BTC surged higher overnight and then fell back to temporarily hold the 62k line. Federal Reserve Chairman Jerome Powell is having a hazy dream again, saying nonsense that by next year he will see inflation automatically drop to 2%. These words made some Zhang Er monks confused as to whether it was a dove or an eagle.
If you say you are optimistic about the return of inflation and do not need to maintain high interest rates, then you are dovish. But if you are optimistic about expectations for a return to inflation and can maintain high interest rates, then you are considered a hawk. This tone of neither dove nor hawk, dove but also hawk, seems to be possessed by Greenspan's supernatural power.
Interest is a sharp sickle. Artificially controlled high interest rates are nothing more than a legal heist that completes a wave of wealth redistribution through financial idling.
Interest is distributed according to capital, not according to work. Zhang San has 10 million knives, and his interest income for one year will be 1,000 x 5% = 500,000 knives. Li Si worked hard from dawn to dusk delivering takeaways and running special taxis, rain or shine, and only earned $50,000 a year. Under the rules of the game of distribution according to capital, generations of Zhang III were left to earn money, while generations of Li IV suffered from poverty. This formed a solidified class.
Furthermore, interest is absolutely centralized and controlled, and control rights are monopolized. The controllers take orders from Zhang San and others, not Li Si and others. This ensured the status of Zhang San's class and the country would be forever solid.
BTC has no interest. Therefore, as an asset, BTC is a good asset; as a currency, it is a good currency.
Just because BTC does not earn interest, no one can live by hoarding BTC and never selling it, only eating its interest.
Since xntm566 does not earn interest, there is no need for a centralized operator to adjust the interest rate and determine the rules for interest distribution.
BTC distributes assets according to work and distributes value according to assets. To translate, the number of BTCs owned is distributed according to the value created and contributed (similar to a kind of contribution points), and then the total value created and contributed by everyone is distributed according to the number of BTCs owned. The more you contribute, the more you will get, the less you contribute, the less you will get. The goodness of BTC lies in the fact that it does not generate interest.
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