Poor design has always existed, but fiat amplifies it by fueling mass production through artificially cheap credit, rigid regulation, and political capture.
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I’ve uploaded my talk, How Bitcoin Changes the Way Humanity Saves and Lives, from this year’s BTC Prague, including the video, slides, and transcript, to my website, where you can also find my other work.
One of the most underrated positive second-order effects of bitcoin is that rents don’t have to keep rising to offset inflation, they can actually stabilize, or even decline over time.
Bitcoin will make housing more affordable.
As bitcoin's utility as collateral becomes more recognized over time, people will realize that it is a better store of value than real estate.
There’s no longer a need to store wealth in property, as BTC can take that role, allowing the monetary premium currently embedded in real estate to flow into Bitcoin and letting property prices return to reflect actual utility.
Even though this is a long process, it’s one of Bitcoin’s most important second-order effects: more affordable housing.