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[–] [email protected] -5 points 9 months ago (29 children)

Useful currencies are supposed to devalue in time. Crypto not being inflationary stifles its calling and appeals to weirdos like you guys who are all in all just doing virtual collecting of beanie babies.

[–] [email protected] 0 points 9 months ago (28 children)

I don't think you know what features are needed for sound money. You might want to read about austrian economics to get a better understanding of this.

[–] [email protected] -3 points 9 months ago (26 children)

Austrian economists argue that a stable money supply promotes economic stability and allows for rational price signals. It proposes that for money to be stable it needs to be tied to one or more tangible commodities. So all current crypto should be avoided according to Austrian economics. Which makes me wonder, as an Austrian Econ fan, why are you here?

[–] [email protected] 4 points 9 months ago

@AlwaysTheir @XmrLovingAncap I do not have a degree in Economics. I used to self-describe as an Austrian. I heard and read a lot about it.

However, I have had to note, ~3 years, we had:
a) stay-at-home + money printing
b) war in Europe + supply chain insanity
which led to
c) big inflation
... which Austrians all predicted would happen.
BUT WE ALSO HAD:
d) the inflation fall back to ~2%
e) the economy surge forward

At this point, "Austrians" need to explain why their theory fails so hard, Sry

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