[flamble]

How common is it for the central banks of currency sovereigns to indulge in massive quantitative easing? If anything, they're far too reluctant to do so (even during recessions) precisely because of the kind of superstition on display here that money shouldn't consist of just a "magic number" - as if Bitcoin were any less of a token.

[Closi]

Apparently when a government when a government adds money based on economic analysis it’s BAD, but when an algorithm generates new magic bitcoins at an arbitrary rate set by satoshi every 10 minutes that halves every so often it’s REVOLUTIONARY.

[madacol]

What guarantees to you that governments add money based on economic analysis?, but most important, what makes you think that decisions made are aligned with your values?

Venezuela is the living proof of a government that makes decisions with the only objective of keeping power, WHATEVER IT TAKES, even if it means to the reduce quality of live to a 10% in less than a decade.

So bitcoin, and many cryptocurrencies, are at least neutral in monetary emission. Yes, it's not based on economic analysis, therefore is sub-optimal, but equally predictable by every actor, full transparent, no possibility of inside information or conflicts of interest.

[flamble]

Venezuela is an excellent example of a government unable to issue money arbitrarily, because they pegged their currency to the US dollar and accumulated debt in a currency over which they had no control.

[madacol]

AFAIK Venezuela has never pegged the bolivar to the US dollar. But the government did issue bonds in US dollars, I suppose those are the debts that you are talking about

[imtringued]

I wish people who complained about governments adding money at least understood why they should be angry. Instead, they are just angry because they want to be angry at something.