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Even if I agreed with all your points (which I don't) why would the US government switch to BTC if that limited what the Fed could do? This is a debilitating f
by deeg 4y ago
Even if I agreed with all your points (which I don't) why would the US government switch to BTC if that limited what the Fed could do? This is a debilitating flaw of BTC.
I suppose if a vast majority of Americans demanded a switch to BTC it could be done but if that was a real possibility it would be much easier to demand laws to stop the Fed instead of switching to a new currency.
But the government won't switch to BTC and the people will never demand it because a limited currency would hurt the economy by limiting growth.
- eric_cc 4y ago> I suppose if a vast majority of Americans demanded a switch to BTC it could be done but if that was a real possibility it would be much easier to demand laws to stop the Fed instead of switching to a new currency. Stopping the fed would certainly be a great start. But we still need to switch currencies to one that cannot be created or controlled by the government. Whether bitcoin or something else, currency creation schedule should be damn near immutable, predictable, and the protocol should be ossified. A currency that is unpredictable and can be created whenever the government pleases is unacceptable.