Bitcoin's Killer App

So the blockchain is interesting, but not yet clear whether it is useful for anything. And investing in bitcoin still looks a lot less reasonable than investing in cold fusion.

Paul Krugman


The root problem with conventional currency is all the trust required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currency is full of breaches of that trust.

Satoshi Nakamoto


The first quote above comes from a Nobel laureate in economics while the second quote comes from the creator of bitcoin and the only one of the two who deserves a Nobel in economics.

Krugman thinks the blockchain does not yet serve any useful purpose. Satoshi understands that bitcoin's killer app is that it allows you to free yourself from the morally corrupt central bankers who can only be trusted to completely debase fiat currency. It really is that simple.

Sure, gold the metal cannot be debased, but it is still controlled by central banks and leaves you exposed to their machinations. The only thing that one can be sure of in the world of economics is that fiat currencies will fail. It is too easy to create them and central bankers just cannot help themselves. This constant printing of money from thin air creates incredible economic distortions, bubbles and inequality.  Central bankers are therefore, deliberately burning down our economic house. The goal now of the governments of the world is to lock people inside this burning building of fiat. Bitcoin is your way out. Heed Satoshi, not Krugman.

Disclaimer: Nothing here should be construed as investment advice. These are nothing but my rambling thoughts. I do own gold and bitcoin, but do not recommend these assets for others. You have to do your own homework and know what you are getting into. Governments hate these two assets and will try to make sure no one who owns these things wins. You have been warned to stay away!