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> So unless one used a fiat to ban all but a fixed number of cryptos, you get inflation anyway. This is the US' plan to outrun this depression, based on recent
by aaaaaaaaata 4y ago
> So unless one used a fiat to ban all but a fixed number of cryptos, you get inflation anyway.
This is the US' plan to outrun this depression, based on recent cryptocurrency related legislation. Change my view.
- jfengel 4y agoI don't think I can change your view, since I don't really understand it. The recent cryptocurrency legislation is mostly about trying to get existing securities laws to cover crypto. They spent a century playing whack-a-mole with various scams, frauds, etc. on other things that people invest in. That's always the way: they codify one scheme as illegal, then people find a way to subvert it, repeat. I don't think they care one way or another about the current recession. (It's unlikely to be a depression, though it's not impossible.) I'm sure they'd be just as happy to be able to get their inch of green from all those crypto transactions going on, but they're a lot more concerned about supply-side issues (oil, chips, gas, grain from Ukraine) than monetary issues. (There are also monetary issues, and they should have tackled them at least five years ago. But they're handling those in the conventional fashion, and it seems to be working in the conventional way, if very belatedly.)