Bitcoin is the first true free market in human history, offering a new way to discover prices without central control.
In his masterclass, Jeff Booth explains how free markets naturally lead to lower prices due to technological progress, while fiat money systems, which rely on inflation, can erode individual wealth over time.
People view Bitcoin differently:
- Bitcoin Enthusiasts: They see it as a groundbreaking tool for transparent price discovery, free from central manipulation.
- Bitcoin Investors: They consider it an asset that often outperforms traditional investments like real estate or stocks.
- Fiat Users:
They view it as mysterious internet money or even liken it to a Ponzi scheme.
This skepticism may stem from the fact that, despite living in a time of technological abundance and productivity-driven deflation, fiat inflation mechanisms can erode individual wealth, often without people realizing it.
Booth encourage us to rethink Bitcoin as the first true price discovery mechanism and the foundation of the first free market.
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