Why Bitcoin Could Be Banned or Criminalized in the Coming Years
&gt; I bring this up to remind you of the government we are dealing with, and the actions they take when times are excessively difficult.<p>They are referring to an action take in 1933.  Almost everyone involved in that decision is dead, from the voters to the president is dead.<p>&gt; The Fed aims for inflation to try to reduce the debts of the government.<p>The Fed aims to keep the economy at full employment and inflation stable.<p>&gt; the Fed however, has had great difficulty in stimulating economic inflation in recent years, in large part due to the naturally deflationary effects of technology and automation.<p>The Fed has had problems stimulating inflation and growth recently recently.  This has nothing to do with technology and automation and everything to do with interest rates being so very low.  (which is caused by a global savings glut, and an aging population)  Also we had no problem with deflation in the 70&#x27;s even though we were also automating jobs and advancing technology.<p>&gt; Now that you understand your part in the economy from the perspective of central banks and economists.<p>This isn&#x27;t even a strawman.  This makes me thing that he&#x27;s never actually read a mainstream economists.  And that his only experience with mainstream economics, is other people ranting about mainstream economics.<p>But the biggest critique of all, is that even if his &quot;theories&quot; (which are all a somewhere between wrong and a stretch) are correct the conclusion doesn&#x27;t follow.  Imagine we&#x27;re in a depression and a large chunk of the populace prefers bitcoins to dollars.  This will cause them to spend dollars, keeping people from hoarding dollars, and keeping the velocity up.  This only really becomes and issue if salaries become denominated in bitcoin.  And there are a lot of reasons you don&#x27;t want to pay someone a bitcoin salary, and a lot of reasons you don&#x27;t want to be paid a bitcoin salary.  With one of the biggest being the tax implications.