5 ms·
> but how is Bitcoin better? But if you try explain why fiat sucks, USD sucks you would know the answer isn't it. Bitcoin is the answer to central mismanageme
by sunshinerag 5y ago
> but how is Bitcoin better?
But if you try explain why fiat sucks, USD sucks you would know the answer isn't it.
Bitcoin is the answer to central mismanagement of monetary policy, theft via inflation and corruption by monetary expansion.
And you can't grab it from citizens like a physical commodity. They have to try harder. much harder.
- imtringued 5y ago>Bitcoin is the answer to central mismanagement of monetary policy, theft via inflation and corruption by monetary expansion. But Bitcoin is just a different kind of mismanagement. If you apply Say's law with the modification that money is also something to be produced then all that Bitcoin mining is fighting a mismanaged monetary policy. During the gold standard people realized that mining gold is more profitable than other forms of work. People hate negative interest rates just as much as inflation even though negative interest rates allow perfect price stability and would allow Say's Law to apply without the modification.