• ezchili@iusearchlinux.fyi
    0·
    10 months ago

    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.

    • XMR_loving_AnCap@monero.town
      0·
      10 months ago

      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.

      • AlwaysTheir@lemmy.oneEnglish
        0·
        10 months ago

        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?

        • Dragon-sided D@sciencemastodon.com
          0·
          10 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

        • tusker@monero.town
          0·
          10 months ago

          The violence based fiat scam currencies are the best at devaluing, as the communist state and dirty central bankers steal value annually through massive inflation and continue to bloat, that’s why I’m here.

            • tusker@monero.town
              0·
              10 months ago

              I am not advocating for a currency that keeps increasing in value.

              Monero has a fixed inflation rate which is fair, predictable, and economically sound.

              Fiat currency is a scam that is used by the ruling class to steal value from the public, it can and is inflated at will by criminal psychopaths to fund tyranny and mass murder.

              As we saw with the covid scam, they printed trillions and distributed it to execute the tyrannical fiasco. Also trillions have been wasted on endless war and murder all around the world, all made possible by out of control fraud based inflation.

              The general public should be able to hold a currency and not lose 50% of their purchasing power in 10 years, this is a fraud. Criminal banker controlled fiat is the worst situation possible.

              • ezchili@iusearchlinux.fyi
                0·
                10 months ago

                Monero has an 18.4 million token cap you absolute buffoon, it is deflationary by design and therefore will never be viable as a currency

                https://sethforprivacy.com/posts/dispelling-monero-fud/#monero-has-an-infinite-supply

                The great theory of a capped inflation omits the fact that economical activity creates value over time.

                Your cult is worshipping the same idiocy that helped cause 3 great depressions.

                If it actually was a currency, you would never have an incentive to spend it. It’s always better to spend it tomorrow rather than today if you can afford it, because your cash holds value.

                Something that grows in value over time you don’t call it a currency you call it an asset

                If an asset’s only value is that people believe it has one, and it can be traded, you’re making beanie babies.

                Enjoy being poor.

                • tusker@monero.town
                  0·
                  10 months ago

                  You idiotic moron. Money should become slightly more valuable over time or stay about the same value, like gold. You can buy the same thing with an ounce of gold as 1000 years ago, this is money.

                  The criminal bankers via the communist state are stealing 90% of any value created by economic activity via their inflation scam. You are given crumbs off their table, clown.

                  Any and all “great depressions” occurred once banking was taken over by the jackals that run the central banks today, you fool.

                  Look at the historical trend you idiot, the average family is dirt poor compared to the recent past. You could save up for 5 years and buy a new house in the 70’s.

                  You have been raped by dirty criminal bankers, enjoy being a dupe while defending your masters you coward.

                  • ezchili@iusearchlinux.fyi
                    0·
                    10 months ago

                    Production vs wage gap has fucking nothing to do with what currency you’re using

                    That gap is expressed through two values of a same unit, what does that tell you if you change the unit? You can change the plane all you want, the gap’s still going to be the same. Your two curves are literally labelled in percentages.

                    Take a college economy course

                    Or even google deflation spirals and the death of the gold standard

                    https://web.mit.edu/krugman/www/spiral.html

                • Berg@monero.town
                  0·
                  10 months ago

                  As your link mention, Monero has a tail emission of 0.6 xmr every block. So it is inflationary, but in a predictable fashion. In around 120 years the Monero supply should be doubled. Assuming no changes to emissions that is.