$32,060.76 -1.58%
BTC · 2w

Using Applied Economics to Bitcoin and why it matters.

Let me first start out by thanking this subreddit, as it truly has changed my life. The information sharing and passion found in this community is something that is awe inspiring. Just a little background - I graduated with an applied economics degree and have been working in finance for over 10 years. I first heard about Bitcoin from a friend during the 2017 run up to the previous ATH and told him he was a fool to invest in it. I advised him to go read up about tulip mania and get back to me. I also felt pretty vindicated when it eventually “crashed” in 2018. The problem I had was that I only looked at Bitcoin and cryptos in general, from a very surface level perspective. I also was worried about no central authority, network security, and no regulations. Fast forward to 2020 and I’m now literally begging my friends and family to buy some before it’s too late. What changed? My fears about the global economy has been growing rapidly the last few years. We are at a time when an estimated 17 trillion dollars worth of debt is producing a negative yield (I don’t want to get too technical here, but trust me this is insane). Meanwhile we have 28 trillion dollars in US debt alone - with that number growing rapidly ever year. We are getting to a point in which every dollar the government receives in a year will go to paying interest on that debt. The federal reserve can’t raise interest rates, basically ever at this point, because they will bankrupt the government with higher interest rates on those debt payments. So the only way for the fed to pay our debt is to print more money to meet those obligations. We are truly at a moment of no return (please don’t listen to the MMT crowd, as they are a bunch of ass hats). The dollar being used as the global reserve currency is where this massive problem comes into play. What does this have to do with Bitcoin? Since inflation is inevitable, where do you put your money to preserve it’s value? Of course there is gold, and that...
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Recent news
BTC -1.58% · · 1h

U.S. congress is now hosting the Bitcoin Whitepaper

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BTC -1.58% · · 5h

CSW faked his PhD from CSU University

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BTC -1.58% · · 16h

The Case for a $10,000,000 Bitcoin

I have seen several articles making the case for a $1,000,000 Bitcoin (such as this one).[3] I thought it appropriate, therefore, to look even further into the future and thus decided to write about…