4 ms·

Can you elaborate on the perverse incentives that spurred cryptocurrencies?

• imtringued 6y ago
  The Fed failed to create inflation and that means low interest rates. The Bitcoin bugs are saying that the real reason is that the purchasing power of the dollar is eroding, but in reality it is too stable.
  • mateuszf 6y ago
    It seems stable if you measure with CPI inflation, but then check real estate prices, healthcare and education prices, stock prices.
    • machiaweliczny 6y ago
      Yeah so inflation is only on suff owned by rich (thus giving them more money) while normal folks have food and energy sources subsidised so they don't revolt and labor costs don't rise. Now you know who controls the government. This gap in real demand expression is skewing markets and might backfire. IMO workers are beeing ripped off by finance class and recently quite hard. So I support some kind of better money. Beside this higher land & property ownership tax and reduced work hours might help IMO.
• mateuszf 6y ago
  I guess OP means long term declining interest rates and their effect on wealth distribution.