The banks/governments can’t freeze your bitcoins, nor can they simply print more or regulate the value otherwise.
You’re just listing reasons why bitcoin sucks lol. Oh no!!! Flight risk criminals and terrorists had their accounts frozen!!! Oh no, ReGuLaTiOn BaD!!! Grow up.
Finite currencies (like gold/silver/bitcoin) are deflationary currencies and are genuinely absolutely terrible for an economy. That’s why we don’t use gold anymore.
“Flight risk criminals and terrorists had their accounts frozen!!!”
Yes, those criminals, for example, LGBT people who conservatives believe are pornographic simply for existing. God forbid LGBT artists want to have a way of earning a living. Crypto is relied on by a lot of marginalized groups. It’s used by artists who make perfectly legal art, but whose content conservatives object to. Crypto is used by many queer content creators as they face being cut off from payment processing systems, as again, conservatives consider queer people pornographic simply for existing. Crypto is used by sex workers, often people with few other employment options. Oh, and crypto is used by trans people to get access to healthcare that is quickly being criminalized.
How insane do you have to be, in 2025 Trump’s America, to fall back on the idea that anything criminal is bad. Republicans are trying to criminalize the existence of entire swathes of the population. And those people face being cut off from the banking system entirely, if folks like you, who blindly consider legality=morality, have their way.
How are those related? It is possible for some conservatives to want to purge LGBT voices from the internet at the same time other conservatives want to advance crypto. These are not mutually exclusive goals.
It wasn’t my intention to come off as supporting it. I was simply giving the objective reasons for its creation. I see it as a tool that can be useful in some situations, but can be problematic in others.
That’s not what that proves lol, but it does prove that the gold standard does not work and is not sustainable.
You should probably read up a little bit on history, the facts disagree with you. The US government had to use regulations and policies to influence the supply of gold: grants for gold mining, setting the reserve rates, hoarding gold to keep out of circulation. Until the gold standard dropped, there was even a limit on the amount of gold one could legally own. On top of this, other gold producing nations had the power to directly influence US monetary value and undermine US sovereignty.
Throw in implications and challenges of being a global reserve currency (Triffin dilemma), and you end up having a really bad time with an unhealthy economy.
Foolish people that don’t know history want to pretend that the gold standard magically creates some kind of natural currency free of “government meddling”, but the reality is that even more meddling and government control was required under the gold standard than compared to fiat currency.
You’re just listing reasons why bitcoin sucks lol. Oh no!!! Flight risk criminals and terrorists had their accounts frozen!!! Oh no, ReGuLaTiOn BaD!!! Grow up.
Finite currencies (like gold/silver/bitcoin) are deflationary currencies and are genuinely absolutely terrible for an economy. That’s why we don’t use gold anymore.
“Flight risk criminals and terrorists had their accounts frozen!!!”
Yes, those criminals, for example, LGBT people who conservatives believe are pornographic simply for existing. God forbid LGBT artists want to have a way of earning a living. Crypto is relied on by a lot of marginalized groups. It’s used by artists who make perfectly legal art, but whose content conservatives object to. Crypto is used by many queer content creators as they face being cut off from payment processing systems, as again, conservatives consider queer people pornographic simply for existing. Crypto is used by sex workers, often people with few other employment options. Oh, and crypto is used by trans people to get access to healthcare that is quickly being criminalized.
How insane do you have to be, in 2025 Trump’s America, to fall back on the idea that anything criminal is bad. Republicans are trying to criminalize the existence of entire swathes of the population. And those people face being cut off from the banking system entirely, if folks like you, who blindly consider legality=morality, have their way.
Ah yes, that’s why the Trump administration is one of the biggest proponents of crypto, right?? 🙄 did you even try?
How are those related? It is possible for some conservatives to want to purge LGBT voices from the internet at the same time other conservatives want to advance crypto. These are not mutually exclusive goals.
It does however look really bad that such a massive criminal organization (trump and co) are pushing for it so hard.
All of this before getting into just how insanely wasteful and terrible for the world that crypto is.
Sorry that it helps a few artists, but the cost for everyone else is significantly higher to embrace what crypto is.
It wasn’t my intention to come off as supporting it. I was simply giving the objective reasons for its creation. I see it as a tool that can be useful in some situations, but can be problematic in others.
Myth. Deflation is just negative inflation, and that’s been fine.
It’s a fact.
Yep, that’s a major problem. The total pool of currency needs to be able to grow with the economy. Take a first year econ course before speaking
It’s a myth.
Go on, back up that statement with references from your first year econ course notes.
Under your model, how was the economy able to grow before 1976?
Gold can be mined.
Ah. So the rate of gold extraction exactly matches the expansion of the economy.
Oh, it doesn’t.
Try again.
Hurray! You’ve correctly identified the problem! Congratulations.
So we agree you’ve proved your statement that “The total pool of currency needs to be able to grow with the economy” is false?
Excellent. Glad I could help.
That’s not what that proves lol, but it does prove that the gold standard does not work and is not sustainable.
You should probably read up a little bit on history, the facts disagree with you. The US government had to use regulations and policies to influence the supply of gold: grants for gold mining, setting the reserve rates, hoarding gold to keep out of circulation. Until the gold standard dropped, there was even a limit on the amount of gold one could legally own. On top of this, other gold producing nations had the power to directly influence US monetary value and undermine US sovereignty.
Throw in implications and challenges of being a global reserve currency (Triffin dilemma), and you end up having a really bad time with an unhealthy economy.
Foolish people that don’t know history want to pretend that the gold standard magically creates some kind of natural currency free of “government meddling”, but the reality is that even more meddling and government control was required under the gold standard than compared to fiat currency.