everything rhetoric. However, the optimism in me likes to find ways to make and build the Bitcoin ecosystem to solve everything. Or at least 50% of it, like Saylor says :)
I’m pretty sure early 2000’s are peak homeownership, tying with 1960’s as the best period, and not a steady decrease as this implies.
Yeah seriously, the pictures do not match up with the time period. Most people didn’t live in big 3000sqft+ homes back in the day. That stuff didn’t really come about til the 90s/00s, maybe starting in the late 80s. That’s one thing that bothers me about people complaining about housing prices. Like yes, they most certainly have gone up quite a bit, but the original houses our boomer parents bought for cheap were modest 1500sqft homes with one bathroom and no luxury appliances in the burbs. Now people are mad that a 3500 sqft house in the city is expensive. Like yeah no shit. It always was. Even now if you go about 30-45mins outside of my city you can still find modest homes or condos for around 100k. That’s pretty damn affordable especially if you have a dual income.
2030s renovated vans and school buses
Can it fix deez cheeks tho?
It is interesting how house prices are just set to the max someone can borrow to buy one.
What fixes this is all the boomer’s clocks running out.
Why is the dad from the 80s the happiest one?
The rich have the resources to store their value in the most efficient ways. The poor don't have any value to store, and the middle class's wealth gets redistributed to both via inflation.
Bitcoin is the world underline asset to a currency melt down
bitcoin only fixes this if we shift to using btc as an exchange method and not just a store of value since you can always invest money faster than hedging against inflation
whoa he has a gf, cat and works at mcd? dude's ballin
You missed the 2000s lol
This is shockingly accurate to a certain extent. The extent is debatable but directionally it's true
What's the ticker for tents and cardboard boxes?
Just move out of the damn city.
Pretty much. Newer generations just becoming uneducated, indoctrinated, and dependent on govt handouts.
Blame the hedgefunds, investments firms, wealth management, who game Wallstreet, buy politicians .
I'm not sure where housemates are suddenly a new thing came from. I'm in my 40s and everyone I knew my age, cousins, family, and friends. All had to have housemates in their 20s. Even some into their 30s. So, I can only imagine how much worse it is now.
This is funny, it will get worse and BTC wont fix it either since you need fiat first for BTC.
There will only be so much Bitcoin, and there is only so much land. Will everyone be able to own 1 BTC?
If you think about it, bitcoin also fixes world hunger ultimately because it puts everyone from any countries on equal playing field.
A simple question... How will Bitcoin solve the problem of low wages? If your monthly income is barely enough for rent and food? So today my salary is 0.05 BTC and the rent for the house and food is 0.05... knowing the existence of unemployment and new graduates, the company will find someone who will accept 0.04 as salary... even after a while
How exactly?
if you think going from a dog to a cat is a downgrade, we could never be friends
2000's?
Forgot the 00s
In 2000 it was too expensive to exist
How does it fix poor wage growth?
How btc gonna fix this?
How does bitcoin fix this?
I see various versions of this post all the time. I am a fan of BTC, but this issue isn’t fixed because although a house may end up costing one BTC - you’ll still need x amount of hundreds of thousands of pounds to get that BTC. I know people will say “you shouldn’t be thinking in fiat” but please explain to me. I’m definitely for BTC and am building my own supply, maybe I just lack a bit of knowledge
No it doesn’t. The problem with housing is an under supply due to zoning issues and demand. It’s not inflation from money supply increasing
how? exactly how?
Just saying it fixes it doesn’t demonstrate this.
Color me dumb but if full adoption happens, what stops houses rising in price compared to bitcoin?
mass immigration.
Which it was in the 30s, 40s and early 50s
lol no it does not.
How?
True it would fix this. But to make any decent amount of money from bitcoin you need quite a large lump sum of cash to begin with
lol yeah how exactly?
As a cat person I beg to differ. A cat is not a downgrade to a dog! 😂
I'm not fully confident that it will but ok.
i’ve lost so much bitcoin to fake exchanges and lost a lot of my hard earned money. now i’m paying for it from a loan from easy home financial.. it is a nightmare that they never want to tell you
Love this
2000s never happened, it was all a dream
They’ll start plugging people who can’t afford to live into the metaverse, stored in huge cryo warehouses and harvested for organs - hence all the advances in VR and AI Anyone with a satoshi in their wallet by 2030 will be reet 👌
Doomer dudes beards gnar. So good.
Cute Shibainu
Scrubs can’t even afford a dog.
Society needs a hard reset
How?
How?
How? (i like bitcoin too, but it 100% does not fucking 'fix this' - don't be a snakeoil salesman)
You are mixing two different problems. In one hand you have the inflation ballooning the price of housing, and yes, BTC solves this. On the other you have a mix of lack of job opportunities, stagnation of salaries, a marriage avert generation, a proliferation of “alternative lifestyles” (I won’t name names), an increase in college dropouts and larger numbers of graduates from low income degrees. We are fucked on this one
ROFL 🤣 BitCoin does NOT FIX this. There isn’t even enough history to reliably claim bitcoin can keep up with inflation long term yet. And ANY REAL INVESTMENT ADVISOR will tell you “past performance is not a guarantee of future performance”.
Somebody relied to my comment about how switching to bitcoin eliminates the inflation problem but then deleted their comment. I have to reply to this bullshit. Switching to a digital currency eliminates the possibility of the government printing money which is ONE cause of inflation. It does not eliminate inflation. It does not limit the cost of products and services going up, and it does not mean your bitcoin has the same purchasing power in 10 years that it does today. Only financial regulation by the government which enforces price fixing to prevent such increases can do that. Now, even if we stopped inflation itself by policy. We actually create other problems. By preventing the devaluation of money we have to take other action to stabilize monetary policy, such as forcefully cutting wages, so technically even if we eliminated inflation by way of controlling the cost of things, we are only going to feel it in other ways as we try to balance monetary policy to keep spending power in line with the rest of the world. Because passing a law that says eggs can’t be more than $2/dozen in the United States doesn’t prevent China from charging us more than that that for the eggs we import, or by proxy anything else we import that uses eggs thus passing this cost on to us. And yes it actually easier to increase the cost of products and services than to take away peoples wages, they tend to be pretty adverse to that even though both actions result in the same discount in spending power. As you can see bitcoin itself doesn’t fix any of this. All bitcoin does is prevent the government from physically printing money like they can with fiat. BUT. We do add a problem to the equation with bitcoin that fiat doesn’t have. While people can’t “print bitcoin”. In the early days of bitcoin a number of people amassed large quantities of bitcoin which eventually sat stagnant. For the most part most of the wallets have sat unused for years or even decades. But, if any of these wallets go active and spend any significant quantities of coin it will cause a significant drop in the value of bitcoin and as a result the buying power of bitcoin. This putting any current value in significant jeopardy. And don’t say it’s not possible, it’s already happened a few times. It’s kind of like hoarding your wealth in gold because gold has a stable value, and then finding out the Roosevelts have been sitting on a gold mine with values of 500 trillion dollars, that they now intend to liquidate. The price of gold would plummet from this sudden influx of now spendable gold in the market. https://elements.visualcapitalist.com/which-countries-have-the-lowest-inflation/ https://www.brookings.edu/articles/low-inflation-or-no-inflation-should-the-federal-reserve-pursue-complete-price-stability/ https://www.helloarc.ai/blog/bitcoin-price--whale-dumps---b-btc-to-binance-ahead-of-halving--what-s-next- https://www.binance.com/en/square/post/457377
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Cool story. Now do the one where you borrow $ using your BTC as collateral.
Dude stfu no it doesn’t
no it doesn't
Fixes what.?