econ

Argentina Cut Spending and Posted a Budget Surplus. Why Can’t America?

> What does it mean for Bitcoin adoption if governments are able to shut off money printing in a matter of months in a similar way to Argentina?

I don't think it means much, unless we see a major global movement following Argentina's lead. It's always been known that governments can stop running deficits (for instance, many US states balance their budgets regularly). The issue is that we know governments are not inclined to behave this way.

If governments were to begin balancing their budgets en masse, it would reduce the rate of btc adoption. There are people who hold bitcoin defensively and that use case would be temporarily undermined.

> Does this change your expected value of Bitcoin?

No, I don't think fiscal responsibility will catch on.

> Does this change your timeframe for Bitcoin adoption?

Only locally for Argentinians