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I agree but how do you know? The greenbacks disaster caused the great depression.

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how many times you can divide a number? there's no limit. it's not like you have to physically issue a half-penny coin or, or physically split some object to solve this.

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Jose Sammut 1y ago

READ WHAT I'M SAYING YOU INBRED!

REDUCING MONEY SUPPLIES HAVE KILLED ECONOMIES EVERY TIME!

I DON'T CARE ABOUT HALF PENNIES THAT WASN'T THE PROBLEM.

Jose Sammut 1y ago

The Gold Standard was generally prosperous. Civilisations that adhered to it faired far better than civilisations that didn't. Civilisations that drifted away from it would see things get worse. So I am led to believe that a Bitcoin Standard, with a fixed monetary supply, would carry forward many of the same benefits that the Gold Standard had done in the past.

However, reverting BACK to the gold standard has been very difficult, every. single. time.

Would coins being taken out of circulation, reducing the money supply, put us in the same deflationary spiral scenarios?

I don't believe so. The pain felt in the Long Depression of the 1870s and of the Great Depression of the 1930s were in my opinion the result of government austerity to pay back debt, stifling demand. Natural reductions in the money supply (eg lost coins) don't harm active economic players like taxation does (only harms those whose coins have been lost).