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A comment on What Satoshi Did Not Know (2015) [pdf]. Parent comment

Re:What Satoshi Did Not Know (2015) [pdf] by XorNot on Friday September 04, 2020 @10:16PM (#24380881)
And for thousands of years the world languished in poverty. The modern age as we know it with industrialisation and trade started with the Renaissance and boomed with the move away from the gold standard because it meant countries has a way to actually manage their monetary policy against things that mattered.
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Re:What Satoshi Did Not Know (2015) [pdf] by swader999 on Friday September 04, 2020 @10:58PM (#24381052)
The move away from gold is still an ongoing experiment. I wouldn't say it's superior or proven at this point.
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Re:What Satoshi Did Not Know (2015) [pdf] by srtjstjsj on Friday September 04, 2020 @11:03PM (#24381072)
Philisophically or sociologically or ecologically, fiat money may be bad, but economically it's a clear winner.
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Re:What Satoshi Did Not Know (2015) [pdf] by beaner on Saturday September 05, 2020 @11:46AM (#24384407)
The most popular fiat currency, the US dollar, was tied to gold until 1971. It's still not clear that breaking that link was a good move.

Also this: https://wtfhappenedin1971.com/

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Re:What Satoshi Did Not Know (2015) [pdf] by swader999 on Friday September 04, 2020 @11:18PM (#24381173)
It's prone to boom and bust which has been devastating. Hayek describes a type of money that adjusts it's supply to maintain a stable price. Until now this wasn't technically possible. Ampleforth.org is an interesting experiment to introduce a new base reserve with dynamic supply and eventually a stable price. https://m.youtube.com/watch?v=9-uo-KfnkhI
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Re:What Satoshi Did Not Know (2015) [pdf] by XorNot on Saturday September 05, 2020 @03:56AM (#24382054)
Economies boom and bust. This has nothing to do with fiat currency, and is a heck of lot better then the alternative where shopkeepers and employees are made poorer due to economic prosperity because they don't adjust their prices fast enough.
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Re:What Satoshi Did Not Know (2015) [pdf] by capnorange on Saturday September 05, 2020 @01:42AM (#24381621)
or it's non-vc fork - https://based.money/!
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