The Structure of Fiat
Fiat money must increase in supply forever. This is because every dollar is nothing but a debt owed with interest, the interest of which has to come from new dollars, which themselves are owed as debts with interest. When the debts are repaid, the dollars cease existing as the debts are cancelled out. In other words, this is a ponzi-scheme like design of necessary, infinite growth. Without that growth, the system collapses.
Debts are largely taken out by productive, economic ventures (as opposed to government printing into the void) which means the economy is required to keep growing to keep the money supply from collapsing.
Unlimited Growth - A Cancer
Eric Weinstien calls this an "embedded growth obligation" (ego) which I think is a great term. Nate Hagens has done great work showing that economic growth is coupled almost 1:1 with planetary resource extraction and material consumption.
Problem: infinite growth on a finite substrate is called cancer. There are only so many resources we can extract before we start hitting "planetary limits" and exceed the "carrying capacity" of the earth.
Nate's channel has shown that in 100 years, our current economic "growth" rate will have brought us past the point the planet can sustain. We will have hit a planetary wall and there won't be enough free resources to extract and subsidize our growth. We will have reached this point mainly because fiat money requires infinite growth, though there are other forces driving growth as well (multi-polar rivalrous competition, dissatisfaction in all of our hearts with a steady-state existence, etc).
Bitcoin - A Solution
But Bitcoin supply won't increase after 21M. This means there's no embedded growth obligation in the money, giving society a monetary paradigm that can abide with steady-state planetary flows and not be obligated to deplete resources exponentially, forever.
Bitcoin still allows economic growth - it would just look like an increase in the productive value of the currency, balanced against other inflationary pressures.
I'd recommend everyone study Daniel Schmachtenberger and Nate Hagens work on Youtube.
I'd welcome any criticisms of my points.
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