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You’re right. There are no guarantees that sound money would make people productive, it will just force them to be productive because they can’t just live off of a printing press as many do now.

Presumably strong communities and charity would support those who are unable to be self sufficient.

Sovereign Matt 2y ago

I love the Austrian economic school of thought. It’s what made me become a bitcoiner after being a gold bug for years.

I just don’t like the way bitcoin influencer preach that bitcoin is inevitable and if it is inevitable there is no guarantee it will play they way you imagined.

Communism is clearly been historically a massive failure leading famines and mass death of millions just in 1900s. All paved by people believing their intentions were for the best for the collective.

I love the idea of free market capitalism world with perfect information and no barriers to entry where the money cannot be inflated by a monopoly with no middlemen taking a cut via fees.

I believe this is a potential utopian future that may become quickly dystopian if the transition to sound money leaves out billions of people.

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Discussion

techfeudalist 2y ago

I too was a gold bug. I believe bitcoin is inevitable after the world retries a gold backed system and later realizes its fundamental limitations in the internet age.

The future might rhyme with the past. A digital gold standard may have a lot of similarities with the historical gold standard.

The late 1800s in the USA was a highly productive period on the gold standard. Although the period greatly increased standards of living across the country, that historical period could easily appear dystopian to people of today who are dependent on the government or unable to complete in the accelerating technical world.

Inevitably there will be winners and losers and a painful adjustment for many.

Many people are dependent on the government, but the government has nothing that it hasn’t taken with force from someone else.

I think the world moves to a system of numerous small city-states like Singapore or small countries like El Salvador. Large polities like the USA or Europe break up into smaller states and strong local communities develop to help each other.

Sovereign Matt 2y ago

I think world war 3 is forming tbh.

Western world (USA and NATO) vs BRICs.