3 ms·
> creating money at will is not a bug, its a feature Despite the stupid downvotes, this is true. Of course the mechanism can be abused by printing money that
by goodpoint 4y ago
> creating money at will is not a bug, its a feature
Despite the stupid downvotes, this is true.
Of course the mechanism can be abused by printing money that are not backed by real growth (like in the US), but most countries don't do that.
- audleman 4y agoIn reality, only 13% of our planet’s population is born into the dollar, euro, Japanese yen, British pound, Australian dollar, Canadian dollar or Swiss Franc. The other 87% are born into autocracy or considerably less trustworthy currencies. 4.3 billion people live under authoritarianism, and 1.2 billion people live under double- or triple-digit inflation. [https://bitcoinmagazine.com/culture/check-your-financial-privilege https://bitcoinmagazine.com/culture/check-your-financial-pri...] Since 1920, at least 55 hyperinflation events have taken place, destroying savings and creating economic hardship. [https://assets.website-files.com/614e11526f6630959fc98679/616df63a27a7ec339f5e6a80_NYDIG-BitcoinNetZero_SML.pdf https://assets.website-files.com/614e11526f6630959fc98679/61...] A stable currency and strong property rights are the exception, not the rule.