Right now, every part of the world suffers from the pandemic and its consequences. Society sheds skin and shakes at a high speed, and people are trying to find a place in this circulation. There are some factors that fuel the debate and lead to disunity between different classes of the community. The first thing coming to the mind is, as it is throughout modern history, is money. The pandemic hit hard so many people and they are currently unemployed due to the limitations and changing working environment. As opposed to this group, there is another group that benefits from the conditions under the pandemic and sees their business thriving.
Like the boiling frog example, the most vulnerable ones in the society, the homeless and the disenfranchised could not have realized the long-term results of the monetary pressure in the early days. However, these extraordinary times slapped these people so hard that they finally raised their voices as they never stop.
That shows us the whole economic rhetoric is built on sand. What economists do is print some money, allocate a very small amount to the people needing it as universal basic income and then watch people compete to get a slightly better slice of the pie instead of share it fairly.
There is a conflict between printing the money and allocating it where it should be. It may sound weird, but the problem is that it is being printed in the first place. If you see a scarce instrument as money and give its control to a bunch of people, then they simply manipulate the economic agenda and play with the amount in the way that they benefit.
So what is the solution? We cannot be sure, but Bitcoin seems like the strongest contestant. What Bitcoin brings to the table is scarcity which limits the degenerative side of printing more money and inflation. While every single resource in the world is scarce, we are using a non-scarce medium to price it. In the Bitcoin system, your asset cannot lose value by an external factor like supplying more tokens. All the reasons will be internal, therefore people can protect their wealth with awareness and strategies.
As a conclusion, I want to recall a quote that I have seen before: When money is short but they’re printing a lot of it, something is very wrong.
When Bitcoin comes to the stage which is long and cannot be printed, something will be very right.