top | item 14988653

(no title)

codingmyway | 8 years ago

"asset holders (i.e. mostly the upper classes) essentially made bank, because debt got extremely cheap and the value of the currency declined. The average saver lost money, or at least yield, because it didn't make any sense to save money"

So if you're a saver, this is the problem that bitcoin solves. A way for savers to protect themselves from being robbed by central bankers to bail out asset speculators.

Bitcoin is also easier to take with you when you relocate. Bitcoin is a weapon is the battle of savers vs debtors.

discuss

order

charlesdm|8 years ago

But Bitcoin is an asset as well. And savers don't generally like buying assets, especially not if they're very (very, very) volatile. The average joe could've bought stocks, in 2009, yet mostly didn't. And for those that didn't, then they probably wouldn't have bought Bitcoin either.