Bitcoin: A Solution to Inefficient Fiat Systems12. March 2023
• Tim Niemeyer is a teacher and the co-host of Lincolnland Bitcoin Meetup
• He believes that living in a fiat monetary system incentivizes less-than-optimal decision making and substandard relational habits
• Bitcoin could provide a solution to this problem by providing sound money not controlled by those in power
Understanding Bitcoin & Education
Tim Niemeyer is both an elementary school teacher and the co-host of Lincolnland Bitcoin Meetup. His passion for music and bitcoin has helped him develop a deeper appreciation for both, which also gives him a unique perspective as an educator. In this opinion editorial, he discusses how the current coercive fiat monetary system incentivizes less-than-optimal decision making and substandard relational habits, and what role bitcoin can play in providing solutions.
Fiat System’s Impact on Decision Making
Niemeyer argues that when people are able to control the money supply, it leads them to impose their morals onto said money supply. This has resulted in helicopter parents who fight their child’s battles, do their schoolwork, coach their coaches, keep their kids on a short leash, act as maids in their own house, play it too safe and can’t let their kids fail. He believes most parents are good people doing the best with what they have but don’t understand the benefits of sound money that’s not controlled by those in power.
Potential Solutions with Bitcoin
Niemeyer suggests that bitcoin could provide an answer to this problem by providing sound money not controlled by those in power and changing how humans interact with each other from one based solely on economic incentives to one also centered around relationships rooted in trust. This would allow individuals to plan for long term goals beyond just satisfying immediate needs or desires set forth by others due to inflationary pressures. It could also potentially result in more decentralized decision making as opposed to centralization through government intervention resulting from excessive printing of currency which destabilizes economies over time.
Reducing Time Preference with Sound Money
Niemeyer further argues that choosing sound money over fiat allows individuals to reduce time preference actions since they no longer have to worry about inflation eroding the value of any savings over time. The ability to save for future goals without worrying about devaluation will lead people into more rational decisions instead of ones driven purely by impulse or immediate gratification due to lack of options or resources available within fiat systems where there is no guarantee against devaluation over time periods longer than 1 year (or even shorter).
Overall, Niemeyer concludes that embracing sound money like bitcoin can help individuals make better decisions over time since they don’t have to worry about inflation eroding the value of any savings over time while allowing them access into more decentralized decision making processes instead of those dictated by government intervention due excessive printing of currency which destabilizes economies over time..