Show Notes
“If currency is locked in at a specific number, you get monetary inflation.” - Peter Zeihan THIS IS 100% WRONG. Monetary inflation is an *INCREASE in the SUPPLY OF MONEY*, which leads to *price inflation*… Bitcoin’s fixed supply does the opposite—it PREVENTS monetary inflation entirely. Bitcoin’s supply cap of 21 million units ensures that new Bitcoin cannot be arbitrarily created (in contrast to dollars printed out of thin air by the Fed) which is the antithesis of monetary inflation. I felt the need to explain this because jabronies like Zeihan use appeals to authority and calm, sanctimonious voices to trick people into thinking they actually know what they’re talking about. The definition of Monetary Inflation as an "increase in the money supply of a country" isn't just me making it up or those crazy Austrian Economist conspiracy theorists, IT'S LITERALLY ON WOKEPEDIA. Peter Zeihan is just making shit up to try and discredit Bitcoin, but all he did was make himself look like a moron. In a system with a fixed monetary supply (#Bitcoin), you have DEFLATION, where the VALUE OF MONEY INCREASES as productivity and efficiency improve, so prices of goods and services DECREASE relative to the fixed supply of money, e.g. house prices. Seriously, folks, do not let Peter Zeihan confuse you; this is not complicated. Monetary inflation = INFLATING the money supply = money printing #Bitcoin has a fixed supply of 21M and no one can print more. “Money printing” is impossible. If you’d like to better understand the difference between inflation and deflation, and how #Bitcoin is repricing the entire world, check out this episode of THE Bitcoin Podcast with Jeff Booth: https://www.youtube.com/watch?v=-o02OLYsnw0 #inflation #bitcoin #money #bitcoin101 #monetaryinflation
