42 sats \ 2 replies \ @028559d218 OP 21 Oct \ parent \ on: Minneapolis Fed's paper on banning Bitcoin to maintain "permanent deficits" bitcoin
i read through most of the ECB paper. it was really salty and said 'hey maybe it goes up forever after all' and we 'the authors' don't like it.
this paper is advocating out loud for an outright ban in order to perpetuate 'infinite deficits' because their models break if bitcoin has 'positive price'. incredible
I'm curious as to what makes Bitcoin so special for their models. Why wasn't gold their boogie man?
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Above my pay-grade.
I don't know.
My guesses - the price of gold has been manipulated?
Bitcoin is digital and far more easily moved, bought, and sold?
And Bitcoin is practical for the great use-case... as 'money' especially in the form of micropayments and internet-native 402 payments.
Purchase everything online and pay for everything online, found countless businesses based in cyberspace and pay everything in Bitcoin - I think that is a very real future and the central banks of the world don't particularly like it.
The volatility aside, why would anyone want to earn paper money, when they can earn Bitcoin instead especially now that they can practically use it for micropayments and pay daily expenses
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