Is the Anger Toward Fiat Currency Justified?

Back in 2012, the Cato Institute published a paper titled The Coming Fiat Money Cataclysm and the Case for Gold. The libertarian think tank is hardly unique in its animosity toward the fiat currency system, nor was its 2012 paper wholly unique in its concepts and sentiments. It did, however, predict some of the issues we are trying to resolve today, notably inflation linked to the era of “cheap” money through low-interest rates.

Today, if you look at social media, particularly platforms like Reddit and Twitter/X, you’ll also find plenty of derisory posts about the fiat system. What’s more, we might argue, albeit unscientifically, that the backlash is growing. Some of this can be quantified. For example, there is some correlation between the rise of Bitcoin as hard money with a limited supply and
the criticism of the fiat currency system. However, some of it is not so easy to quantify, such as the animosity toward fiat currency being linked to wider dissatisfaction with the state.

But is any of it justifiable? The problem with answering that question is that there are both economic and sociological answers. The former is easier to frame, whereas the latter is not. Let’s start, though, by analyzing what we mean by fiat currency, which will help us understand its critics.

Fiat currency is effectively all money

Fiat currency is essentially money not backed by a physical commodity (gold or silver, for instance). It is, therefore, nearly all the money in existence in the world today. When you look at the trillions of dollars being traded in forex markets, it is fiat currency that’s being traded. The Canadian dollar used to be partially backed by gold, and some of its value is derived
from oil prices, but despite some arguments to the contrary, it remains a fiat currency.

So, why, then, should we criticize money? Well, it’s due to the fact that having no physical backing, such as a lump of gold or a barrel of oil, central banks and governments can print that money out of thin air. The charge against it is that printing new money creates more of it (naturally), and that eventually devalues it. You’ll often see anti-fiat accounts on Twitter/X
posting charts of how their currency’s purchasing power has declined or will decline over time. This is the economic argument against fiat currencies.

This chart shows how many years it would take for each fiat currency to lose 50% of its buying power if today's inflation rates remained constant.

The red line marks the average number of years worked before retirement.

There will be no retiring if one chooses to save in fiat. pic.twitter.com/P5CjXg5v3e

— Sam Callahan (@samcallah) April 2, 2024

However, the argument loses merit when certain factors are pointed out. Yes, the Canadian dollars in your pocket lose purchasing power over time, and that’s why you can’t buy a house for the same price as your grandparents. Yet, you also will earn a lot more than your grandparents. If something used to cost a dollar and you earned ten per hour later costs five
dollars, yet you earn fifty per hour, there isn’t really a problem. Of course, that’s just the theory, and it does not always work that way in practice.

Wages keeping up with inflation

In Canada, for example, disposable personal income has tripled since 2001. It also increased in the last quarter of 2023 (the latest period for measurement). Have wages kept up with inflation? Not always; you might look at everything from the cost of a cup of coffee to your mortgage payments to consider that it hasn’t. But the problem is not fiat currency in and of itself. It is the balance between price rises and the amount of money you earn. From the period 2019-2022, average hourly wages grew 12.5% in Canada; CPI rose 10.1% in that time. There were accelerated periods of inflation, particularly in the aftermath of the pandemic, but on balance, wages kept up with inflation.

Now, none of this is meant to say that the fiat system is perfect, nor does it suggest that the government and central banks get it right on balancing the system. But broadly speaking, the antagonism toward fiat currency tends to be more sociological than economic. In short, people are angry at the system, not fiat currency itself. Those pushing the demise of fiat currency are often anti-establishment, at least ostensibly. They are interested in concepts like Bitcoin not only for financial reasons but also because it is not a creation of the state.

Their concerns do go into other areas, such as central bank digital currencies (CBDCs), and it leads them to see the fiat currency system as one of control. How valid are those concerns about CBDCs? We would be foolish to dismiss them, and there should be perhaps a sense of frustration that the mainstream media is broadly ignoring the threat. At the moment, the official line from Canada is that there are no plans for a CBDC – yet. However, and this is important – the BoC is apparently researching the “need” for one in the future.

What would that “need” be? Could it be the control of citizens’ finances? There is an all-too-scary suggestion that this could be the route that governments take, where fiat currency becomes less money and more like social credit. You drink or gamble too much? Well, the government will freeze the money in your account until you prove you are spending responsibly. If we go into a situation where fiat currency becomes a system of control, then inflation is the least of our worries.

For some, there is a sense of a tipping point on the horizon. We have this situation where governments are constantly printing money – and taking on huge amounts of debt – and we have the specter of CBDCs. You can, therefore, understand the allure of Bitcoin and other decentralized forms of currency, although those systems in themselves are not perfect. The
question, though, is whether we meet these challenges before the tipping point is reached?

