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"Bitcoin is a vaccine against inflation"


Tyler Winklevoss described Bitcoin as a vaccine against money printing disease. Co-founder and CEO of cryptocurrency exchange Gemini wrote On twitter, with a clear reference to the ongoing Covid-19 epidemic:

This disease is nothing more than the totally arbitrary and potentially unlimited creation of no fiat money that, if released in the consumer markets, could raise prices, losing purchasing power.

The fact is that latest measurements taken mainly by the Fed U.S they will not be limited to the release of a large amount of dollars created from nothing, but some of them will also be injected directly into the consumer markets, through direct payments to American citizens.

Tyler Winklevoss sees this as an illness, one of whose symptoms is inflation. The issuance of new BTCs, on the other hand, is not the result of arbitrary monetary policies, it cannot be without limits, nor can it really be changed.

Right now, only 12.5 BTC is created every 10 minutes or so, and starting in mid-May this creation will halve to 6.25 BTC, still every 10 minutes, over the next 4 years. After that, there will be other halving’s, scheduled every 4 years or so, that will eventually lead to the complete stoppage of creating new BTCs.

That is why Winklevoss compares Bitcoin to a "vaccine" against the disease of arbitrary creation of fiat money. One of the comments to the Winklevoss tweet is from the VanEck executive Gabor Gurbacs, who says:

“Bitcoin is not the virus; it's the vaccine. "

Clearly, this is why Bitcoin was conceived, designed, and built, although there is still no concrete and definitive confirmation that this really is the way things are. However, it is possible that by the end of 2020 there may be a significant increase in US dollar inflation and it remains to be seen if Bitcoin will really be a vaccine against this disease.

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