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Corrupt politicians might inflate the currency and buy votes with newly printed money. Bitcoin prevents that.
by gasull 13y ago
Corrupt politicians might inflate the currency and buy votes with newly printed money. Bitcoin prevents that.
- SilasX 13y agoDon't know why this was voted down: it is indeed a corruption mode Bitcoin can actually prevent, because the money supply growth is declared (way) ahead of time and immune to alterations except by getting the entire network to change the protocol. (Though this doesn't stop technocrat commentators from casually suggesting you could "fix" the supposed deflationary problem by just "tweaking" the growth rate ...) Now, some people will say that money velocity fluctuates freely so this doesn't do anything about price uncertainty, but that's a rather high bar to meet in the first place.