Keystroke on Nostr: The first assumption is not necessary. Money printing always dilutes the value of the ...
The first assumption is not necessary.
Money printing always dilutes the value of the money that is already in existence. It does not matter what the CPI says. Even if CPI is negative and we experience an overall price decrease, printing money is still diluting the value of the existing money. Preventing an even more pronounced price decrease.
z_cress (npub1n6g…watk) does not make the second assumption at all. He's just saying that money printing is stealing. Arguing "but what if I sometimes benefit from being stolen from" is not arguing against that fact that you are being stolen from. It just says you like to be stolen from by the government, because you think they make better use of your money than you can yourself. That's a personal choice. And btw. inflation comes on top of the already existing taxes.
Your comparison with the egg producer is nonsensical. Luckily it highlights the importance of bitcoin though.
The egg producer can charge whatever he wants. If he charges more than his competition, I'll buy at the competition and he'll change his mind or goes broke.
There is no competition in FIAT Money though. The government forces you to use their currency. If you don't, you go to jail. That is why bitcoin is important as competition to keep them honest.
Should they, like the egg producer ramp up the money supply by 50%, I have the option to use the competing currency called bitcoin instead of being fucked over by their decision.
Money printing always dilutes the value of the money that is already in existence. It does not matter what the CPI says. Even if CPI is negative and we experience an overall price decrease, printing money is still diluting the value of the existing money. Preventing an even more pronounced price decrease.
z_cress (npub1n6g…watk) does not make the second assumption at all. He's just saying that money printing is stealing. Arguing "but what if I sometimes benefit from being stolen from" is not arguing against that fact that you are being stolen from. It just says you like to be stolen from by the government, because you think they make better use of your money than you can yourself. That's a personal choice. And btw. inflation comes on top of the already existing taxes.
Your comparison with the egg producer is nonsensical. Luckily it highlights the importance of bitcoin though.
The egg producer can charge whatever he wants. If he charges more than his competition, I'll buy at the competition and he'll change his mind or goes broke.
There is no competition in FIAT Money though. The government forces you to use their currency. If you don't, you go to jail. That is why bitcoin is important as competition to keep them honest.
Should they, like the egg producer ramp up the money supply by 50%, I have the option to use the competing currency called bitcoin instead of being fucked over by their decision.