Imagine a society where everyone was driven to produce more and consume less?

Our current monetary system relies upon inflation and increased consumption. As governments pump more currency into the money supply, the value of existing currency is depreciated. This steers people toward buying income-producing assets in order to preserve their wealth. They make money simply by owning things such as real estate. But this focus on acquisition contributes little productivity to the real economy.

Those unable to afford assets are forced to live hand to mouth in an endless cycle of lifelong labour. Year after year their blood, sweat and energy is consumed by the system. At the end of a long hard life, they are left with little to show for it. Most of their energy has gone toward feeding the voracious appetites of the asset-owning classes.

By contrast, unlike our current expanding and inflationary monetary system, Bitcoin is based upon a finite supply. It is also almost infinitely divisible. This means it can be spread around the world without increasing the supply. Over time it appreciates rather than depreciates in value.

For example, a house purchased with dollars will be worth more dollars in ten years time. But a house purchased with bitcoin will be worth less bitcoin in ten years time.

This motivates people to save instead of spending Bitcoin. It also drives them to provide desirable goods and services in order to acquire bitcoin. Therefore the advantage goes to those who produce more and consume less.

So what would life be like under this system?