Problems with estimating infrastructure costs start at the very beginning, due to the often-complicated process of running cost estimates. The political pressure to keep costs low can result in unrealistic projections. More frequently, the agencies starting new projects, such as roads, train lines or school facilities, fail to account for all the variables in construction. Construction projects are unpredictable even in the best of circumstances — much more so when they involve large-scale excavation or butt up against homes and businesses.
Will this be true on a bitcoin standard?
This is a pretty common sense article. I often wonder if a bitcoin standard will fix this? I don’t think it will. Construction projects face so much risk estimating for costs on a bitcoin standard will be tough. One might think will over time the price of things go down against bitcoin in fiat terms but what about actual energy and labor. Something I often think about.