Jeff Booth, the author of The Price of Tomorrow: Why Deflation is the Key to an Abundant Future, believes that Bitcoin (BTC) is the only force that follows the natural state of the free market.
In a new interview with Natalie Brunell, Booth says we should live in a deflationary world – where technology strengthens a currency’s purchasing power by driving down the value of goods and services.
According to Booth, Bitcoin is a game changer as it is the only currency in existence that can bring forth a system underpinned by abundance.
“I see Bitcoin very differently than most people do… The natural state of the free market is deflation and technology would make that deflation happen at a way faster rate – at an exponential rate – and that deflation shouldn’t be feared because what it actually is is the productivity flowing to us so that we can live abundant lives and do what we want…
Anything that stops that is not an economic system, it’s not a political system, it’s a control system that gains its strength from stealing from you… Once you understand that that is true, then as a derivative, everything else from the existing system is stealing from you.”
Booth predicts all fiat currencies will fall against BTC forever as it is the only currency designed to eradicate inflation.
“So Bitcoin stands as the only thing that I’ve found that can protect you from that. It’s not a coin. It’s a protocol bounded by energy. It’s an open, decentralized and secure protocol bounded by energy. It doesn’t care if you want to price it through currency or pieces of paper that are being manipulated. It doesn’t care, it just keeps on moving forward.
So relative to Bitcoin, all prices are falling and will forever because it’s the only free market force that is in existence and everything tethered to the other system is not. It’s a control system.”
At time of writing, Bitcoin is trading for $60,310, up 3.69% on the day.
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