I'll watch the video soon, I'll need to create enough free time for it. 😁 But the topic is one I've been thinking about too. I was thinking:
I am just giving a summary here, because it'll probably take a whole lot more words to convey. If Bitcoin for example is finite as it is, then when the productivity of it's users increases then its value increases too. So when more and more people start creating things, food, cars, etc, the price of these things should adjust downwards too. It could cost 1BTC to get a car, but when the nation becomes more productive and better chains of production are invented, creating more cars, then the price should go down to reflect this. If our money system was like Bitcoin then prices would adjust more fairly to reflect the real changes in economy.
I hope I'm making sense. I'm just saying that looking at Bitcoin in the last few years, the price of a loaf of bread has gone down in BTC terms, compared to USD. Imagine what the financial world would be like if we had just Bitcoin.
To sum it up, I totally agree with you. Fiat money is flawed. Thanks for sharing this.
😁 I'm a dedicated Steemian... I write poetry... And I could use a little support 😁
That makes perfect sense. If our fiat wasn't being inflated to unpayable proportions the cost of goods would be going down now.