Fiat Mining Explained
I'm this extensive document I will explain the mechanism of $Fiat (Fiat Currency 💲💵) mining.
For a definition of what Fiat Currency is: Fiat Currency.
How to mine:
Step 1. Perform a job for Fiat
Step 2. Buy something for Fiat
Step 3. Declare, "This is mine."
Step 4. The money printer makes more Fiat than you have and everyone else has and now everyone needs to service their "property".
Step 5. Price goes up because money is handed out to government servicers, contractors, employees and via government services.
Step 6. Those who get the Fiat first can front-run prices and they offer to buy your property for more than you paid for it!
Step 6. Wow! You made a profit!
Step 7. Oddly enough your money doesn't buy what it used to and you need to work harder and longer hours to buy (mine) more Fiat.
Step 8. Get a raise or get a job paying more or buy less crap.
Step 9. Save money.
Step 10. Your savings are outpaced by the money printer and you need to "invest" so you give your savings and earnings to someone else. Your mine is now their mine.
Step 11. You work even harder to mine Fiat or you get a job in the government.
Step 12. You work for the government and you tell people that what was theirs is now yours (mine).