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> I disagree - I trust much more strongly that Bitcoin will not be mismanaged than the USD, because bitcoin is governed by very simple and utile rules that are
by ardy42 6y ago
> I disagree - I trust much more strongly that Bitcoin will not be mismanaged than the USD, because bitcoin is governed by very simple and utile rules that are practically impossible to change, whereas the USD can be and has been inflated substantially.
Following fixed, unchanging rules is kind of the opposite of being managed, let alone well-managed.
> ...especially as Bitcoin comes to be the reserve asset of a larger and larger set of productive economic actors.
"If" not "as": that hasn't happened yet and it's quite likely that it won't happen.
- centimeter 6y agoFor a monetary asset, being “managed” is a liability.
- ardy42 6y ago> For a monetary asset, being “managed” is a liability. I'm not so sure of that. For instance: Bitcoin isn't money, but something that people hoard and speculate on. If it was more actively managed, its parameters could perhaps have been tweaked until it started actually acting more like money.