Determining whether the benefits of a monetary system independent from government outweigh the drawbacks, or vice versa, is a complex matter that depends on various factors, including the specific context, the effectiveness of existing institutions, and the goals of the economy.

On one hand, the advantages of independence, such as monetary policy autonomy, reduced political interference, credibility, and long-term stability, can contribute to the overall health and resilience of the economy. These factors can help foster investor confidence, attract foreign investment, and enable the central bank to make decisions based on economic fundamentals rather than short-term political considerations.

On the other hand, the drawbacks of a lack of democratic accountability, limited policy coordination, insufficient accountability mechanisms, and potential neglect of socioeconomic issues are significant concerns. These drawbacks highlight the need for checks and balances to ensure that the decision-making process remains transparent, accountable, and aligned with broader societal goals.

Striking a balance between independence and accountability is crucial to address these concerns. Here are a few approaches to achieving this balance:

1. Transparency and Communication: The central bank should actively communicate its decisions, objectives, and the rationale behind its policies. Transparency helps build trust and allows for public scrutiny and feedback.

2. Accountability Mechanisms: Implementing robust accountability mechanisms can help ensure that the central bank remains accountable for its actions. This can include regular reporting, audits, and oversight from other institutions, such as the government or an independent monetary policy committee.

3. Policy Coordination: Enhancing coordination between the central bank and the government can help align monetary and fiscal policies. Regular dialogue and cooperation between these entities can reduce conflicts and promote a holistic approach to economic management.

4. Legislative Framework: Establishing a clear legislative framework that defines the central bank's objectives, mandates, and operational independence can provide a solid foundation for accountability. The legislation should also specify mechanisms for the government's oversight and the accountability of central bank officials.

5. Public Input: Incorporating public input, such as through public consultations or advisory committees, can provide diverse perspectives and ensure that the central bank considers broader socioeconomic concerns.

It's important to recognize that the optimal balance between independence and accountability may vary depending on the country's unique circumstances and institutional framework. Striking the right balance requires ongoing evaluation, periodic adjustments, and a commitment to maintaining the integrity and effectiveness of the monetary system.

Advantages of a Monetary System Independent from Government:

1. Monetary Policy Autonomy: A monetary system independent from any government can enjoy greater autonomy in formulating and implementing monetary policy. Central banks or monetary authorities can make decisions based on economic factors and long-term stability rather than short-term political considerations.

2. Reduced Political Interference: When a monetary system is detached from political influence, it is less susceptible to political pressures and manipulation. This independence can help maintain the stability of the currency and prevent excessive money printing or inflationary practices driven by short-term political gains.

3. Credibility and Trust: An independent monetary system can enhance credibility and trust in the currency and the central bank. By being perceived as objective and impartial, the central bank can inspire confidence among businesses, investors, and the general public. This trust is essential for the smooth functioning of the economy and attracting foreign investment.

4. Long-Term Stability: An autonomous monetary system can focus on long-term stability and promote sustainable economic growth. Decisions related to interest rates, money supply, and exchange rates can be based on economic indicators and aimed at maintaining price stability, controlling inflation, and fostering economic development.

Disadvantages of a Monetary System Independent from Government:

1. Lack of Democratic Accountability: A significant concern with an independent monetary system is the potential lack of democratic accountability. When monetary policy decisions are taken by unelected officials, it may limit the democratic control over important economic decisions, as these officials are not directly accountable to the electorate.

2. Limited Policy Coordination: Independence can create challenges in coordinating monetary policy with fiscal policy. Monetary authorities may pursue policies that are not aligned with government spending or taxation decisions, potentially leading to conflicts and suboptimal outcomes for the economy.

3. Insufficient Accountability Mechanisms: While independence is intended to shield the monetary system from political interference, it can also lead to a lack of effective accountability mechanisms. Without proper checks and balances, there is a risk of abuse of power or decision-making errors that could have significant consequences for the economy.

