RE: Fast Changing World: Has Long Term Planning Become Obsolete?

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avatar of @celestal
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a year ago - 1 minutes read

I believe we have become more short term oriented as a result of governmental monetary policies: slowly abondoning the gold standard and initiating their fiat monetary shenanigans to avoid defaulting, governments and central banks have had the ability to expand monetary supply for their own benefit. This results as a devaluing money and savings for the common folk which results in short term thinking and rapid spending, because why hold money that loses value.

Fiat solved the problem for salability and payments across space at the expenses of salability across time. Gold was salable only across time - one reason why it was abandoned as a standard. Bitcoin fixes this because it is both, salable across time AND space.

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