Post
Topic
Board Economics
Re: Crypto Central Banks
by
Darker45
on 27/06/2021, 03:17:48 UTC
My post is that noone cannot do without classical monetary rules and economic policy in fiat and in crypto economy.

Because we are so comfortably used to the kind of system we are under right now. It seems we cannot imagine a currency which is totally free from state control. The fiat system is designed in such a way that there are a number of control mechanisms allowed. The state and the central bank inflate and deflate the monetary supply, dictate to a certain extent the currency's value, regulate inflation, and so on. It seems all these are necessary and that a fiat system will fail miserably without them. In all fairness, Bitcoin hasn't yet proven that the opposite could work. We have yet to see a country fully run by a Bitcoin-based economy.