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(lemmy.world)
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this post was submitted on 21 Aug 2023
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I'm sure if Bitcoin had the largest and most powerful military in the world it would have become the world reserve currency by now
No because currency with built-in deflation is a bad idea. It would get scrapped very quickly.
Yes sir. Wouldn't want regular folks to be able to retain the value of their savings! Government's restricted to being fiscally responsible instead of printing their way out of problems with the hidden tax on the poor that is inflation? Ridiculous!
Read about the great depression or the deflationary economics in Germany right before the Nazis took power. Deflation sucks, we already experienced it and we don't need to try it out again.
Oof, that's not how economics works.
Inflation is good so long as wages are rising with it. It's killing us right now because wages are stagnating hard right now.
That's a feature not a bug.