10 sats \ 7 replies \ @Undisciplined 5 Jan \ on: Imagine Bitcoin as THE monetary medium... Ask_SN
I'll check back in after people have a chance to weigh in, but a good place to start would be problems that have popped up since abandoning the gold standard. In particular, look at the reasons governments have abandoned gold standards in the past.
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I like this one:
Much like the Articles of Confederation, sound money was working too well for the elites to allow it to continue.
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working too well for the elites to allow it to continue
That was really poor wording on my part. I meant that the elites put an end to sound money because it was benefiting everyone else. Hopefully, that's how you read it.
Many of the historical reasons for abandoning the gold standard had to do with funding wars. At a glance, I would also say that's something that has increased since America went off the gold standard.
I doubt Bitcoin ends all war, but sound money is not something war mongers like very much.
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