# Last edited on 2014-12-11 00:01:37 by stolfilocal
# Posted to "SecondMarket Bitcoin Investment Trust Observer" but deleted as off-topic.

[quote author=marcus_of_augustus link=topic=337486.msg9800508#msg9800508 date=1418244424]
get rich schemas like the hyperinflationary Brazilian govt. issued rials you mean?
how many lives have they destroyed comparatively to all the little cons? the big fiat socialist con is the one you studiously (academically) avoid ...
[/quote]

Rial is the Saudi Arabian currency,  real is the Brazilian one. 

Inflation (loss of purchasing power) of the real was a little under 6% over the last year, and the opposition is scalping Dilma for it.   Inflation (technical) of bitcoin is 10% per year; its loss of purchasing power was like 60% this year.

When the Brazilian government resorts to creating more money, part of it goes to pay hospitals and health care programs, welfare programs, low-cost medicines for chronic patients, road repair, law enforcement, etc.  So it does save many lives -- hundreds of thousands, perhaps millions.  When the bitcoin government creates more money, part of it goes to pay for equipment that cannot do anything but mine bitcoins, part pays for wasted electric power, part goes into the pockets of miners and their investors.

So please stop comparing bitcoins to "filthy fiat" and bitcoiners to bankers and politicians. There is a long way to go before they they can stand the comparison.