Economist Saifedean Ammous points to the leading cryptocurrency for the challenges facing the current financial system. Ammous, a former gold beetle, states that Bitcoin is superior to traditional money.
The leading cryptocurrency is superior to traditional coins!
Saifedean Ammous, best-selling economist and author of The Bitcoin Standard, expresses his belief that Bitcoin (BTC) can solve the challenges faced by the current financial system. According to Ammous, Bitcoin is a superior type of money compared to traditional currencies. In an interview with London Real, the economist highlights the urgency of cryptocurrency adoption. Interestingly, the author states that before turning to Bitcoin as a possible solution, he believes the solution is gold, relying on the precious metal’s ability to protect against inflation. In this context, Ammous makes the following statement:
I was a golden beetle! I thought gold was the solution and I was going around trying to tell people that the FED was doing something bad and inflation was bad… Before Bitcoin, all this was ignored… I tried to explain that to someone and convinced them to vote for someone to bring the gold standard back, and that’s totally okay. It was a dead end street.
Ammous also criticizes the current financial system. He describes this system as a corrupt technology designed to facilitate government exploitation and enable widespread inflation.
Why Bitcoin?
Saifedean Ammous says the traditional money-printing approach exacerbates the problems it’s trying to solve. He also states that it has led to a cycle of devaluation and economic turmoil. Therefore, he argues that Bitcoin should be preferred. Based on this, Ammous shares the following comment:
Until Bitcoin emerges, this is a very lonely and hopeless struggle. Then Bitcoin comes along and you don’t have to convince people anymore… The only viable alternative to Bitcoin is that your money will be destroyed by a government that can print it, and we don’t need to convince people of that anymore.
Ammous highlights the obvious advantages of Bitcoin. The economist emphasizes its decentralized nature and fixed supply. He states that Bitcoin protects against hyperinflation and government interference. Because, cryptocoin.comAs you follow, it is possible for miners to mine only 21 million Bitcoins.
future of the US dollarThe advantages of Bitcoin
Accordingly, Saifedean Ammous predicts that the sustainability of the US dollar is almost over. But it does not give a timeline of when the cryptocurrency will survive. Ammous explains his views on this issue as follows:
The dollar is gone for me. It does not matter anymore. Whatever the dollar. I was living in Lebanon when there was hyperinflation and it didn’t matter to me when the Lebanese currencies pyramid scheme exploded because of Bitcoin.
The economist also underlines that no one can arbitrarily create more Bitcoins or confiscate existing Bitcoins. It also emphasizes individuals’ security and control over their Bitcoin holdings. According to Ammous, adopting Bitcoin empowers individuals to lead more prosperous lives. It encourages people to engage in productive activities, spend less than they earn and save the rest in Bitcoin. In this way, he argues, individuals can secure their wealth against long-term erosion caused by inflation and ensure their financial independence.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. For this reason, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.