4 ms·
Printing money addressed the immediate problem of having to save people and businesses during the pandemic. Now the mess needs to be cleaned up of course but ho
by _Microft 5y ago
Printing money addressed the immediate problem of having to save people and businesses during the pandemic. Now the mess needs to be cleaned up of course but how would one have solved that pandemic problem in a crypto currency world?
- shadowgovt 5y agoPurely hypothetically: allow large institutions with external credit-backing (in the Pratchett sense... "four gold golems") to transact when they have no money, essentially gaining a negative balance. In other words, there's technically nothing about crypto stopping a large, trusted institution from deficit-spending if people allowed the rules to allow it. Of course, if the rules of the crypto network disallow it, then institutions can't spend on future value and you get a sovereign bankruptcy situation. Few people who have lived through one would recommend it.