Post
Topic
Board Bitcoin Discussion
Re: What if the government of a country is irresponsible?
by
Sheaila
on 29/12/2022, 07:26:25 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?
Wouldn't this be the same idea if the government just printed money for buying their own stuff? Not even necessarily limited to Bitcoin, but rather a lot of other stuff. It'll just end up killing their entire economy. With more prints the more they'd need to spend not just for buying Bitcoin but for more stuff, plus it reduces the idea that the government is incapable, leading to more and more problems down the road. In an extreme case I don't think them being overthrown would be an impossibility.