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/
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
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.
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/!