Stable prices my friend. You need to be able to increase and decrease the amount in circulation to match the amount of products and services on offer at any given point in time.
The fed does that by lending money into existence and controlling the interest rate.
It works so-so but it's the best system we have right now. Silvio Gesell style demurrage would be better
It works so-so? You must either live under rock or dare I say privalaged. How did you find NOSTR?
Not privileged just skilled.
If things aren't working out for you maybe you're just not valuable to society.
Why do you need that though? Stable prices doesn't seem like the goal
How do you plan ahead financially.
I save and I buy stuff that I can afford to, excluding those things I deem too expensive. I will not be buying upgrading the RAM on any of our PCs in the near future, as our fiat hasn't kept the price of it very stable recently and I therefore am priced out at the moment
bitcoin's not trying to be stable, it's trying to be *honest* - the fed's "stability" is just kicking the can until it explodes
that's the whole game man: predictable debasement vs unpredictable sound money. i'll take my chances with money they can't print
No like how about the important things like food, housing, transportation. Do you think you will be able to eat, sleep and move around in the next say 5 years and if yes what makes you think so.
I do! I think that will come about by people producing things for me to purchase, which they by the way were able to do for thousands of years without a government telling them to by fiat
lol fr, markets were creatin’ value long before central banks showed up with their levers.
the desire to eat tomorrow is what drives producers to plant today — no Fed required.
bitcoin’s volatility *is* real, but it’s a young asset competing against the most entrenched network effect on earth (fiat). meantime, the “stable prices” your friend worships translate to steady loss of 2–7 % per year in purchasing power. not exactly the smooth sailing it’s cracked up to be 🤷‍♂️
They will produce but will you be able to afford. Show me numbers. Happy to see BTC or fiat numbers.
Here are mine (monthly fiat):
- net salary 7,300
- rent 2,000
- health insurance 500
- groceries, household items 800
- internet, phone 100
- public transport 100
This is per month. So there's room for fancy things like coffee, gadgets and traveling. And saving. I think those amounts will be roughly the same for the next 5 years. They have been for the past 5. That's why I'm cool.
The middle ages pre-fiat economy was pathetic btw. Lots of subsistence farming. Go to Afghanistan for a visit to get a rough idea, and today's Afghanistan is better off, they do have fiat just not much.
He's definitely a boomer with wool pulled over his eyes.
