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WordPress’d from my personal iPhone, 650-283-8008, that Steve Jobs texted me on
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Comparing debt-based fiat and Bitcoin:
Fiat: Relies on perpetual debt expansion to pay prior obligations, eroding value via inflation (e.g., USD lost 99% since 1971). Ponzi-like as new money funds old without real backing, risking collapse sans growth.
Bitcoin: Decentralized, fixed 21M supply, no central promises. Value from scarcity/market demand, not new entrants paying old.
Fiat more Ponzi-like (70% probability) due to debt pyramid; Bitcoin low (10%) as asset, not scheme.
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