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The world is facing a climate crisis. Which is mostly caused by humanity using fossil energy to boost the output of the economy. An economy that expends the e
by ephbit 4y ago
The world is facing a climate crisis.
Which is mostly caused by humanity using fossil energy to boost the output of the economy.
An economy that expends the energy on so many more things than just enabling people to be fed and live modestly comfortable lives.
An economy that is thus harmful as it entirely neglects the urgent crisis.
Humanity is at a point where we ought to think about actually cooling down the economy to drastically reduce our emissions until industries and energy generation will slowly turn to being climate neutral.
The much decried deflation is precisely what would be the better dynamic for the economy in this situation, rather than an inflation dynamic that virtually turbo charges the system.
I'm aware that this is a bold statement, but I wouldn't be surprised if in some 50-100 years Bitcoin were to turn out as the fundamental technology that enabled humanity to overcome the crisis, despite consuming resources that right now appear to many as wasted.
To make it blunt: yes, I absolutely think that in our current situation inflation _is_ a bug. Possibly a fatal one.
- CTDOCodebases 4y agoI agree with everything you said. As it stands our current civilisation is a ponzi scheme that relies on constant technological innovation in order to sustain itself. This constant technological innovation is partly fueled by the deterioration of value built into the money system. When I said it was a feature not a bug I was talking about it from a nation state perspective. The problem with the Bitcoin community is that they don't acknowledge the indirect benefits of fiat that they benefit from so they are blinded to the potential benefits to the environment that Bitcoin could provide.