Good money is good for society; bad money the opposite. From Paul Rosenberg at freemansperspective.com:
There’s a common refrain that “Bitcoin fixes this.” Sometimes it’s used well and other times less so, but I’m being very serious when I say that Bitcoin fixes society. And so I’ll explain precisely how Bitcoin is able to do this at the largest scale.
Bitcoin changes the incentives that have distorted the shape of modern society. This is possible because the world’s present incentives have been set mainly with money. By changing the world’s money we also change its incentives, and the world overall. That process may not be fast, easy or pristine, but the principle remains true: Change the incentives, change the world.
So, let’s go to the real-life applications of Bitcoin in large and fundamental societal operations. We’ll start with the most obvious and move on from there.
War
Bitcoin can’t entirely fix war, of course; that won’t happen until humanity itself upgrades. But it will drastically reduce it. Bear in mind (and I’m focusing on the US here) that we haven’t paid for a war since World War II. That war required visible sacrifices: rationing, massive sales of War Bonds and shortages. People had to cooperate in the war effort.
In 1971, however, dollars were cut free of gold and could be printed up in any number with no immediate consequence. All the wars since have been run on credit. Bitcoin does not permit this. You cannot conjure new bitcoins by entering a figure on a ledger, as you can with dollars.
I disagree here.
Bitcoins, dodgicoins,… can be created with any name from infinitely many combinations of alphabets although each name has limited number of “coins” depending on the rules set by respective creator.
We should not fall for a reinvention if tullip mania. Remember that there are also limited number of tullips in the world, limited by their required amounts of nutrients.🤣🤣.