Quote from: d5000 on August 20, 2021, 11:27:50 PM

1) the liquidity of the Bitcoin markets is high enough that the Bitcoin price itself is relatively stable. This is easier than with gold, because in the case of gold there could be events (discovery of new gold ore) where the supply/demand curve gets out of balance. This cannot happen with Bitcoin; the only possible event is that an early miner like Satoshi could sell his coins all at once, but this danger is limited (once these coins are sold, they're better distributed, and it's likely that the price can re-stabilize fast).

2) there are enough ways to activate the economy without having to recur to the "money printing press" (QE and similar expansive mechanisms). This can be done with alternative currencies (altcoins and traditional alternative currencies, like the Swiss WIR franc), Bitcoin certificates and Bitcoin-based stablecoins as temporary "expansion" means outside of BItcoin itself, or through "direct economic collaboration" which can be facilitated through the internet; i.e. that in low liquidity phases people could directly exchange things and services according to the needs (demand) and the supply. The shortcomings of traditional bartering, which made it inefficient compared with "money-based exchange" can probably be solved with sophisticated platforms.

The second part is the "twist", it is maybe unorthodox because it would in some way expand the "monetary supply", but it would be a condition for the system to work well. It gives the economy always room to grow.

First one makes sense, stable bitcoin is a very important part to actually provide a standard system like gold one. However the second one I am not sure about, the problem with QE and all the other horrible stuff that financial institutions did caused the world to be in such a financial disaster, plus all the horrible people who got sooooo rich that there are millions of poor people as well.

Bitcoin is not like that, it is decentralized and that matters a lot, which is why if bitcoin becomes like a gold standard, I hope that there is nothing that could make altcoins turn into "money printing machine" for the elites, that would basically be the thing that hurts us the most.