xeio87 t1_iut228h wrote
Reply to comment by godofleet in FYI: PPL is Increasing their Electricity Rates by 18% to 14.612 cents/kWh on December 1st. This is up 53.78% YOY. by giggles-mcgee
>but if you look at the value of practically any currency vs gold
Why would you look at the price of gold over the price of something like stocks though? Small amonuts of inflation promotes actually investing money rather than sitting on it, and that promotes growth of the economy.
godofleet t1_iut7jr3 wrote
why wouldn't you? gold has been considered the top form of money for millennia, stocks are a much newer thing (especially with regard to the masses) - and stocks aren't money... it's not a bearer asset, it requires trust in others and you can't trade your apple stocks directly for a house.
>Small amonuts of inflation promotes actually investing money rather than sitting on it, and that promotes growth of the economy.
i don't disagree with this, it makes sense... but is it worth the clearly inevitable human corruption and entropy?
if you had to build a house and someone gestured "1 yard is THIS long" ... would you roll with their hand signals or would you use a measuring tape?
but much more importantly, bitcoin has an inflation rate, it's by design, we don't need central bankers (influenced by big corps or governments or themselves) to orchestrate monetary policy, we can do it with code. bitcoin's inflation rate is around 1.6% https://buybitcoinworldwide.com/stats/inflation/ and steadily falling (in a long while to zero)
it emulates the mining of a precious and truly finite resource... unlike gold which has an ever inflating and variable rate supply https://www.spglobal.com/marketintelligence/en/news-insights/research/gold-rrs-2022-surge-in-recent-discoveries
most importantly, this idea that we need to spend to grow the economy- that's paramount - it's entirely unsustainable... it's the core driver of climate change... it drives producers to make the cheapest shit possible that needs to be replaced every year so they can make more profits... they want you to hate your money... invest it in Facebook, Apple, Tesla so they can buy yachts and fucking blow it on garbage products...
really, as a species we need to focus on the long term, 2% a year = -50% net worth in 35 years... we can't save for the future (we're literally guided/educated not too...) we can't support our kids or grand kids (let alone ourselves in many places) ... inflationary money is unsustainable and destructive...
here's a much more eloquent variation of my rantings lol-
https://calebfenton.substack.com/p/bitcoin-fixes-everything-because?s=w
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