Post
Topic
Board Economics
Re: If we can see a country with 'Bitocin standard' monetary system
by
yarlungzangbo
on 27/11/2019, 13:21:50 UTC
Bitcoin will not be issues over the maximum supply ,and nobody can make a 'fake bitcoin'. These country need to save x bitcoin to issue their monet, they will have a healty economics system, the other countries will happy to keep their money and want to trade will them.
People won't be afraid of inflation , and the prices will not going high in a long cycle times.

If its only advantage over the gold standard is greater transparency and resistance to counterfeiting, I don't see how it could work; the reasons why gold standard was abolished had nothing to do with these factors after all.

I know deflation sounds good on paper, but the reality is that it discourages spending, which drives prices down, which drives businesses out of business, which causes economic collapse. It's not something you would want out of your national currency, or at least not in this modern economy. If you want to escape inflation, you can easily diversify with assets like Bitcoin; there's no need to base your national currency around them.

The fact is consumption makeing economic growth is a paradox.The lower price will make more consumption.If you believe in Bitcoin you should know what did Hayek said but not traditional economy knowledge.Our world is full of goverment's lie now