Do you know how wealth is created?

in #bch6 years ago (edited)

It is not through the central bank. It is not by your labor, either. It is exactly when people exchange items voluntarily. In order for people to voluntarily exchange things they want, people have to have a genuine freedom. This is why freedom is so important for well-being of the people. Freedom is important not because libertarians say it is.

If money is defined as a medium of exchange, then the most important part of the property of money is about how readily exchangeable it is. Yes, it has a property of storing wealth and high marketability, but they are less important compared to the property of mobility (liquidity). This is evidenced by a deflationary period in the historical episode of the German hyper inflation just after the World War II. Please take a look at the episodes (The Episode 7 in particular) of Mike Maloney's educational videos, "Hidden Secrets Of Money" for the definition of the money velocity. Here is the link:

As a result, when people tend to save money, that particular money becomes less "expensive" and when people tend to use money more often, that money becomes more "expensive" simply because the money velocity becomes higher. In other words, how easily you can "liquidate" your wealth is the crucial point in determining the value of money.

Gold and silver have been associated with money, simply because of tradition in the Western World in particular but they have almost nothing to do with the most important part of the property of money, the mobility and the changeability. This is why paper money (USD in particular) is still valuable to most people today even if it is backed by absolutely nothing. By the way, there is no such thing as an intrinsic value of thing. The value of things is purely in the eye of beholder. Please do not follow the echo chamber of gold and silver adovocates.

So, in the age of internet, you should NOT focus on the store of value such as Bitcoin Core (BTC), litecoin (LTC), gold, and silver and other commodities. What you should focus on is the property of exchange or transaction. Bitcoin Cash is the perfect fit. The true bitcoin (BCH) has been the best candidate of our choice and our age. The best educational material for the bitcoin cash so far is Vin Armani's video in which he interviews the bitcoin cash CEO, Rick Falkvinge (

). It is so disappointing to see that almost entire libertarian and anarchist community in YouTube is very apathetic about fully and strongly supporting the true bitcoin (BCH), Bitcoin.com, and, Roger Ver. It just shows how ignorant about money people in general are.

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