Part 6/15:
Central to Tomer’s thesis is the idea that honest money must be hard to produce, demanding effort and energy proportional to its value. In fiat systems, central banks can create money effortlessly, often leading to inflation, devaluation, and a systematic transfer of wealth from savers to debtors or politically connected elites.
He argues that Bitcoin, by requiring energy and work to produce, democratizes monetary creation. Its issuance is transparent, predictable, and rooted in effort, making it inherently fairer.