If Bitcoin is a Ponzi scheme, then fiat currencies are even worse.
The central bank plainly admits a 2.5% inflation target. That means they capture all progress in technology that allows daily life to be cheaper, and on top of that dilutes the purchasing power a further 2.5% per year.
Ever since the fiat system was implemented, the gap between the rich and poor has been increasing.
> If Bitcoin is a Ponzi scheme, then fiat currencies are even worse.
Fiat wasn't mentioned here, unless you want to argue that I purposely specified US dollars - I did so because of easy numbers.
Just because one way of handling currency sucks, it doesn't mean it justifies crypto, which sucks but way worse (because it can be abused by entire population instead of several hundred governments).
> Bitcoin is one way to side-step this debasement.
It isn't. It's not being used for payments. People hold it (or, to be fully crypto-compatible - HODL).
Its network is slow, we all know it's 7 TPS.
It requires too much processing power.
And the list goes on.
It's being used as a Ponzi scheme, the difference between crypto and fiat is that regular mortals have access to scam too, not only the governments.
You didn't say a word about how the value is being added to BTC, but I guess that's what your fiat comparison was about. I'm sorry, but you sound like regular crypto-bro who doesn't actually grasp how things work but thinks they do.
The central bank plainly admits a 2.5% inflation target. That means they capture all progress in technology that allows daily life to be cheaper, and on top of that dilutes the purchasing power a further 2.5% per year.
Ever since the fiat system was implemented, the gap between the rich and poor has been increasing.
https://wtfhappenedin1971.com/
Bitcoin is one way to side-step this debasement.