So what is YOUR take on nations spending money that the unborn will have to repay?
That is terrible, of course. But replacing a failing currency by a crypto that, if successlul, will make trillionaires of Satoshi & friends is even worse. Where will those trillions come from?
And if the crypto fails, there will be no one to exchange it for euros at a fixed rate. Again trillions will have changed hands, with no relation to work done.
sigh. You still haven't read any books on economics.Might I suggest Economics in One Lesson by Henry Hazlitt for starters and then The Road to Surfdom by (Nobel Laureate) F.A. Hayek.
Satoshi's trillions will come from the same place as Gates, Jobs, Buffet's billions came from:valuation of assets. If any of them attempted to liquidate those assets in bulk, they would plummet in value, which is why they rarely sell. They use those assets as they were intended to be used.
I myself do not plan to cash out more than 20% of my bitcoins, even if the price skyrockets. I intend to SPEND them. Trade makes both partners better off or it doesn't happen. It's win-win, unlike ANYTHING the government does. If the State did anything worthwhile, they wouldn't have to use force or threat of force to achieve compliance.
Nobody forces you to buy or use bitcoin. Those of us who do understand that it is at our own risk. Fiat currencies, OTOH, are compulsory due to legal tender laws. For that reason I oppose any country adopting bitcoin as a national currency. Instead I advocate the repeal of legal tender laws.
There is more relation to work done with bitcoin than any other currency ever. It is documented proof of work that makes a bitcoin a bitcoin. What makes a dollar a dollar? The whim of a central banker.