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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Now that we can program our money (and solve the double-spend problem), I think people would be happy to have programmed inflation (probably tied to birth rates). Would never need to trust a politician, and they could still have easy access to loans/credit that they enjoy today.
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Replying to @ColtonRobtoy @TFTC21
I respectfully disagree. Why would anyone in their right mind choose an inflationary coin over a fixed supply coin? Fixed-supply is Sound Money. Picking an inflationary coin goes against everyone’s *individual* self-interests. Market would never choose it *naturally*.
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Replying to @MustStopMurad @TFTC21
That's a Great point. It would come down to scalability & ease-of-use. Scalability: Fiat money backed/not backed by Gold always made it faster to price & buy goods with. (compared to weighing gold on a scale) Ease-of-use: Fiat currencies are always easier to carry in our pocket.
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Replying to @ColtonRobtoy @TFTC21
In the last century of the Gold standard people used paper money redeemable for Gold so neither of those was a problem :P
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If you want to see my framework for the most important criteria that will define the monetary SoV winner(s):pic.twitter.com/D64wIANkPR
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