2/ I think that is overall bad for the economy, so I would like some small amount of inflation to be present (tie it to population growth over the previous week- we can do that now bc we can program money). You believe that the economy will be fine with deflationary currency.
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I don't believe there is anything that will change either of our minds. Do you agree? I think I will be able to understand your viewpoint better if I read "The Ethics of Money Production." /end
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Replying to @ColtonRobtoy @TFTC21
I think both of our minds are changeable. This is a new space and fixed-supply money is a grand monetary experiment. We are all learning and studying still.
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Replying to @MustStopMurad @TFTC21
1/ One thing I think about is we in the US have had the best Standard of Living ever on Earth as result of our 1-3% Inflation monetary system. We had more poverty, diseases, and a lower standard of living when we were on the Gold Standard (fixed-supply money)
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2/ Do u believe the betterment of poverty, diseases, and SoL was a result of switching from fixed-supply currency to low-inflation? (I do) Or that 'technology got better' and that's what allowed us to do better at all 3 of those things, even as we switched money in parallel?
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Replying to @ColtonRobtoy @TFTC21
Technology without a doubt. The economy grew in spite of inflationary money, certainty not because of it.
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Replying to @MustStopMurad @TFTC21
1/ I believe that the switch to inflationary-money (controlled well enough to not have hyperinflation) is what allowed there to be massive investment in technology/businesses/new ideas to create the technology that led to a betterment of the above 3 properties.
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I think the development of those Technologies would have been much slower (maybe not even exist yet) if we had a fixed-money supply I think it's easier to invest in game-changing ideas & tech (for an ROI of course) when u know ur Purchasing Power is going to decrease if u don't
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Replying to @ColtonRobtoy @TFTC21
But money expansion devalues existing holders of currency which I believe is unethical, and only works under a government monopoly on money. If money was chosen organically and voluntarily by the free market, it would very likely be a fixed-supply money, not an inflationary one.
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Replying to @MustStopMurad @TFTC21
>If money was chosen organically by the free market, it would very likely be a fixed-supply money, not an inflationary one. I agree for the time before BTC solved the double-spend problem. That's bc u would always have to trust politicians to not devalue your money 'too much'
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BTC, due to its decentralized and thus hard-to-shut-down nature makes the likelihood of success of a fixed-supply money even higher:)
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