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Can Bitcoin Solve Our Debt Addiction?

by cryptolovers


Margarita Groisman graduated from the Georgia Institute of Technology with a degree in industrial engineering and analytics.

Many cryptocurrency lending schemes are eerily similar to banks’ abilities to loan out money and create debt through fractional reserve banking.

(Source)

Since modern capitalism’s emergence in the early 19th century, many societies have seen a meteoric rise in wealth and access to cheap goods — with the party coming to an end years later with some sort of major restructuring triggered by a major world event, such as a pandemic or a war. We see this pattern repeat again and again: a cycle of borrowing, debt and high-growth financial systems; then what we now call in America “a market correction.” These cycles are best explained in Ray Dalio’s “How The Economic Machine Works.” This article aims to examine whether a new monetary system backed by bitcoin can address our systematic debt issues built into the monetary system.



Crypto Team

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