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> I’m very interested to see what happens with these nations that have adopted bitcoin as a currency I know relatively little about economy at large scale, but
by me_me_me 5y ago
> I’m very interested to see what happens with these nations that have adopted bitcoin as a currency
I know relatively little about economy at large scale, but crypto use as nation's currency is a disaster at many levels. Country not being able to control (and manipulate) its money is a recipe for a disaster as you cannot steer your ship. Devaluing or strengthening currency allows you to affect import/export ratios.
Deflationary nature of BTC means that future generations will be progressively more and more at disadvantage. Because wealth accumulation favors the early winners, making entry barrier harder and harder. It de-incentivizes spending - ie the thing that makes economy go.
I am not sure if those two thing could be upsided with anything that crypto provides.
- aww_dang 5y agoIs there no value to incentivizing saving? This is ironic from my perspective. If we believe that crypto is a bubble, then it is worth asking what are the forces driving this? Could it be an atmosphere of negative real interest rates, driven by artificially cheap credit? Isn't this the way central bankers have been steering the economy? Yet in your comment, you suggest that this same central planning is virtuous. It appears as a contradiction in logic from where I stand.