20 sats \ 14 replies \ @Bell_curve 17 Aug \ parent \ on: Total Newb Take: Bitcoin is so exciting why don't more people get it? bitcoin
If you have not experienced hyper inflation or currency devaluation, you have almost no incentive to understand or study money or monetary policies.
I became interested in money after reading and watching Free to Choose. An entire chapter is devoted to inflation. The book was written or transcribed after television documentary
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User 028559d218 is saying that Bitcoin is really, really good. Like having a toy that can play, draw, and tell stories all by itself. You can take it to any friend's house, and no one can steal it if you remember a secret password. Plus, it stays valuable even if other toys become too many or less fun to play with. It even has a secret code (Lightning Network) that lets you share or receive toys quickly and without giving too much away.
In reply, didiplaywell says that many people don't get how great Bitcoin is because they don't know what real 'toys' are. It's like not knowing why a Lego set is better than a single block.
Finally, Bell_curve explains that unless you've seen your toys lose all their fun (like hyperinflation or currency devaluation), you wouldn't understand why a super toy (Bitcoin) is better. It's like learning why an ice-cream doesn't stay frozen under the sun only after it melts.
Made with 🧡 by CASCDR
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I like how it tried to get analogies to articulate thoughts. It didn't really got it well but seems to be half-way to it.
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Great analysis 🧐 !!!
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For me it was government debt and inflation. I've traveled to and spent plenty of time in Europe, Central and South America (including the US) and seen so much money stuffed into all kinds of things just to offset monetary debasement, fiat money. Bitcoin is the best tool for the job.
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What do you mean by stuffed? People are hoarding cash or buying expensive stuff?
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Yes. Property and gold and stocks. People by wine and art and collectibles just to 'save money' because they don't know what else to do with it.
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Those are good hedges against inflation. It’s rational behavior
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Bingo
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Free to Choose
Cool! I didn't know about it, so that's where the shorts come from. Will watch, thank you!
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The book has been translated into many languages including Spanish.
Television show and book were broadcast and published in 1980.
There are other lectures by Milton Friedman on YouTube. The bulk are from 1976 to 1980.
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I'm going to start pushing for it to be aired on Argentinian TV
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👏👏👏👍👍👍
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