Can Bitcoin Solve Our Debt Addiction?

Bitcoin Magazine

Margarita Groisman graduated from the Georgia Institute of Technology with a degree in industrial engineering and analytics.

(Source)

Since modern capitalism’s emergence in the early 19th century, many societies have seen a meteoric rise in wealth and access to cheap goods — with the party coming to an end years later with some sort of major restructuring triggered by a major world event, such as a pandemic or a war. We see this pattern repeat again and again: a cycle of borrowing, debt and high-growth financial systems; then what we now call in America “a market correction.” These cycles are best explained in Ray Dalio’s “How The Economic Machine Works.” This article aims to examine whether a new monetary system backed by bitcoin can address our systematic debt issues built into the monetary system.

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