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Hard money didn't cause the Great Depression any more than Bitcoin caused the Great Financial Crisis. There were multiple causes for the great depression but so
by lowkey 5y ago
Hard money didn't cause the Great Depression any more than Bitcoin caused the Great Financial Crisis. There were multiple causes for the great depression but sound money was not one of them.
> If you had a partially planned economy to deliver those basics, then you could switch to a harder currency, because an economic slowdown wouldn't head to avoidable mass starvation or homelessness.
This is pure speculation. Luckily we will see the experiment play out with Bitcoin over the next few years. I hardly believe it will lead to mass starvation or homelessness, though the Fiat standard we are currently on already has led to both.