Boom/bust cycles preceded central banks.
Re:Bitcoin miners are buying power plants
by jokethrowaway on Saturday April 17, 2021 @10:27AM
(#26844500)
Sure, but the problem was similar: unbacked money printed by banks and used to prop up the economy.
Re:Bitcoin miners are buying power plants
by arcticbull on Friday April 16, 2021 @03:39PM
(#26838220)
And they were a lot worse when no tools existed to mitigate.
It hasn't been attempted and I think deregulation / decentralization of the economy has good chances of getting rid of boom/bust cycles.
Without a central bank playing with credit you wouldn't have boom / bust cycles: what's more likely is that you'll find smaller players doing boom / bust cycles in different industries with far less damaging effects.
I sympathise with the libertarian ideas behind BTC, but it's also the most inefficient and power hungry way of reaching the goal. This is a political problem and we need to solve it politically, not technically.