alt Hacker NewsYou're forcing business to produce something valuable in real terms instead of nominal terms and you're making that calculation easier to do for economic actors because the measuring stick is now controlled by an algorithm as opposed to charlatans.
Having less of that garbage fiat short-termism is a good thing for society.
> Having less of that garbage fiat short-termism
Yet having more of endless boom and bust cycles with major economic depressions lasting for years (outcomes of the gold standard was a good idea).
> You're forcing business to produce something valuable in real terms instead of nominal terms
I don't quite understand what does that mean. Pricing goods in oil or grain? (coincidentally either of which would function better as a currency than bitcoin).