Re:Cryptonomicon: Among the Bitcoin maximalists
by batrachos on Friday February 25, 2022 @01:08PM
(#30470213)
> free money causing the gradual degradation of food, housing, standard of living, etc. is not without merit.
First, you have to establish that degradation has taken place. Considering that for most of civilizational history, the vast majority of people were wearing rags and eating grain porridge without spice or much salt and living in hovels, that doesn't seem obvious to me. Second, even if you do establish that, you have to specifically tie it to "fiat" currency and not some other factor. Those both seem like a tall order.
First, you have to establish that degradation has taken place. Considering that for most of civilizational history, the vast majority of people were wearing rags and eating grain porridge without spice or much salt and living in hovels, that doesn't seem obvious to me. Second, even if you do establish that, you have to specifically tie it to "fiat" currency and not some other factor. Those both seem like a tall order.