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My rule of thumb for money supply:

adjustable, with a benign regulator > fixed > adjustable, with a corrupt regulator

So, the aim shouldn't be a return to the gold standard or a switch to BTC, but to make sure that central banks can do their job without interference from politicians.




To the left of that list I'd put "self-adjusting, without needing a regulator."

Hayek argued that a system of competitive privately-issued currencies would achieve that. I'm not qualified to say whether he was correct, but an economy built on cryptocurrencies would be exactly that.




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