Todayville Content Team

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The Rise of Crypto Casino Games: Why They’re Becoming a Global Trend

Published on October 29, 2024

Todayville Content Team

The online casino industry has evolved rapidly in recent years, with one of the most notable developments being the rise of crypto casino games. As the world becomes increasingly digital,
cryptocurrencies like Bitcoin, Ethereum, and others have become popular payment methods across numerous industries, including online gaming. At the forefront of this movement, platforms like the Playbet casino are leading the charge by offering players the option to wager with digital currencies, providing them with a secure, fast, and innovative gaming experience.

In this post, we’ll explore why crypto casino games are becoming a global trend, the benefits they offer to both players and casinos, and what the future holds for this growing sector of the gaming industry.

What Are Crypto Casino Games?

Crypto casino games are similar to traditional online casino games, except that they allow players to use cryptocurrency for betting and payouts. These games, which include everything from slot machines to table games like blackjack and roulette, are becoming increasingly popular due to the unique advantages that crypto offers.

Crypto casinos operate on blockchain technology, which makes them highly transparent and secure. Players can place bets, receive winnings, and withdraw funds in a matter of minutes, without the need for traditional banking intermediaries.

Why Crypto Casino Games Are Gaining Popularity

Several factors are contributing to the growing popularity of crypto casino games. Here are some key reasons why more players are opting for crypto-based gaming platforms:

● Anonymity and Privacy: Crypto transactions do not require personal information, making it easier for players to maintain their privacy while playing.
● Faster Transactions: Cryptocurrency payments are processed quickly, with deposits and withdrawals often being completed in a matter of minutes.
● Lower Fees: Crypto transactions generally come with lower fees than traditional payment methods like credit cards or bank transfers, meaning more of your winnings stay in your pocket.
● Global Accessibility: Since cryptocurrencies are not tied to any specific country, players from around the world can access crypto casinos, even in regions where traditional online gambling may be restricted.

These factors make crypto casinos an attractive option for players who value security, speed, and privacy in their online gaming experience.

A Comparison: Traditional Online Casinos vs. Crypto Casinos

Let’s take a closer look at how crypto casinos compare to traditional online casinos in a few key areas:

Feature Traditional Online Casinos Crypto Casinos

Transaction
Speed 1-5 business days for withdrawals Instant or within minutes

Anonymity Personal information required Anonymity maintained via blockchain

Fees High banking and transaction fees Lower or no transaction fees

Accessibility Limited by regional regulations Available to players globally

Security Centralized and vulnerable to breaches Decentralized and highly secure

From this comparison, it’s easy to see why crypto casinos are growing in popularity. The ability to deposit and withdraw funds quickly, maintain anonymity, and avoid high fees makes these platforms appealing to players around the globe.

Advantages of Playing Crypto Casino Games

Crypto casino games offer unique benefits that set them apart from traditional gaming platforms.
Here’s why more players are making the switch:

1. Enhanced Security: Blockchain technology ensures that transactions are secure and cannot be tampered with, providing players with peace of mind when gambling online.
2. Transparency: Many crypto casinos use provably fair algorithms, allowing players to verify the fairness of each game outcome.
3. Cross-Border Play: Players from different countries can access crypto casinos without worrying about exchange rates or regional restrictions.
4. Bonus Incentives: Crypto casinos often offer more lucrative bonuses and promotions, particularly for those betting with digital currencies.

This combination of factors is helping to drive the global trend of crypto casino games, as players seek out platforms that offer both convenience and a superior gaming experience.

Key Players in the Crypto Casino Market

As the demand for crypto casino games continues to rise, several platforms have emerged as leaders in this space. Here’s a quick look at some of the top crypto casinos:

● Playbet Casino: Known for its wide variety of crypto casino games, the Playbet casino provides players with a seamless experience by accepting multiple cryptocurrencies and offering fast withdrawals.
● BitStarz: One of the pioneers of crypto gambling, BitStarz is known for its vast selection of games and excellent customer service.
● FortuneJack: FortuneJack offers players a secure and anonymous gaming platform with plenty of bonuses for cryptocurrency users.

These platforms are setting the standard for crypto casinos, attracting players from all over the world with their innovative features and user-friendly interfaces.

