Governments are no better than banks. Both right & left admins want bigger government, just in different ways. They both print money at obscene rates which is cheapening the money you have in your bank account right now.
If cryptocurrency can be a salvation from some of these problems then we should 100% be seeing if it can work.
The era 1870~1910 in the US was deflationary (as was late 19th century sweden), hardly characterizable as a "nightmare", especially compared to the nightmare that immediately preceded it. The world had a brief experiment with deflationary currency and it wasn't all terrible, in fact one of the two major participants went from "failed state" to "global superpower" in that timeframe, even while enduring the economic challenges associated with freeing its slaves.
Deflation is not a bad thing for the end consumer. Our purchasing power should be going up over time as advancements/efficiencies in technology, shipping, healthcare create more for less.
Deflation is "bad" in our current system because we have so much debt that isn't backed by much collateral. Interest rates rise putting a hold on businesses that don't produce much and creates an endless domino effect
Banning Bitcoin because it's used in cybercrime is analogous to banning the Model T because it got used in a bank robbery.
https://www.businesswire.com/news/home/20210331005682/en/Glo...
