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Sam Callahan: With regard to current deflation, real estate is simply using a pseudo-store of value because the money is broke. While bitcoin appears with the deflationary nature, if you study “When money dies” and when they’re all denominated in dollars, all those houses, all those mortgages should just see price deflation across the board because everything which is denominated in dollars just gets wiped out in value.
Anyone who holds Bitcoin, everything will become cheaper for them. I think that goes for houses, but it goes for land as well. And then in terms of land, Bitcoin is a technology, but it’s just a technology and it’s going to mix with a confluence of game-changing technologies.
It will be AI, machine learning, 3D printing, Bitcoin, all combined to move us forward with innovation in agriculture and all sorts of things like that. That’s what I’m thinking of in terms of, you better not denominate everything in dollars, including your mortgage. In Weimar, Germany, or one of those hyperinflationary events, people who were storing their wealth in real estate were wiped out. It was just completely wiped out because it was denominated in a currency that was in trouble. That’s how I think it’s going to play out. That’s why trying to bridge Bitcoin now to try to prevent this from happening to a lot of good people is why I think we’re doing what we’re doing in terms of education.
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