๐๐ฏ ๐ฆ๐น๐ค๐ฆ๐ณ๐ฑ๐ต ๐ง๐ณ๐ฐ๐ฎ ๐ต๐ฉ๐ฆ ๐ด๐ฆ๐ท๐ฆ๐ฏ๐ต๐ฆ๐ฆ๐ฏ๐ต๐ฉ ๐ค๐ฉ๐ข๐ฑ๐ต๐ฆ๐ณ ๐ฐ๐ง โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, ๐ต๐ฉ๐ฆ ๐ธ๐ฐ๐ณ๐ญ๐ฅโ๐ด ๐ง๐ช๐ณ๐ด๐ต #Ai-๐ฆ๐ฏ๐ฉ๐ข๐ฏ๐ค๐ฆ๐ฅ #Bitcoin ๐ฃ๐ฐ๐ฐ๐ฌ.
This fear is often expressed by those who are new to Bitcoin and Austrian economics in general. According to the Keynesian model, Bitcoin would lead to economic stagnation, but as bradmillscan (npub1zjxโฆpvrl), TheGuySwann (npub1h8nโฆrpev), and johnkvallis (npub1cqmโฆhjec) explain in this chapter, this couldnโt be farther from the truth.
Below is Brad Mills answer, as written in โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ:
๐๐ฟ๐ฎ๐ฑ ๐ ๐ถ๐น๐น๐โ ๐ฎ๐ป๐๐๐ฒ๐ฟ:
Bitcoin is a savings technology. Bitcoinโs unique properties make it the best vehicle for storing your wealth over long time frames in a world being digitized and where technology makes our lives easier.
When your savings actually grow in purchasing power over time, you spend less in the present to preserve and grow your purchasing power in the future.
Iโm hopeful that Bitcoin will lead to a world with less consumerism, less waste, and smarter financial decisions, resulting in more individuals and families experiencing economic prosperity.
The significant majority of people in the world are already experiencing economic stagnation when you measure purchasing power, not dollars.
Wealth inequality is at record levels, the price of homes is rising while wages are not, and excess savings rates are low.
Weโve been trained to over-borrow and over-consume; we sacrifice a comfortable future for a more pleasurable present.
Bitcoin should help increase financial literacy and lead to more prosperity, reducing economic stagnation on the individual level.
Brad Mills is a lifelong entrepreneur with a focus on product development and marketing. Involved with Bitcoin since 2011 as a miner, entrepreneur, and investor, Brad is a Value Maximalist at his core.
Tune into the ๐๐ข๐จ๐ช๐ค ๐๐ฏ๐ต๐ฆ๐ณ๐ฏ๐ฆ๐ต ๐๐ฐ๐ฏ๐ฆ๐บ podcast to deepen your insight into Bitcoin. Brad interviews industry game changers and shares their stories so you can learn about the deep roots of Bitcoinโs philosophy.
Preorder your copy of โ๐ฎ๐ญ ๐ค๐๐ฒ๐๐๐ถ๐ผ๐ป๐โ, and ๐๐ฎ๐๐ฒ ๐๐ฝ ๐๐ผ ๐ฒ๐ฌ%, by contributing to our geyser (npub1kmwโฆxqk9) initiative:
https://geyser.fund/project/spiritofsatoshi