121 sats \ 4 replies \ @newman 4 Oct 2022 \ on: I'm Nik Bhatia, founder of The Bitcoin Layer and author of Layered Money. AMA. bitcoin
milton friedman proposed growing money supply at same rate as the economy. how do you view that monetary policy vs a fixed supply (at 21m)? why is fixed inherently superior? isn't price stability better than inflation or deflation?
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33 sats \ 1 reply \ @bhatiaipc OP 4 Oct 2022
i think this is a very economics-heavy question, so i'll slightly divert my answer. i don't think it matters about current central bank policy being inflationary versus bitcoin being deflationary, because the two will coexist. we will have a choice between the two as people, companies, and countries. both will exist in tandem. the market will determine what is "superior" but even that is the wrong word, in my opinion. is that a fair answer?
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0 sats \ 0 replies \ @newman 4 Oct 2022
yeah guess so. i agree dollars aren't going anywhere. the question is what will be the core reserve store of value. gold was historically, growing at ~2%/year. now it is US dollar, growing at ~6-8% per year....bitcoiners assume 0 growth is the perfect answer over the long run. could be....
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10 sats \ 1 reply \ @ca 4 Oct 2022
You might find this read interesting
https://mises.org/library/less-zero-case-falling-price-level-growing-economy-0
You can download the ebook (.pdf) for free.
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0 sats \ 0 replies \ @newman 4 Oct 2022
thank you - will check it out.
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