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by Nursie
2276 days ago
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The 'fiat' system of floated currencies is able to adapt and change to changing economic circumstances, and be managed to keep the economy ticking over, preventing either the under or over abundance of currency by managing the supply. In contrast cryptocurrency is fixed, static and inflexible, hampers new entrants to the economy in favour of those with established wealth, and would likely lead to the same stunted, constrained economic circumstances we can see from history, worsen crashes, and generally create the same conditions that lead to abandonment of systems like the gold standard in the past. |
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You can't both clamp down on freedom, and then complain when people pick other alternatives.