Every day that passes the US dollar demonstrates to the world the inability of the fiat model as the main method to generate wealth among people, at least among the majority of human beings that inhabit this planet. According to Bloomberg, the dollar experienced a 12% drop last year, while it is already down 20% so far in 2021, and the general trend is that the green currency will fall at least 70% in the coming months.
And it is not only the world's main fiat currency that has experienced this significant fall, its counterparts in most countries are also showing negative numbers with respect to other values. Every time gold and commodities revalue against these currencies, while Bitcoin and most cryptocurrencies every passing day show important historical records against the dollar.
And what is the solution of the Federal Reserve (FED) to reverse the situation, well, the usual: lower interest rates and increase the issuance of money as if it were grains of rice. The problem with this methodology lies in the fact that the more money that goes out on the street, the more the prices of everything increase. On the other hand, most of that money goes to the same people as always: banks, institutions, big companies and Wall Street.
Consequently, fiat money became an instrument to multiply the wealth of the few as most of us give ourselves to the merciless increase of our debts to survive, without taking into account that sector of the population that needs to generate some cash income day by day because for the banks and the owners of the money they do not exist.
The United States for a long time was dedicated to buying things for free from abroad by appealing to the "machine" of printing money, while companies left that country to settle in Asia and Mexico. The party was good while it lasted but today other DJ's are playing better tunes elsewhere. Less and less people trust the system based precisely on trust while gold may be efficient as a valuable asset it is not so efficient as a means of payment, only one element fulfills both functions efficiently: BTC and cryptocurrencies (decentralized virtual currencies).
The 21st century is the century of blockchain-based digital currencies either centralized (such as the Chinese yuan) or decentralized with BTC leading the way. The new generations see cryptocurrencies as that disruptive economic instrument in which to place their trust, precisely because no government, institution or individual can be able to manipulate the issuance of this currency, therefore this type of money generates in its users and holders the feeling of freedom and especially of having a value that is revalued over time.
I have the feeling that the longer we delay the adoption of cryptocurrencies to replace fiat currencies, the deeper we go into poverty, since this type of money does nothing but lose value while BTC and other cryptocurrencies continue to demonstrate that they are optimal options for the stability of our personal economy.
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Can't believe there's no comments on this with such a high payout! Fully agree with a statement up there - "The 21st century is the century of blockchain-based digital currencies"... - as I've been preaching for years that 'The Future is Digital'.
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Thank you for your support, I am glad to know that people like my work. Indeed I think we are in a disruptive moment and cryptocurrencies with BTC leading the way are marking an epochal change.
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