4 ms·
> simply renationalize the Fed and put legislated limits on dollar monetary inflation. Nothing simple about that though since the current system benefits the m
by reedjosh 5y ago
> simply renationalize the Fed and put legislated limits on dollar monetary inflation.
Nothing simple about that though since the current system benefits the most powerful.
This _is_ why bitcoiners treat it like a religion. There is no traditional political way to return to sane monetary standards. Moving to BTC removes the untrustworthy governmental control from the equation.
Bitcoin's energy usage is only necessary as a hedge against powerful actors trying to kill it. Proof of stake currencies are great, but it's likely if bitcoin hadn't paved the way, any such system would have been killed by a state actor since it hurts their main source of finance.
- billytetrud 5y agoIndeed. I meant its a simple idea. It would be simple to write a lwa for it. But of course, it would be politically fraught. Similarly tho, it wouldn't be politically simple to switch back to gold-backing. But yes, hopefully bitcoin can save us from this mess one day.