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506 sats \ 1 reply \ @Atreus 26 Feb \ on: Argentina Cut Spending and Posted a Budget Surplus. Why Can’t America? econ
Argentina has incentive because Argentina doesn't control the dollar supply—the United States does.
The United States doesn't have that incentive. This government can raise or lower the supply of money "at will"—this is a simplification in the sense that they don't just pull a lever or press a button, but it is true nonetheless.
Viz., your questions...
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It doesn't mean anything for Bitcoin adoption because we know a government can stop, raise, or reduce the supply of the money it controls. That's what control means.
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There will always be another crisis, emergency, disaster, calamity, or tragedy to justify more money printing and corresponding devaluation of America's dollar.
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Timeframes are for chumps. 🤷
we know a government can stop, raise, or reduce the supply of the money it controls
i think there are many bitcoiners who don’t believe governments have the capacity to reduce the supply of money for more than a few months at a time.
to me, that’s one way to surprise bitcoiners. if we’re all anticipating hyperinflation and the end of fiat money, sustained austerity may deflate the hopes of bitcoiners and cause us to reconsider bitcoin’s addressable market.
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