I understand that and I understand your quoting Hayek a few times. Hayek also argued against fiat as I understand it, but offered a basket of (useful?) commodities in the place of gold. Is Bitcoin that? When liquidity demand rises, how does doing more PoW help the real economy?
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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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People somehow think Bitcoin is a problem due to a theoretical lack of liquidity while "inflation problem in cash is not a problem because there are other assets to invest in, like equities." Why when it comes to Bitcoin is the assumption it must be all things to all people?
End of conversation
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