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Remember: "What we want from a monetary system isn’t to make people holding money rich; we want it to facilitate transactions and make the economy as a whole ri
by tvladeck 14y ago
Remember: "What we want from a monetary system isn’t to make people holding money rich; we want it to facilitate transactions and make the economy as a whole rich." - Paul Krugman
EDIT: To be clear - this quote is not intended (by me) to be a knock on BTC. It's just an elegant statement of my own opinion that the value of 1 BTC is not all that indicative of its value to the economy.
- aneth4 14y agoThat's great for us and the economy. Personally, I'd prefer my money to increase in value. I'm not going to avoid a currency for the benefit of the economy, nor would that be consistent with expected economic behavior.
- leot 14y agoYes, it would be nice for us all to become rich without contributing anything. If you're a Good Person, however, you should be interested in becoming rich by creating real value. And you should be interested in promoting an economic system that encourages people to create value rather than hoard assets. You don't have to be a Good Person, of course. And no one has to like you, either.
- TylerE 14y agoActually you don't, unless you never intend to take out on ounce of debt. Deflation is very bad for the average user.
- chasing 14y agoUnregulated currency seems like a way to do the former, not the latter.
- deleted 14y ago[deleted]