Excellent article:https://twitter.com/arjun_jayadev/status/948779484131475456 …
"It is easy to see why [the gold standard] failed: ask yourself how much money the economy needs. Limiting money to a finite stock is the most arbitrary form of central planning, deciding in advance and for all time the liquidity needs of a complex, evolving economy."
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"unless banking itself were banned in a bitcoin world, we would soon get a bitcoin credit system with bitcoins acting as a gold-like, inflexible outside asset atop which credit claims are built. Bitcoin exchanges already functioning as such. "
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