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ScottMemberMarch 19, 2023 at 22:50
4. USD failure is due to the inability of humans to constrain themselves from drastically expanding the money supply since it is much easier to click a button and create more money than it is to collect it in taxes. If there was a law requiring a balanced budget and fractional reserve banking was eliminated (or at the least that fully reserve banking was not banned) USD would not be in so bad of shape. But these problems are not exclusive to USD. This is a phenomenon that is likely to happen with any easy money situation and there are loads of example throughout history.
5. BTC is not perfect. But it is not competing against perfect ideal monies. It is in my opinion most similar to gold in it’s characteristics. But both gold and BTC have their flaws. Look for the less flawed as there is no flawless money that exists at this time.
- This reply was modified 2 months, 2 weeks ago by Scott.