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Bitcoin is a hedgel...against *the state*

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Maybe bitcoin is an inflation hedge, maybe it's a monetary inflation hedge but not necessarily a price inflation hedge. But regardless, it's absolutely a hedge against an authoritarian state. Bitcoin will gain strength in direct proportion to the state. The less responsible state monetary and fiscal policy, the stronger bitcoin becomes. Bitcoin is the diametric opposition to the reckless spending, irresponsible behavior, and chronic overreach of the state. It would not be necessary otherwise. If, tomorrow, there was a legitimate and genuine bipartisan move towards a responsible fiscal and monetary policy and a strong currency, bitcoin would almost certainly drop in price. But as we all know, the dollar is backed by nothing more than the full faith and credit of the United States government, which is ironic more and more scarce all the time. And as that level of faith and credit falls, bitcoin rises. So, maybe it is an inflationary hedge, but if it is that's only a secondary effect, because it's a hedge against a state that tends towards inflationism, a state that can't help but impose its will by violence because no one would consent to it otherwise, a state that uses manufactured inflation to drink your milkshake. That's the real hedge. And if the state stopped doing that tomorrow, we might not feel like stacking sats was so urgent. But they'd always be there waiting for us, because in my opinion states always trend towards authoritarian. And so, bitcoin or something like it is a natural and emergent property of all economies. This isn't meant to be rhetoric or anything, just some stuff I've been thinking about. The irony that the harder the state pushes, the more irresponsible they are, the more corrupt, the more they overstep and impose, the stronger something like bitcoin necessarily becomes. Feel free to give your thoughts and opinions.

submitted by /u/deepfield67
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