Post
Topic
Board Speculation
Re: Those who deny that BTC will rise to seven figures: clearly explain yourselves
by
Mike Christ
on 03/09/2013, 08:56:35 UTC
You understand that fiat != inflationary currency, right?  Fiat can also be deflationary, if that's what you want.  Most people don't.


I'd imagine if you walked the street and did a poll asking "Do you want the government to print more money?" Less than 50% would say "Yes"

I fear most people would think that would solve problems. "What? We can just print more money?"

Most people are too ignorant of economics to make an informed decision, and the tiny percentage which are given the power to make a difference know not to bite the hand that feeds.  The best option is to let people figure out on their own whether they prefer an inflationary or deflationary currency, and to allow both to thrive in a market; there's no reason to force everyone to stick to one currency, controlled by government; of course it can never be deflationary, that would take all the power away from government.  It's not that most people don't want a deflationary currency, it's that they're not even aware of the possibility that an alternative exists; you cannot be aware of the box you're in if you've never been outside.  The idea of one currency that everyone must follow or civilization will collapse is entirely based on propaganda, and it's getting tiring.

It doesn't matter whether fiat can be inflationary or deflationary; what matters is the reason why I can't decide which currency my peers and I prefer, and why government needs to issue a currency to begin with; we've already seen a plethora of examples of private currencies being successful, and as with anything which threatens the powers that be, they're always shut down.