The people behind Bitcoin were basically thinking: Ok, our banking system failed because of low inflation and a savings craze. Let's make both of those worse so that it will never become possible to run an economy on top of Bitcoin.
Fiat banking failed because an aging population has a strong saving preference to the point that it chokes out businesses. The idea behind saving is that you release production capacity in the economy so it can be used on something else. The population isn't going to stop aging. The problem is going to get worse over time. There won't be a something else unless the government artificially uses the savings on that something else.
1992.
The internet was the domain of colleges and government institutions. The Eternal September would begin one year later.
1992.
The Super Nintendo Entertainment System just came out to most of the world, with North America getting it the year before and Japan two years prior.
1992.
One whole year before Doom would come out.
1992.
Windows 3.1 when it was still a DOS shell was released.
We were beating our heads against 386 processors praying for 486s, hopefully with the math coprocessor so we could actually get something done.
Even then, we knew. And now it's nearly 30 years later and it's just as true then as it is today.
The current financial system becomes more robust every time a black swan event like 2008 occurs.
