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>> It's only with persistent antics of rulers and governments >Alright, tinfoil hat guy, we're done. I need no lessons in Bitcoin from you, I hold them and acti
by brc 13y ago
>> It's only with persistent antics of rulers and governments
>Alright, tinfoil hat guy, we're done. I need no lessons in Bitcoin from you, I hold them and actively trade them, you don't know anything about them I don't already know.
A strange comment. I read a lot on the history of monetary systems and currencies, and I'm yet to come across an instance where widespread inflation (and a severe decline in economic activity and living standards) wasn't caused by a ruler or a government deciding to debase a currency to either fight a war or an attempt to fix mistakes they had already made with public spending. That was true 2,000 years ago, it's been true in most centuries since, and it's certainly true now. It would take a particularly odd view of history to conclude that rulers and governments manipulate currencies to help out their citizens, rather than to appropriate from them.
Note that I am interested in Bitcoin precisely because of this history, because it represents something genuinely new.
- gnaritas 13y agoInflation isn't the devil, severe inflation is; predictable mild inflation is stimulative to an economy. The devil you should be paying more attention to is deflation, even mild deflation makes the economy sluggish. People might like cheaper things, but they don't like lower wages and retailers certainly don't like lowering prices continually. Your comment leads me to believe you confuse money with wealth. If inflation is stealing your savings, you're saving wrong. Cash is not for saving, it's for spending. Save assets, not cash.