You don't necessarily have to believe in Bitcoin, but there's an undeniable truth: excessive issuance of currency is a stubborn disease of human civilization that has never stopped. From another perspective, Bitcoin is less of a financial revolution and more of a gentle exploration by humanity seeking stability in an era of monetary overabundance and weightlessness.

Why do those in power always love to print money? Simply put, currency itself is a tool of power. Whether in centralized regimes or democratic systems, once faced with shocks like war, infrastructure investment, or debt crises, the best risky move for those in authority is to increase money supply—lowest cost, minimal political resistance. This isn't a modern trick; it's a vicious cycle that runs through the entire history of civilization.

Look at history: During the Mesopotamian period, debt systems indirectly facilitated currency expansion, turning farmers into slaves due to debt; in ancient Greece and Rome, they played the game of devaluing currency by reducing metal content to dilute wealth, resulting in soaring prices and even military mutinies; during the Song and Yuan dynasties, with the advent of paper money, the cost of over-issuance was nearly zero, and by the end of the Yuan Dynasty, banknotes flooded the market, directly triggering the Red Turban Rebellion; even the much-praised gold standard collapsed completely in the face of the fiscal vampires of two world wars.

The turning point came in 1971—when the dollar officially decoupled from gold, ushering in the era of pure fiat currency. From that moment on, excessive money issuance completely shed physical constraints and entered a phase of wild growth.

So who always loses out? It’s always the ordinary people. The Cantillon Effect curse never expires: the elite class gets the newly printed money first, seizing high-quality assets before prices rise; by the time ordinary people receive their devalued wages, they are already at the top of a bubble, forced to buy in at inflated prices. From 1971 to now, this play has been repeated over and over, each scene a siphoning of wealth from bottom to top.