Fair, but those countries will be subjects in the experiments around legislation and banking norms. You cannot guarantee a good outcome - you’re trying to circumvent formation of governments and institutions with code. You have no idea if it will work - who will own the outcome?
I think we should let/watch this global free market experiment unfold. I think there will be 1-4 winners used for slightly different things.
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Well of course, we shall see and all that. My understanding is that you’re proposing Bitcoin as currency - somewhere - and there’s still no good arguments for how/why that’ll work.
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Why do you say that?
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How you do you run a modern economy with a rigidly fixed monetary base?
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Why do you think fixed-supply is an issue?
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I don’t have to claim it - history shows us what happens when you cannot provide liquidity.
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Would you mind defining “providing liqudity”? If you mean Central Bank bringing new money into existence at the expense of existing holders, then Austrians lean towards believing that is unethical. If you mean simply lending, then it will be full-reserve vs. fractional-reserve.
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The former and yes I understand the position that it is deemed unethical. What was their solution for liquidity crises (even Hayek admitted the flaws of the gold standard and offered an alternate)? <I’m most definitely not an economist, am interested in furthering understanding>
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