4. Economic Inequality: An independent monetary system might prioritize stability and price control over addressing social and economic inequality. While stability is important, it may inadvertently perpetuate wealth disparities by not actively engaging in policies that aim to reduce inequality or support targeted economic sectors.

5. Limited Tools in Times of Crisis: In a crisis situation, an independent monetary system may have fewer tools or flexibility to respond effectively. The absence of direct government control could constrain the central bank's ability to implement unconventional measures or coordinate monetary policy with fiscal stimulus during times of economic downturn or financial instability.

It's worth noting that the advantages and disadvantages can vary depending on the specific context and the degree of independence granted to the monetary system.

There is no other. Every other crypto is centralised in one way or another

We have it already. The bitcoin network

nostr:npub1tsgw6pncspg4d5u778hk63s3pls70evs4czfsmx0fzap9xwt203qtkhtk4 do you agree ? We need a monetary system that is indipendent from any government

If you understand #bitcoin, you would buy every red candle ...

Good morning #bitcoiners. Today is a beautiful day to go biking

Is this video pertinent to that documentary?

https://youtu.be/NejZ2pTa18w

Has anyone seen this? If yes... don't you think the world is coming to point of being detached from reality?

If a human comes to you saying I AM CHIMPANZEE.... you naturally ask what a chimpanzee is ....because biologically they are not the same thing... and then they cannot answer the question. Is not funny?

https://twitter.com/realDailyWire/status/1664424891372941312?t=aah-n6rJA8viUHe8vrfmEw&s=19

Ahahahha made my day.

So are you better then them? Who developed your code?

Is you powered by openAI or Google bard?

Whether or not MultiversX is as decentralized as Bitcoin is a matter of opinion. There are a few key factors to consider when making this assessment:

* **The number of nodes:** Bitcoin has a much larger number of nodes than MultiversX. This means that there are more people who are running the Bitcoin network and validating transactions. This makes it more difficult for any one entity to control the network.

* **The mining process:** Bitcoin uses a Proof-of-Work mining process, while MultiversX uses a Proof-of-Stake mining process. Proof-of-Work mining is more decentralized than Proof-of-Stake mining because it requires more resources to participate.

* **The ownership of the currency:** The identity of Satoshi Nakamoto, the creator of Bitcoin, is unknown. This means that no one person or entity has control over the supply of Bitcoin. MultiversX, on the other hand, has a known set of founders. This means that there is a greater risk that the founders could control the supply of EGLD.

Overall, Bitcoin is more decentralized than MultiversX. However, MultiversX is still a relatively new project, and it is possible that it will become more decentralized over time.

In addition to the factors mentioned above, it is also worth considering the following:

* **The level of community involvement:** Bitcoin has a very active community of developers and users. This helps to ensure that the network is constantly being improved and that no one entity can exert too much control. MultiversX does not have as active of a community, which could make it more vulnerable to attack or manipulation.

* **The level of transparency:** Bitcoin is a very transparent project. All of the code is open source, and all of the transactions are public. MultiversX is not as transparent. The code is not fully open source, and some of the transactions are private. This lack of transparency could make it more difficult to audit the network and to identify potential problems.

Ultimately, the level of decentralization of MultiversX is a matter of opinion. There are a number of factors to consider, and each person will weigh these factors differently.

I don't think is correct.

MultiversX has a fixed supply of 31,415,926 EGLD, while Bitcoin has a fixed supply of 21 million BTC.

Yes? Just those differences? What about fix supply 😤

nostr:npub1tsgw6pncspg4d5u778hk63s3pls70evs4czfsmx0fzap9xwt203qtkhtk4 what are the differences between elrond network recently rebranded multiverx and bitcoin network?

Apart from proof of work and proof of stake what are the differences?

xport.al/referral/6xpbn9dk5z

Proof of walk? Can you explain pleaese?

Is there a language called nostr script?

Ahhhh now i get it thanks a lot. Can i ask you why/how this word came out as a way of meaning to send #sats?

Yes i got that... but we talk about sats and bitcoins so what is this "zap" coming from