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you also, however, don't want your government to utterly collapse

• simonh 4y ago
  True, but that’s a completely separate concern. Frankly that’s likely going to happen anyway. El Salvadorians suddenly trusting the government with large amounts of their cash isn’t going to make that government any more fiscally competent. Better not to go down with them.
  • spywaregorilla 4y ago
    It's not a separate concern if you're arguing the government should not be able to print its own currency.
    • simonh 4y ago
      I didn’t say any such thing and I don’t see how that’s relevant as remittances from the US are generally in Dollars, not local currency.
      • spywaregorilla 4y ago
        Sure, whatever. I didn't mean you specifically. My point is merely that crypto enthusiasts and radical individiaulists often praise the concept of the government not being able to inflate their money with printing. Which, yeah, has downsides. But there's also downsides to your government going broke. Like your society falling apart, which increases the cost of local goods, and then bam, suddenly you've got inflation anyway even if the value of the coin remains the same on an FX level.