Arthur Hayes discussed the advantages of Bitcoin over fiat and gold at the TOKEN2049 conference
Date: 2024-04-19 Author: Henry Casey Categories: IN WORLD
BitMEX co-founder Arthur Hayes spoke at the TOKEN2049 conference in Dubai, sharing his views on the modern financial system and the prospects for Bitcoin. His speech was full of critical analysis of existing financial instruments, as well as proposals for the use of cryptocurrency as an alternative means of storing value.
Hayes drew attention to the difficulties faced by the public in the face of negative returns caused by government policies. He expressed doubts about the effectiveness of the US Federal Reserve's monetary policy, noting that current GDP figures and other statistics are artificially inflated to maintain tension among the population.
In his speech, Hayes also emphasized the obsolescence of the banking system, noting that banks have become archaic in the modern financial world. He expressed the view that it is impossible to make money move when dealing with banks, and gave examples of the difficulties that customers face when transacting with American financial institutions.
Hayes proposed the use of gold as one of the solutions for preserving and increasing savings. However, he also noted the metal's disadvantages, including difficulty in moving and the risk of confiscation. In this context, Bitcoin, according to Hayes, is a more attractive option, having all the advantages of gold, but without its disadvantages.
In summary, Hayes urged conference participants not to miss the opportunity to use Bitcoin as a permanent store of value that can protect their savings from government influence and preserve their value in the long term.
Thus, Arthur Hayes’ speech at the TOKEN2049 conference was not only an analysis of the modern financial system, but also a proposal for alternative strategies for preserving and increasing savings in a changing global economic landscape.
