Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin better than Fiat?
by
witcher_sense
on 30/08/2021, 13:48:00 UTC
Fiat is still more better than bitcoin with the following reasons:

2) control by the government: Fiat money is control by the government. Government know when to make it pump or dump because they have the power to do that in the country.


How can it be considered a positive attribute? Bitcoin wouldn't have been created had governments not failed at controlling fiat. The main point is when they try to manage the economy, their decisions always distort the reality of the market. Being central planners, they have no idea what actually happens between individuals and businesses. They cannot know which products to produce, in what quantities, and when these should be produced. Everything is broken because the units with which to count the value of goods are constantly changing. Bitcoin has solved this problem - it has a non-inflatable number of units over which no one has control. No one would distort the prices on the bitcoin market because they would be determined not by a single planner, but by all participants making independent decisions.