The only problem of money is inflation. The ability of one single entity to print money at will, stealing from everybody else without them noticing is one of the greatest con jobs in the history of mankind (and we all know who has the master printer in the world)
Money is a beautiful instrument for trading and free markets, the only way for two entities to peacefully exchange goods. Inflate that money supply and you are silently stealing from the pockets of those who trust that instrument
As much as I hate inflation...there is more to it than just printing money. Because money slowely loses value over time, it incentives investment over hoarding. Bitcoin is a perfect example if this because there is a fixed number of bitcoins. People invest and hold onto bitcoin itself rather than spending it, causing the "value" of a bitcoin to increase. It makes for a poor currency because everyone who bought a pizza for several bitcoins a few years ago is now kicking themselves because they essentially paid tens of thousands of dollars for a pizza...so who would want to spend their bitcoins on something today when it could be worth twice as much in a few months?
Kuyawa · · focus · HN ↗
Money is a beautiful instrument for trading and free markets, the only way for two entities to peacefully exchange goods. Inflate that money supply and you are silently stealing from the pockets of those who trust that instrument
vinyl7 · · focus · HN ↗