Bitcoin Has No Top Because Fiat Has No Bottom: Understanding Monetary Debasement | ZeroHedge
Via Bitcoin Magazine,
Bitcoin has been touted as the solution to monetary debasement, but what is debasement really, and where does it come from?
MONETARY DEBASEMENT
Debasement refers to the action or process of reducing the quality or value of something. When talking about fiat currencies, debasement traditionally refers to the practice of reducing the precious metal content in coins while keeping their nominal value the same, thereby diluting the coin’s intrinsic worth. (more…)