Comment: LOL

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In reply to comment: Are people really so dense? (see in situ)


Bitcoins have absolutely nothing to do with being a Keynesian. It's the exact opposite if anything gold is more Keysian since you can still have a viable fractional reserve system with gold. With Bitcoin you can't do fractional reserve lending no matter how bad you wanted to. Loans would be 1:1 not 1:10 or 1:whatever as is the case with any other form of monetary system. You have to look at Bitcoin in a different light. Look at it as a monetary system not just as currency. Even with we had gold as currency but had a debt based monetary system with fractional reseve lending we would still be screwed!

The good thing about Bitcoin is that no one can change the Monetary System, no one can make up new rules. Another thing you can't print Bitcoin to infinity the system won't let you even if you wanted to. There will ever only be 21 million Bitcoins ever no more its built in to the system.

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