Libertarians and the libertarian wing of gold and cryptocurrency enthusiasts love to hate central banks and paper money issued by them. They constantly argue that the issuance of paper money that is not backed by gold or some other limited resource leads to inflation and potentially hyperinflation. Probably the most prominent example of this line of argument is the book
That's a problem Bitcoin has, but not necessarily other cryptocurrencies. Scarcity of Bitcoin doesn't explicitly mean we need fiat. It just means we need better designed currencies in general, be it fiat or crypto or whatever other proxy we can come up with.
That's a problem Bitcoin has, but not necessarily other cryptocurrencies. Scarcity of Bitcoin doesn't explicitly mean we need fiat. It just means we need better designed currencies in general, be it fiat or crypto or whatever other proxy we can come up with.
"I, for one, prefer a world of central banks and fiat money where the supply of money can grow in line with the demand for it."
So, you're saying that FED is doing just that?