Yes that is true. And the problem with the tribalism of the Bitcoin Maxis is they miss out on such basic monetary concepts.
It is guaranteed to crash things if it went through. There is also the fact that the belief in the Gold Standard myth like that was the only money at the time.
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That’s unfortunate, studying the history of money is opening my eyes to the diverse nature of money and the slow erosion from our currencies origins to where it is now. I think currency isn’t inherently evil, but it has few protections against evil. That diverse history suggests there will be no one coin to rule them and this freedom and it’s safety should be part of each bitcoiner.
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