Jordan Peterson, the best-selling author, adds more Bitcoin into his wallet. The Canadian Clinical Psychologist had an interview with Dr. Saifedean Ammous. Consequently, Peterson learned that Bitcoin investing does not face Inflation.
Youtube: The Joe Budden Podcast Interview:
Dr. Peterson, a host of the JBP Podcast, recently hosted Dr. Saifedean Ammous to discuss Finances, Bitcoin, fiat, and Economy, amongst other topics. Dr. Saifedean Ammous is famous for his books; ‘The Bitcoin Standard‘ and ‘The Fiat Standard.’
Jordan Peterson Addresses His Concerns About Bitcoin.
Dr. Jordan did not shy from addressing all the questions that made him disconnected from Bitcoin.
First, Peterson asked Dr. Saifeedean about the trustworthiness of the founder of Bitcoin. Peterson argued that it is inconceivable to have Satoshi Nakamoto build an entire software and stay anonymous. According to him, this idea raised a lot of red light towards investing in Bitcoin.
In turn, Dr. Saifeedean assured that Bitcoin has and will be safe. On the contrary, the anonymity status of the founder only improves the decentralization prospects. Additionally, Bitcoin is a decentralized cryptocurrency system. Ultimately, even though we may not know the owners, we are confident that founders can not tamper with the system. A decentralized system gets improved by different coders each day.
In the interview, Dr. Ammous argues that “There are no insiders on Bitcoin,” He explained what makes decentralized funds successful. He added, “Bitcoin only has users…no admins” Furthermore, no one owns a master key to Bitcoin.
The guest interviewee, Dr. Saifedean, hails Bitcoin for its nature of not discriminating against beginner investors. Bitcoin treats everyone equally, unlike the sanctions placed under Fiat currency.
For instance, using Fiat currencies, you will be limited to transact in specific scenarios. In comparison, with Bitcoin, you have no limitations set for you.
Why Is BTC Important in Fighting Inflation?
Dr. Ammous compared the Bitcoin value to Fiat Currency. He resonates that Fiat funds are highly susceptible to Inflation. In that, the government can turn to predators. He also suggested that central management is not the solution to controlling funds.
Instead, BTC is an essential tool that can hardly be affected by Inflation.
Analysis of The Bitcoin vs. Fiat Currency
Bitcoin is a decentralized digital currency system. Fiat currency, on the other hand, is a type of currency that the government owns. Thus, Bitcoin is the solution to the mass reproduction of Fiat currency, causing Inflation in the currency.
Earlier this month, an analysis by Bloomberg showed that Bitcoin had a 99.9% shield from Inflation. One of The Fiat money, on the other hand, recorded a 28% value reduction. As the scenario above suggests, Fiat currency, unlike Bitcoin, is prone to Inflation.
Finally: Dr. Jordan Peterson Is Convinced
Eventually, Dr. Peterson had received a lot of insight from his interview. Quoting him, “My pleasure. Learned a lot,” he said on his Twitter handle.
Coupled with Dr. Saifedean’s conviction, the JBP host has, in turn, bought more Bitcoin investments and feels secure from Inflation. As he puts it, “Inflation be damned.”