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Comments (18)
The good news: it can’t lose more than 100%.
Fiat is just another shitcoin
I’ve been stacking sats since 2017 and have a significant proportion of my wealth in it. But this is a low effort post and doesn’t help the cause. I’d hardly call pound sterling a failed currency.
Money isn’t designed to be a store of value and just looking at the value of it over such a long time frame misses the point. If you stuffed bills under your mattress for 300 years then yes, you lose. You invest it wisely you would have a fortune. It’s not a saving vehicle. Bitcoin is different and can be both.
A british pound sterling was equal to a pound (16 ounces) of silver when it was established. That’s worth ~£260 or ~$320 today.
Why is the image the Venezuelan Bolivar?
I pity the poor people who’ve hodled the pound for that long. They must look like prunes by now
Borrowing money is very easy compared to mining bitcoin. They don’t want to change the status quo. SVB was just the beginning.
Both the pound sterling and the US dollar WERE the silver, not paper notes promising to pay in silver.
The silver never lost its value, the silver WAS the value. The poster (along with everyone else) confuses the paper for the actual substance. Today’s USD doesn’t even have a definition. Does the pound sterling?
I think the florin is the currency that did the best job maintaining value in history. I think it had about 280 years without really losing any value.
All FIAT wont ever fail, do you really think the goverment, the banks and the politicans would let this happen? Seriously how delusional are you? You think the goverement and banks are just gonna lay down and say “yep we failed i guess everybody is just gonna start getting paid in pure gold/silver coins or bitcoin” Like dude i hold bitcoin and i believe in its future but FIAT will never dissapear get that through your head.
Its so tiring seeing this bitcoin post about how everything is gonna crash and fail and bitcoin will be the only lifeline left in the world, it wont happen, ever.
Sure and yet the USA has the greatest economy on the planet currently and the British had a pretty robust economy at one point.
And then we’re the stupids because we save in bitcoin, they say.
USD and all other currencies have already lost over 99% of their value against bitcoin over the last decade.
Not just once or twice, guess how many times?
At least we can see the history, with bitcoin we only have a few years to go on
OTOH if you invested say 100 pound sterling at a very conservative 5% annual return for 330 years you‘d end up with 982808023 pounds, just shy of one billion. All thanks to compound interest and being Lestat de Lioncourt.
Good info. Just don’t follow the link to that scam website.
That is a Venezuelan bolivar in the picture
1 pound used to be worth 1 lbs of sterling silver. That’s why it’s called a Pound.