Nobody would stand for 6% of their house being confiscated by the government every year. Yet we somehow think it's okay with dollars because it's done via monetary expansion.
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To be fair we had much higher monetary expansion in Bitcoin. Expansion only becomes a problem if it is in excess of demand. Demand for USD is still strong.
A big part of that demand is based on the expectation that that increase will taper and then end. Fiat has no such predictable schedule, nor any such limit.
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For comparison, Bitcoin’s future monetary expansion in %pic.twitter.com/ZckSvAOcQp
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perhaps predictabilty (certainty) is more important then absolute numbers. Imagine what it could do to a currency if ECB or FED commited to having the exact same monetary policy for the next 50years, instead of changing their minds every month.
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Yes, certainty is more important than what the policy is. Satoshi could have picked a different schedule with very likely same success. It is in contrast predictable that commitments will be broken by central banks.
End of conversation
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