4 ms·

Calling fiat money as real money is hypocrisy. Fiat is printable, bitcoin is not and have limited amount, same as gold.

pindab0ter 2y ago
Bitcoins in practice are not truly limited. The amount of gold on earth is not likely to change much, despite the efforts of alchemists in the past. However, new bitcoins (with new limited supplies) are introduced all the time.
- t0bia_s 2y ago
  How so? Isn't 21 mil BTC defntive?
  - pindab0ter 2y ago
    21 mil BTC is set. But how many new BTC alternatives have been launched since?
    - t0bia_s 2y ago
      So?
SuperSandro2000 2y ago
Who tells you that no one is ever going to change the code and just print more? It is just trust that this is not going to happen.
- t0bia_s 2y ago
  Everyone who can read source code of bitcoin. Do you belive in debt that current fiat money represent?
throw0101a 2y ago
> Fiat is printable, bitcoin is not and have limited amount, same as gold. Having a limited amount is a bug, not a feature. Being able to create and destroy money is a feature and a not a bug. * https://archive.is/https://www.theatlantic.com/business/archive/2012/08/why-the-gold-standard-is-the-worlds-worst-economic-idea-in-2-charts/261552/ https://archive.is/https://www.theatlantic.com/business/arch... Monetary flexibility to deal with economic shocks is a handy thing to have.
- t0bia_s 2y ago
  Limit gives you value, adding more devalue currency. One of reasons of inflation. Actually one aspect of currency is storing a value, which it is not anymore with printing.
  - throw0101a 2y ago
    > Limit gives you value, adding more devalue currency. One of reasons of inflation. Another way of creating value is through innovation, which often needs easy(er) access to capital to research, develop, and produce it: > But Inflation is not inevitable. There are numerous countervailing forces that have been at work for much of the past 50 years. The three big Deflation drivers: 1) Technology, which creates massive economies of scale, especially in digital products (e.g., Software); 2) Robotics/Automation, which efficiently create more physical goods at lower prices; and 3) Globalization and Labor Arbitrage, which sends work to lower cost regions, making goods and services less expensive. * https://ritholtz.com/2021/02/stop-stressing-about-inflation/ https://ritholtz.com/2021/02/stop-stressing-about-inflation/ A fixed money supply often leads to economic stagnation due to a lack of access to capital: * https://en.wikipedia.org/wiki/Great_Bullion_Famine https://en.wikipedia.org/wiki/Great_Bullion_Famine The stagnation was sometimes only stopped through lucky discovery of gold deposits: > Monetarists believe that the 1873 depression was caused by shortages of gold that undermined the gold standard, and that the 1848 California Gold Rush, 1886 Witwatersrand Gold Rush in South Africa and the 1896–99 Klondike Gold Rush helped alleviate such crises. * https://en.wikipedia.org/wiki/Long_Depression https://en.wikipedia.org/wiki/Long_Depression Do you want economic growth and innovation to be dependent on the amount of shiny rocks we happen to find lying about?

Bitcoins in practice are not truly limited. The amount of gold on earth is not likely to change much, despite the efforts of alchemists in the past. However, new bitcoins (with new limited supplies) are introduced all the time.

t0bia_s 2y ago
How so? Isn't 21 mil BTC defntive?
- pindab0ter 2y ago
  21 mil BTC is set. But how many new BTC alternatives have been launched since?
  - t0bia_s 2y ago
    So?

SuperSandro2000 2y ago

Who tells you that no one is ever going to change the code and just print more? It is just trust that this is not going to happen.

t0bia_s 2y ago
Everyone who can read source code of bitcoin. Do you belive in debt that current fiat money represent?

throw0101a 2y ago

> Fiat is printable, bitcoin is not and have limited amount, same as gold. Having a limited amount is a bug, not a feature. Being able to create and destroy money is a feature and a not a bug. * https://archive.is/https://www.theatlantic.com/business/archive/2012/08/why-the-gold-standard-is-the-worlds-worst-economic-idea-in-2-charts/261552/ https://archive.is/https://www.theatlantic.com/business/arch... Monetary flexibility to deal with economic shocks is a handy thing to have.

t0bia_s 2y ago
Limit gives you value, adding more devalue currency. One of reasons of inflation. Actually one aspect of currency is storing a value, which it is not anymore with printing.
- throw0101a 2y ago
  > Limit gives you value, adding more devalue currency. One of reasons of inflation. Another way of creating value is through innovation, which often needs easy(er) access to capital to research, develop, and produce it: > But Inflation is not inevitable. There are numerous countervailing forces that have been at work for much of the past 50 years. The three big Deflation drivers: 1) Technology, which creates massive economies of scale, especially in digital products (e.g., Software); 2) Robotics/Automation, which efficiently create more physical goods at lower prices; and 3) Globalization and Labor Arbitrage, which sends work to lower cost regions, making goods and services less expensive. * https://ritholtz.com/2021/02/stop-stressing-about-inflation/ https://ritholtz.com/2021/02/stop-stressing-about-inflation/ A fixed money supply often leads to economic stagnation due to a lack of access to capital: * https://en.wikipedia.org/wiki/Great_Bullion_Famine https://en.wikipedia.org/wiki/Great_Bullion_Famine The stagnation was sometimes only stopped through lucky discovery of gold deposits: > Monetarists believe that the 1873 depression was caused by shortages of gold that undermined the gold standard, and that the 1848 California Gold Rush, 1886 Witwatersrand Gold Rush in South Africa and the 1896–99 Klondike Gold Rush helped alleviate such crises. * https://en.wikipedia.org/wiki/Long_Depression https://en.wikipedia.org/wiki/Long_Depression Do you want economic growth and innovation to be dependent on the amount of shiny rocks we happen to find lying about?