Post
Topic
Board Bitcoin Discussion
Re: What if the government of a country is irresponsible?
by
uneng
on 28/12/2022, 21:20:36 UTC
What if the government of a country is irresponsible and issues a large amount of currency to buy Bitcoin?
No matter what the reason is, inflation is already very serious now. If some unscrupulous governments print a lot of money in order to repay debts and fight inflation, of course it will not be one time. Credit money no longer has credit.
When a chain of interests is formed between big countries, behind the crazy printing of money is the harvesting of countries that are not rich. What would it look like if it were all exchanged for Bitcoin?
Isn't it a good idea? It means governments are killing their own native fiat currencies in order to adopt bitcoin. Then we would have less fiat currencies and more bitcoin usage as currency. Citizens in despair, would immediately exchange all their fiat for bitcoin, following the same decision of their government. A mass exchange of money to bitcoin plus the extinction of weak fiat currencies in the world.

It can look irresponsible, but not more irresponsible than printing money and expecting the economy to be fixed and prosperous following this methodology.