USD is not a great SoV. -3% loss per year disincentivizes saving and capital accumulation and encourages over-consumption and high time-preference. This is the entire point of Bitcoin...
-
-
Deflation desincintivizes capital accumulation more than an easy to hedge 2-3% yearly inflation rate. Unless of course the only asset one accumulates is the currency.
-
Or you can just have a sound form of money that isn’t at the whims of the government inflation/taxation theft machine. Deflation is not inherently bad, that is a Keynesian myth. What % of inflation is due to organic growth and what % is due to excess money creation?
-
Whims of governments? Nations are organized around governments for the sake of security, stability & prosperity. The Rule of Law requires a government. Many things are at the whims of governments for a reason. We want monetary policy at the whims of governments.
-
You call taxation theft. Hence you very likely are against governments in general. If so, your position is extreme and not reconcilable with that of the majority of people. Consider moving to DRC, see how you like living in a place where the Rule of Law is not enforced.
-
BTW rigid monetary systems, such as the gold standard and USD pegs, when in place in anything but tiniest of countries, are bad for growth and usually end in disaster. Bitcoin as national currency, with its fixed monetary supply, would be disastrous for most countries.
-
Tweet unavailable
-
Once again, LOL. Can't discuss with fanatics, just laugh. The Fed is independent from government and has no elected politicians, remember? BTW creating cryptos is easier than creating USD. I objectively analyze both sides of every coin. You are an extremist.
-
Fiat currencies are forced upon you via “legal tender laws” and “tax levies”. This is a form of coercion and violence. Before CCs, you had no alternative. Now CCs are offering an alternative.
- 5 more replies
New conversation -
-
-
You have time deposits, money markets, stocks and bonds to avoid that 2-3%. The 2-3% was chosen by economists for a reason. It's a small price to pay to promote growth, avoid liquidity traps and avoid deflation.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.