JA8 Posted April 12, 2020 Share Posted April 12, 2020 (edited) On 4/9/2020 at 5:57 PM, MistaPrime said: If we had Bitcoin or XRP or any crypto being the world's currency. Then what can we do in case of a pandemic where people need extra money to survive since the economy is halted? We certainly can't just print more like the Feds do. Hopefully, we do nothing. If businesses can't survive the pandemic, then that's very unfortunate... but that's capitalism. If we intervene to prop up markets we just end up creating an ever-more indebted zombie economy. Without the endless money printing we've seen over the past decade, businesses would not have been able to spend themselves into a corner, nor expand to an unrealistic size based on fake demand from currency inflation. If we hadn't taken that unfortunate path, then today there would be healthier businesses with better job security and better job prospects. These would be serving real needs within the market... and with proportionally stronger balance sheets they would be better equipped to handle the events we're seeing unfold now. A Crypto-based monetary system could have mitigated a lot of the economic carnage we're now unfortunately guaranteed to see over the coming decade. Edited April 12, 2020 by JA8 WillGetThere 1 Link to comment Share on other sites More sharing options...
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