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RE: Hive Subsidized Debt

in LeoFinance2 years ago

We're in complete agreement that pegging HBD to gold is a really bad idea and USD is a much better choice. That's mostly because HBD is debt though, and you want to have your debt in an inflationary asset not a deflationary one.

I was just saying that I don't believe the gold standard caused the great depression, and I believe that stores of value like gold and eventually bitcoin would make the best currencies in a free market system.

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Yeah the whole "Gold Standard created the Great Depression" angle was a pretty flagrant hot take.
But I also believe that intelligent decentralized inflation is doing to become a killer dapp.
That isn't possible to achieve with Bitcoin or Gold.
To me Bitcoin and gold are all about security and robust backups and will take a backseat during the good times.