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You can always convert bitcoin to fiat and vice versa. Other countries/currencies exist and regardless, we have decentralised exchanges like Bisq. > Look at wh
by npoc 3y ago
You can always convert bitcoin to fiat and vice versa. Other countries/currencies exist and regardless, we have decentralised exchanges like Bisq.
> Look at what happened with Britain after 1918 when tried doing everything they could to stick with "hard" money and avoid devaluation/dropping the gold standard.
Soft money wins in the short term. Hard money wins in the long term.
- qwytw 3y ago> Soft money wins in the short term. Hard money wins in the long term. What do you mean by that? Repeatedly saying the same thing multiple times doesn't make it any more accurate. The type of "hard" money you're talking about only work in mostly static economies with untrustworthy and ineffective governments, under other conditions it inhibits growth and causes all sort of economic instability and much deeper boom and bust cycles (mainly for the "bust" part, Fiat money is the opposite). It "wins in the long term" because it's sort of a fallback option when there are no other alternatives (i.e. most of human history) but far from the optimal one.
- npoc 3y agoSoft money is like a credit card that takes money from the population without them realising. You can use this money to produce a short term effort but you (or should I say, _they_) pay the consequences later. Just look at what has happened to most of the west over the last 50 years. Hard money is fair money. Populations thrive when built on a fair foundations. Does the stealth taking of my wealth and giving it to the bankers benefit or harm society?
- qwytw 3y agoDoes a system which discourages any investment and makes borrowing extremely expensive benefit or harm society?