From: To: Jeffrey Epstein <[email protected]> Subject: Fwd: [Dewayne-Net] What Bitcoin Is Teaching Us Date: Wed, 10 Apr 2013 04:47:49 +0000 Thought you might be interested... I need to et throw - the last one I'm working on is in May. Then I'll have more time to work contact you? on . Did Begin forwarded message: From: Dewayne Hendricks < Subject: [Dewayne-Net] What Bitcoin Is Teaching Us Date: April 9, 2013 9:42:29 PM PDT To: Multiple recipients of Dewayne-Net < Reply-To: [Note: This item comes from What Bitcoin Is Teaching Us Jeffrey Tucker April 9, 2013 <http://lfb.org/today/what-bitcoin-is-teaching-us/> "Thanks to Bitcoin, I am now living debt-free, just today managed to pay off all of my credit card debt!" — so reports a poster on Reddit, and the statement was echoed by many others. A currency that not only discourages debt, but earns enough money to pay off previous debt, plus encourages saving? It seems unthinkable to people today. That's because none of us in living memory has had experience with a currency that rises in value. The emergence of Bitcoin — a digital currency that has grown in purchasing power over time — has changed that experience dramatically. As a free-market currency, it does what currency should do, which is increase in value over time. Conversely, government currencies usually fall in value. That's the only kind of currency we've known throughout our lives. This reality affects our personal financial decisions in ways that we aren't always aware of. We've come to assume that there is no inherent prize to be won by merely holding money. With paper money, governments and central banks are in a position to punish holding money. Because it can be created without limit, discipline vanishes. Individuals, families, businesses, and government can ramp up spending without limit and avoid the consequences of their behavior. There's no reason for them not to be profligate. The dollar didn't always behave this