Does it really matter who Bitcoin's creators are? Their agenda is quite clear, anyway. It puzzles me that people give Satoshi Nakamoto's real identity so much importance yet they seem to take for granted their economic views even though those same views are seen as very controversial by what seems like a sizable chunk of today's economists.
It is portrayed again in this blog post: "As many inflationary and hyperinflationary episodes during the 20th century demonstrated, this is not an ideal state of affairs."
As somebody who likes Bitcoin as an idea yet is economically illiterate, I find myself in a pickle. I would like to know the truth but apparently even history itself is contested when it comes to economics.
I believe the idea is that both dollars and bitcoin are valued due to the collective trust of their user base. However, only the dollar is easily susceptible from the Fed which has the power to dilute the value of the money held by the dollar's user base.
Personally I don't know if the argument holds in reality. For example the dollar has also ulterior valuable properties, namely that businesses are mandated by the state to accept it, meaning that you can buy everything with dollars in the US. And Bitcoin is currently very easily influenced by the core developers and the big mining pools as well as anyone with a sizable amount of cash.
It is portrayed again in this blog post: "As many inflationary and hyperinflationary episodes during the 20th century demonstrated, this is not an ideal state of affairs."
As somebody who likes Bitcoin as an idea yet is economically illiterate, I find myself in a pickle. I would like to know the truth but apparently even history itself is contested when it comes to economics.