XeqT Monetary Freedom (∞/21M) + (₿+⚡) = 🧡 on Nostr: There are people out there who truly believe that fiat currencies could be backed by ...
There are people out there who truly believe that fiat currencies could be backed by Bitcoin, to make them more "trustworthy" or "harder" or "scarcer".
Backing any currency with BTC does absolutely nothing. It's just theatre.
If you don't believe me, go study the gold standard since the Bretton Woods system until 1971, and see how that worked out.
The idea that backing a currency with a scarce asset will make the currency itself less inflationary or even non-inflationary is absolutely silly.
Backing any currency with BTC does absolutely nothing. It's just theatre.
If you don't believe me, go study the gold standard since the Bretton Woods system until 1971, and see how that worked out.
The idea that backing a currency with a scarce asset will make the currency itself less inflationary or even non-inflationary is absolutely silly.