Journal Entry: Olaf James Haugen-08/05/2024-Lesson 7: Digital Economy: Decentralized Finance

Journal Entry

The longer that it is around the more secure it is going to get, The only reason that they say it is volatile is because the value moves up and down at a reasonable rate to earn or lose on it.

The advantage of fiat currency is physical now but you also have the same with bitcoin if you have it on a drive or something like the sort so that’s the same. They play about the same one is digital/Physical And the other is just physical. The disadvantage would be that it is not going to make you more money the longer you hold on to it opposed to BTC which is only gonna get better and better over time and make you more money

When inflation happens to your savings account you lose money because your money is not worth what it once was.

I read a book before about gold and money it was called “How I clobbered every cash confiscatory known to man “Or something as such and in it tells how People tried to turn gold into the standard and everytime someone tried something bad would happen to them so I understand why satoshi would want to remain anonymous.Also, it talks about how like are SSN are like the value in the US currency or some sort anyways it has been a long time since I read the book I was wondering Mike if you could give me some more insight on this Because it almost seems relevant to this crypto in a way. Thank You for your time

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