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Fiat money is a 50 year experiment that will fail.
by cft 5y ago
Fiat money is a 50 year experiment that will fail.
- jc_811 5y agoDefinitely not trying or wanting to be abrasive - but any chance you could provide evidence or data displaying the accuracy of this point of view?
- DINKDINK 5y agoAll economic goods experience production pressures when their replacement costs are lower than their market prices. When the marginal production costs of a money is effectively 0 and the market price for new money is >0 (Seigniorage), the long term supply will tend towards infinity. Hence money systems have developed with competitive Seigniorage; e.g. producing marginally more money is in direct competition acquiring the money from a private owner (bitcoin).
- spinchange 5y agoIf all national currency is doomed to fail what makes you think something like blockchain projects are built to stand the test of time?