House prices ticked up in July, so its time to say again:
House price rises are...
NOT a 'return to growth';
NOT a 'bounce back';
NOT the return of a welcome return of 'health' to the housing market...
HOUSE PRICE RISES ARE ASSET PRiCE INFLATION & ARE CONTRIBUTING TO OUR ONGOING HOUSING CRISIS!
Until we get this message we will never approach removing our housing problems (yes, I know there are other issues for rental rights to loose finance that contribute too)
> Until we get this message we will never approach removing our housing problems
This is already understood by everyone relevant to do something about it, but they would lose their money printing privelege.
There are plenty or organisations who understand this too and they buy houses to escape devaluation of fiat by printing.
the boomers sitting on houses mostly dont understand anything but are happy prices go up.
bitcoin fixes this
i mean, boomers in the sense that thats the generation who inherits the wealth of the world until genX inherits it and then millenials...
of course, there are many boomers who dont have much and some who understand a lot.
its still 99% vs 1% and not boomers vs other generations 🙂
Switching out the currency doesn’t actually address the problem. I honestly have to assume this is a joke.
global debt is growing faster and faster and always has been. the majority of it private debt. its banks giving out loans to pay old loans and always give it to the capitalist class. the billionaires to get richer faster and faster.
2008 all banks went bankrupt, but corrupt governments still prolonge the agony and nothigm changed.
musl and co are as rich as NEVER before.
it banks everyone who is currently unbanked... and so on...
bitcoin is an alternative asset to escape the devaluation of money by the printing presses (public and even larger private) ..and allow people to buy bitcoin instead of houses, which will will take away migrate all wealth from houses to btc, making house prices collapse and solving the rental crisis
Hmmm.... an unsecured currency with widely volatile transfer values (into 'real' currency) does not strike me as the way forward. Certainly, part of the housing iris is a credit availability issue, but not sure how shifting savings/investments of potential or existing hose buyers into a currency system where value is entirely dependent on sentiment would solve anything
the sentiment goes up reliably for 16 years.
the reason is likely that nobody can print it and thus it decouples credit from money so ppl have a way to opt out of financial casinos ...and no other mechanism offers it.
by now bitcoin has the network effect to the benefit of everyone that no other similar coin can compete with.
BTC might be volatile, but no matter when you bought. after max 3-4 years you would be in plus 🙂
why would somebody want to use fiat instead?
'why would somebody want to use fiat instead?' - because at the moment it broadly holds its value & its universally exchangeable - right now Bitcoin (and other crypto currencies) are an addition to the currency environment, not a replacement for it
houses and many other goods do not inflate in value measured against bitcoin for example
whether "art"... or money or gold ..ppl choose what keeps the value and there arent many practical options of something that cant be printed/inflated by some parties at will... so that property gives it intrinsic value. as long as we use money to escape the "double coincidence of wants".
and bitcion transfers globally + self custody
so its not that bitcoin is bqcked by anything but believe, but so is everything else and bitcoins self custodial property and assurance no party can print/inflate at will and easy global transfer makes it special - and after all ppl have to choose something...
...and better bitcoin than hoarding houses and causing problems with rent 🤷♀️
Indeed, I used to have a week on my economics for non-economists course which centred on the notion of 'money as confidence'... but you are making my point for me; if as you accept, Bitcoin is actually no different to Fiat money then it cannot really be the answer to an asset inflation funded by credit
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