Creating Debt is just fiat mining.
I am reading (listening really) to the fiat standard and my mind is consistently blown at the truth of what our “money”actually is. It’s nothing but a propped up, debased, backed by faith and military proposition forced upon us by government entities. Banks can literally print money by making debt out of thin air. Nothing backing this debt and nothing to make it real. Bitcoin was designed to give the people back its power of its monetary future through an asset that is backed by prof of mathematical work that means every Bitcoin was created through some kind of effort and not endlessly printed. Everyone needs to read the fiat standard.
Interview: Amir Taaki on the Early Days of Bitcoin
Home of the Bitcoin Takeover Podcast, the BTCTKVR open source magazine, and loads of other forms of BTC-related content. Articles available in English, French, Spanish, and German.
Does Bitcoin suffer from the "Cobra Effect?"
How a Fear of "Perverse Incentives" Underlies Many Bitcoin Environmental Critiques