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A fundamental flaw in many people's understanding of bitcoin's "advantages" is this notion of "not printing money" being a uniquely good idea. Yes, extremely b
by bayesianhorse 13y ago
A fundamental flaw in many people's understanding of bitcoin's "advantages" is this notion of "not printing money" being a uniquely good idea.
Yes, extremely bad monetary policy is worse than having no monetary policy (as in the bitcoin economy). But the case of no monetary policy being better than even a moderately bad monetary policy is much harder to make.
I also don't see why so many people believe that there won't ever be an increase in the money supply from bitcoins. With a growing market capitalization and growing number of businesses dependend on Bitcoin, financial services and products around btc are becoming more common. Virtually no contracts, even in the bitcoin world, are instantaneous, thus investment banking will evolve and distort the idea of a new gold standard.