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Comment by miles | Hacker News Reader

Is Satoshi Nakamoto's secret identity José Manuel Barroso? It's hard to imagine a way for the government to drive people to Bitcoin any harder (short of officially adopting it).

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an old lesson that has been forgotten needs to be relearned. Money is not meant to be saved. Money is for earning and spending. Saving should be done in real tangible assets.

Actually, money is specifically designed for saving.

To paraphrase Silvio Gesell, an economist in favor of symbolic currency almost a century ago, "All the physical assets of the world are at the disposal of those who wish to save, so why should they make their savings in the form of money? Money was not made to be saved!"

Except for the fact that the majority of the physical assets of the world are perishable.

I think the term "assets" in "all the worlds physical assets" doesn't mean all physical items in the world - including baskets of half ripe banana's, but things like durable, enduring, tradable wealth assets. ie: precious metals, collectables, land, art. Things that super producing wealthy people trade their massive inflow of currency for and therefore retain value.

There is only one asset you need though, and that is the same physical asset that Central banks hold that is not an IOU from another country. It is that asset only that will be able to be revalued and reflate the balance sheet when the currency 'assets' have burned to the ground.

http://www.ecb.int/press/pr/wfs/2011/html/fs110706.en.html

Money, as a theoretical concept, or currency as actually exists?

Because currency is made to be inflated. It's universally producible for less than its face value.

Saving cash is ridiculous.

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