Could pumping cryptocurrency money into the economy (via taxes and traditional exchange markets) deflate an economy suffering from inflation?

in #ethics7 years ago

I say pumping cryptocurrency money into the economy could stabilize it. The big IF is ...if everyone pays their taxes to the gov't and holds onto their shares as well as they have (so far) crypto-currencies. Everyone has been making sacrifices financially to some degree, for the last several years, but the hope of social upheaval (dare I say revolution) brought about by the cryptocurrencies is what really drives the crypto market. To become a "have" instead of a "have not", this I think is the reason for a big IF. People don't trust gov't with their money. And they certainly don't trust other people ( cough...corporations). When individual people take back their vote (via money) and use it how they see fit the evil ones always seems to rise to the top eventually. With more personal wealth accumulated we test the capacity of humanity to "hold their shit" and act civilly toward others despite thier perceived wealth, or lack thereof.
The real test of money (as the subset of value exchanged) will be its evolution in an increasingly atheistic society, that is coming into the knowledge of good and evil (an impossible wall to surmount in explaining human worth and existence). The Facebook "like" is the first superficial facade, as far as any atheist can explain the "like" is good but sometimes bad. So, what does that mean for social ethics? There will surely be a trickle-down of traditional ethics throughout history, but the assumption of theoretical personal autonomy in ethics, without middlemen, will test those who have until now had to make very little decisions, esp. in the area of finance. The impact of their spending choices on the world and its workethic.

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Economist Mark Blythe says the the era of hyperinflation in the latter part of the 20th century is unlikely to ever return because the conditions that caused it are gone (unless speaking about Venezuela). Namly closed economies and full employment. Our problem is deflation, because the oligarchs drained the real economy. Cryptos are maybe what can save our civilization from another dark-ages period.

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