The Future of Crypto Casino Games

The future looks bright for crypto casino games, with several trends likely to shape the industry in the coming years:

● Wider Adoption of Cryptocurrencies: As more people become familiar with digital currencies, the demand for crypto casinos will continue to rise. This growth is especially prominent in regions where access to traditional banking services is limited.
● Blockchain Innovations: Future developments in blockchain technology could further enhance the security, speed, and transparency of crypto casinos, making them even more appealing to players.
● Regulation and Compliance: As the crypto gambling industry grows, governments may introduce regulations to ensure fair play and protect consumers. This could lead to a more structured and reliable gaming environment for crypto enthusiasts.

Key Considerations for New Players

If you’re new to crypto casino games, here are a few things to keep in mind:

● Choose a reputable platform: Look for crypto casinos with strong user reviews, provably fair games, and secure payment options.
● Learn about cryptocurrency: Familiarize yourself with how cryptocurrency transactions work, including how to store, buy, and transfer digital coins.
● Start small: If you’re new to crypto gaming, start with smaller bets to get a feel for how the system works before committing larger amounts.

Conclusion

The rise of crypto casino games represents a major shift in the world of online gambling. With advantages like faster transactions, lower fees, and greater privacy, it’s no surprise that more players are turning to platforms like the Playbet casino to enjoy the benefits of cryptocurrency-based gaming. As blockchain technology continues to evolve, we can expect the crypto casino industry to grow even further, attracting a new generation of gamers who value security, transparency, and innovation.

Whether you’re a seasoned online gamer or new to the world of cryptocurrency, crypto casinos offer an exciting and fast-paced alternative to traditional gambling platforms. The future of online gaming is digital, and crypto casinos are leading the charge.

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Top 6 Online Casinos in Canada: Betting Smart for Entrepreneurial Success

Published on October 20, 2024

Todayville Content Team

Did you know there are similarities between successful gambling and entrepreneurship? If you want to succeed at either one, you must create comprehensive strategies to generate profits and reduce losses.

When you learn how to master the art of betting at online casinos, you can take this knowledge and apply it to your entrepreneurial endeavors. After all, starting a business is like gambling because you are betting money with the hope of seeing a profitable return. So, if you can learn to profit from gambling, you will know how to profit from business.

First, you need to find the best and fairest online casinos in Canada to learn how to bet smarter. Then, you will be on your way to achieving entrepreneurial success.

Below are the top 6 online casinos in Canada that can help you achieve this objective.

1) 7Bit Casino

7Bit Casino offers plenty of variety when it comes to the game selections and payment methods available. Entrepreneurs may want to experiment with depositing, gambling, and withdrawing cryptocurrencies like Bitcoin on the 7Bit platform. Cryptocurrencies could potentially be the digital currency of the future, so it might help to gain experience by conducting transactions in it.

2) Lucky Nugget

Lucky Nugget has been a well-established online casino for over 30 years. It is great for new Irish players and entrepreneurs who want to learn how to make a fortune with a relatively small investment. Since the casino offers generous spin bonuses, you can make the most money playing slots with your small deposit amounts.

3) Royal Vegas

Royal Vegas offers a 100% match welcome bonus of up to $1,200. The casino is a highly secure platform that holds three different gaming licenses, including iGaming Ontario, Malta Gaming Authority, and Kahnawake Gaming Commission. Entrepreneurs can learn to make safe investments to double their money by depositing higher amounts of up to $1,200.

4) Weiss Bet

Weiss Bet is a rather new online casino in Canada since it was founded in 2021. However, it has proven itself to be a competitor in the Canadian gambling industry with its 300% welcome bonus, free spin bonuses, 40% cashback, and other fabulous reward offerings. Entrepreneurs have plenty of opportunities to practice betting and perfecting their strategies with the free spins and bonuses available.

5) Casino Rocket

Casino Rocket features over 1,000 fun and exciting games for players to enjoy. It offers up to a $1,500 welcome bonus and the ability to gamble in several different currencies. You can practice betting in foreign currencies to prepare you for international business as a global entrepreneur.

6) Bet Victor

Bet Victor is a licensed and luxurious online casino with over 600 games and quick payouts. The casino is based in Ontario, Canada, but operates in over 160 countries worldwide. It even has an online sportsbook for betting on international sporting events. Entrepreneurs may want to focus on the sports betting feature because it will teach them to make predictions based on reviewing past performance records.

Conclusion

Trading and gambling have similar risk management habits, and both seek a way to profit while minimising losses By locating top Canadian online casinos such as 7Bit, Lucky Nugget, and Royal Vegas through it, you can learn to gamble wisely as well You can build decision-making skills that translate into business success. These casinos offer a variety of rewards, games, and opportunities to try different currencies, giving you a mindset that values careful research, flexibility, and calculated risk—key attributes available to any successful entrepreneur.