> Ultimately, printing money doesn't make anyone more productive or produce anything. All it does is redistribute wealth from those that were first to get the new free money away from those that were last to contact it.
This is not totally true.
The ability to print money enables redistribution without taxes.
Bank loans and credit would not be nearly what is is today without all of the various methods that the government allows to borrow debt on debt.
Those loans and credit help start companies and build houses.
Cryptocurrencies won’t change how things need to work to avoid economic collapse, because those that understand how things work won’t change.
> Cryptocurrencies won’t change how things need to work to avoid economic collapse
cryptos won't be able to be loaned as easily, since it's hard to create more cryptos on demand. So if there's a surge in demand for loans, the price of loans (aka, interest rate) will surge. Under a fiat system, the state/central banking authorities can simply make more credit available to satisfy those loans, and thus keeping interest rate stable in the face of huge demand.
This is not totally true.
The ability to print money enables redistribution without taxes.
Bank loans and credit would not be nearly what is is today without all of the various methods that the government allows to borrow debt on debt.
Those loans and credit help start companies and build houses.
Cryptocurrencies won’t change how things need to work to avoid economic collapse, because those that understand how things work won’t change.