Has any government promised how and why they will maintain their currency. They supposedly claim they help people why screwing up the very same people. Case in point, the 2008 crisis and the various modern monetary based crises.
The people who have assets in cash end up paying for it. That includes the poor who have most of their net worth in cash as they live paycheck to paycheck, and whose purchasing power has been stagnant for decades.
This year was a great example. Mortgage refinancing bonanza. If inflation really takes hold, those debtors will be very happy.
> And that’s not a “rich get richer” kind of thing — the poverty rate fell. And it’s no surprise. Peter Ganong, Pacal Noel, and Joseph Vavra found that under the CARES superdole, “two-thirds of UI eligible workers can receive benefits which exceed lost earnings and one-fifth can receive benefits at least double lost earnings.”
https://www.slowboring.com/p/the-cares-superdole-was-a-huge-...
At that point the mechanism that ensures ledger integrity is the calculation that if the miner tampers with the ledger, that would destroy trust in the coin and hurt the miner in that way.
But 1) that's exactly how conventional currencies work too and 2) it's actually an untested hypothesis. Who knows what would happen in a world where the economy runs on bitcoin and there's some "good reason" to deviate from the protocol.