4 ms·
Would it not make sense to have a crypto solution to the inflation problem? Can't governments initiate a crypto currency which can be only used for a basket of
by sumitkumar 4y ago
Would it not make sense to have a crypto solution to the inflation problem? Can't governments initiate a crypto currency which can be only used for a basket of goods and the providers of these goods can then exchange this currency for input goods or fiat money after verifying. This crypto coin can be distributed to everyone every month/week and with a expiry date.
What I understand is that inflation in high price goods gets passed on to the essential goods as a lifting tide lifts every boat but these can be decoupled.
- alangibson 4y agoYou just invented food stamps. This another great example of why there are no compelling crypto use cases besides criming.
- dragonwriter 4y ago> Would it not make sense to have a crypto solution to the inflation problem? No. > This crypto coin can be distributed to everyone every month/week and with a expiry date. So, you are reinventing ration cards, but with a lot of extra complication? It... doesn't solve, or even address, inflation. It does create a black/gray market, though, with the usual attendant crime around such markets.
- deleted 4y ago[deleted]
- mftrhu 4y agoWe already have food stamps.
- censor_me 4y ago[dead]
- shafoshaf 4y agoThere is no such thing as decoupling when there is a cash equivalent. For example, in the US a lot of welfare funds are handed out in the form of food stamps. This has created a secondary market in food stamps where people sell them to get cash. Also, the mere fact of having the food stamps frees up funds for other things where the consumer can spend more on "non-essential" goods carrying the inflation with it.