Re:On anti-crypto toxicity
by tablespoon on Wednesday April 20, 2022 @11:03AM
(#31097966)
> Well on your last point it does. "Money should be inflationary" is a "weird ideological monetary policy idea" it's just one that you agree with?
The idea that money should be stable with mild inflation seems to be the consensus view of the people (in multiple countries!) who actually have responsibility for the economy as a whole, and the economies that have stumbled into deflation don't seem very healthy.
Deflationary money seems to mainly appeal to people who are most concerned about jealously guarding the value of their little private hoard. Bitcoin was likely designed by someone like that who happened to be a talented programmer.
The idea that money should be stable with mild inflation seems to be the consensus view of the people (in multiple countries!) who actually have responsibility for the economy as a whole, and the economies that have stumbled into deflation don't seem very healthy.
Deflationary money seems to mainly appeal to people who are most concerned about jealously guarding the value of their little private hoard. Bitcoin was likely designed by someone like that who happened to be a talented programmer.