DeutschRelai is convinced that Bitcoin brings justice of historical proportions to the monetary system. The Swiss financial system presents in a short film why the idea of Bitcoin is so revolutionary. For this purpose, the first cryptocurrency in history is compared with past currencies.
Relai: how Bitcoin Brings Historical Justice to the Monetary System
What makes Bitcoin really special? The Swiss Bitcoin exchange Relai recently addressed this question. In an advertising film, the company contrasts historical problems of the monetary system with Bitcoin. Relai draws a remarkable conclusion: BTC is capable of establishing a previously unique justice in the monetary system.
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Inflation and rising prices are a current problem – this is where Relai’s short story begins. On television, a news anchor announces the decreasing value of the euro. But why is the Eurozone currency losing value at all? Relai begins a historical comparison that begins in the Roman Empire.
“Rome devalued its silver coins with cheap metals,” explains the Swiss Bitcoin company.
This phenomenon was repeated in the Middle Ages, modern times and in the modern era: rulers deliberately reduced the value of their currency in order to gain an advantage for themselves. The population always had to bear the disadvantages of the devaluation of money.
“Citizens had to pay the price for it,” it says in the short film. “In every era, the rulers devalue the money. Every time, people suffer from it,” they continue.
According to Relai, it is precisely this cycle of money creation and devaluation that Bitcoin can stop.
“With Bitcoin, for the first time there is a currency that nobody devalues. The total amount is limited to 21 million.” Therefore, the first cryptocurrency in history cannot be devalued.
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Worthless Fiat Money Has been the New Standard since the 20th Century
The word fiat money describes currencies that are not covered by an underlying commodity. Although the concept of fiat money arose much earlier, the concept became widespread in the 20th century. During this time, the gold standard was abolished worldwide and replaced by the fiat system.
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Fiat money is considered to be unstable and unreliable due to its lack of coverage. Its value is based solely on the belief of its users. The underlying material value is usually significantly lower than the nominal value.
As a result, fiat currencies are susceptible to drastic changes in value. The advantage of fiat money, meanwhile, is only felt by its issuers: they can exercise more control thanks to the fiat system.
“It’s the oldest scam of all time. (…) Today, governments are printing away your assets. Thank God there is Bitcoin 🧡”, concludes Relai.
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