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When you have to write propaganda about a thing that's long-term been identified as "bad," (with ample historical examples) actually being a good thing, you're
by rglover 5y ago
When you have to write propaganda about a thing that's long-term been identified as "bad," (with ample historical examples) actually being a good thing, you're being willfully dishonest and in denial.
Many here will fight and bicker and kick and scream but Bitcoin is the only solution to the absolute ruin being dangled over the millenial and younger generations (primarily because it disconnects state/human control of the currency and programmatically enforces a cap on issuance while ensuring transparency and consensus on a global level).
- chasd00 5y agoi don't know about bitcoin but you do have a point about the current spin being put on high inflation. High inflation is universally known as bad for an economy.. until now for some reason.
- rglover 5y ago> High inflation is universally known as bad for an economy.. until now for some reason. Because, presumably, the shoe is about to drop and they want citizens to willfully accept their savings/investments going to zero and replaced with a digital surveillance currency (CBDC or Central Bank Digital Currency). If they can convince the general population that "inflation is good," they're less likely to take flight to alternatives like metals, Bitcoin, land, etc or try to behead the bankers who stole their wealth. IMO, MMT is just Stockholm Syndrome rebranded for finance.
- standardUser 5y agoI don't think anyone is arguing in favor of sustained high inflation, and we also don't currently have sustained high inflation. But some inflation is good for the economy, and current inflation currently hasn't gone much past "some" after being extremely low for a very long time despite obvious inflationary pressure.
- DethNinja 5y agoHigh inflation rates just after a supply shock will wipe-out the middle class and push most to poverty. Honestly, I can't believe more people aren't buying Bitcoin at this stage.
- imtringued 5y agoBitcoin is permanent money. It suffers from the same provlem. Introduce it as a global currency and one day you will realize that there are more than 20 million Bitcoin. I can guarantee it. Permanent money simply doesn't work. The world isn't as permanent as gold.
- rglover 5y agoYou don't understand Bitcoin, then. Look into the halving mechanism. The supply isn't a variable just set by anyone. And even if you mess with that algorithm, the rest of the network would have to accept the changes (which would designate a hard fork and create a new currency that wasn't Bitcoin).