Yes, we tried that, but they kept creating new coins out of thin air.
At a rate that is targeting low inflation and is geared to maximize employment. Right now it's de-facto paying for a lot of people not getting evicted who can't work through no fault of their own. Where is the problem?
We can argue all day that monetary policy could be improved- I think money creation should on a constitutional level be guaranteed to take the form of universal basic income- but the form of monetary policy that needed to be baked into Bitcoin for it to grow properly is just insane. Give half the wealth to the early adopters, and let the rest of the world serve them- That's not a vision that you can defend on ethics grounds.
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At a rate that is targeting low inflation and is geared to maximize employment. Right now it's de-facto paying for a lot of people not getting evicted who can't work through no fault of their own. Where is the problem?
We can argue all day that monetary policy could be improved- I think money creation should on a constitutional level be guaranteed to take the form of universal basic income- but the form of monetary policy that needed to be baked into Bitcoin for it to grow properly is just insane. Give half the wealth to the early adopters, and let the rest of the world serve them- That's not a vision that you can defend on ethics grounds.