Post
Topic
Board Economics
Re: Do Not Blame Bitcoin, No Government Want To Make Its Citizen Millionaire
by
Coolcryptovator
on 18/01/2020, 07:24:20 UTC
When dollars and other currencies are free to be printed and their value will not be reduced even if they are printed a lot more, then which ant is enforcing and stopping the governments to force their employees to work in a low budget?
Most likely you don't have enough knowledge about economy. A country is free to print lots of money, but have you thought what will happen after that? There is some rules regulation with central bank how much money they should print to keep stable their economy system. They decide it based on so many things especially GDP (Gross Domestic Product). For example you are getting now $10 per hour for your job and you are paying your children's school fee $25 monthly. Imagine if government print more money and they give you $100 per hours then you have to pay your children's school fee $250 monthly. Am I right? Because salary will be increased for all citizens, not only for you. For example you have take a bag of money when you are going to shopping Korea. So what's benefit by printing lots of money? You should read an article Printing Money – Can a Country print Money and get Rich?.

If these governments want to make their people rich, they could increase their wages to upto 10 times, around $100/per hour. When wages will be high, more amount of money could be invested in Crypto.
I will refer again above, it will happen same for crypto-currency as well. If bitcoin price 10000 now on your local country when your wages is 10$ per hours. So it will be 100000 in your local country when your salary will be increased to $100, because I told you before if this happen government will increased wage for all over citizens. So this idea couldn't work.