Fiat Currency is Dishonest Scales

What is a false balance? It is an inaccurate measure designed to fool someone who does not know better. If a shopkeeper who sells flour has a weight with a big "2" on it that only weighs 1.8lbs, on a balance like the one depicted in the image above, buyers will be defrauded out of 10% of what they are getting. Honest measures are necessary to insure the integrity of commercial activity. If you look at the gas pump the next time you fill up, you will notice that it has been checked for accuracy and date stamped.

Inflation is Theft

Since 1913, the U.S. Federal Reserve note, the world's reserve currency for the time being, has been systematically devalued by 95% according to the official numbers. (http://www.usinflationcalculator.com/). This means, that a dollar literally buys what four or five pennies bought in 1913. That value did not just magically disappear, it was given to someone else. The act of creating new money devalues the current money pool.

Bad Money is Less Desirable than Good Money

For those of you who are not familiar with Gresham's Law, I have posted the image below.

It tells us that when money with more intrinsic value and less intrinsic value are both available, people tend to horde the money with the higher intrinsic value, and circulate the money with the lower intrinsic value. Think about "Constitutional Silver": coins made before 1965 that contain 40-90% silver. These coins often trade at more than 10 times their face value (https://sdbullion.com/silver/90-silver-coins-silver-dollars/90-constitutional-junk-silver)

Conclusion:Gresham's Law Applied to Reserve Notes vs. Bitcoin

In less than a decade Bitcoin has gone from being valued at under a penny to being valued currently at well over $2000. While it is not true for every cryptocurrency, Bitcoin has a limited amount, less than 30 million will ever be mined. Crypto replaces the financial services industry professionals with automation. If these professionals are honest, this saves you 5%, if they are Ken Lay, Bernie Ebbers, and Bernie Madoff, it could save you a lot more. Fiat banking is inherently dishonest. If you disagree, consider the following example: If Jesus had invested 1 penny at 5% interest and emptied his account at German reunification in 1990, the value of his account would purchase more than the entire weight of planet earth in pure gold at its current price. Interest is the only benefit promised to savers in a fiat banking system, and it is clearly a come-on. Bank failure is baked into the cake, the only mystery is what excuse the bankers will come up with for their planned failure. Cryptos will not always offer speculators the huge gains of today, but they will allow savers a way to store their wealth more safely. For that reason, cryptos are clearly the superior money.