The macroeconomist and crypto enthusiast believes that due to the inflationary nature of the economy and the tight supervision of the financial system, bitcoin has all the advantages over gold and fiat.
Lyn Alden said in an interview that in today’s environment, Bitcoin is the ideal solution for the current monetary system:
“The main problem is that we have an inflationary economic system. This is quite problematic for developed countries. In small and developing countries, the average inflation rate is much higher, and citizens usually experience hyperinflation during their lifetime. In this case, they lose their savings if they keep them in the national currency.”
According to Alden, the second problem is the overregulation of the financial system:
“Any legal transactions require permission from your bank. It is easy to get in some countries. In other countries, more authoritarian, it is difficult to do this, and this is a serious problem for the financial system.”
According to Alden, money is just a ledger, and Satoshi Nakamoto designed the world’s best ledger due to BTC’s scalability, validity, and transparent scarcity:
“The best way to describe money is in words: it is the best-selling commodity. Another way to describe them is in terms of ledgers. Historically, they correspond to commodity money, but at the present time this is not necessarily the case. Therefore, the best ledger is absolutely transparent, and data cannot be changed in it. The combination of a better ledger with a rigid unit of account is the financial revolution.”
Alden added that bitcoin is more dynamic than gold, easier to audit, and more difficult than fiat currencies. According to her, BTC acts as “its own decentralized transfer agent and registrar.” This is a wonderful technology, stressed the macroeconomist.
However, Justin Bons, Investment Director of Cyber Capital, considers BTC one of the worst cryptocurrencies in technical terms and calls it a speculative asset that does not bring any benefit.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
