...When they buy gov. bonds with this newly created currency they are swapping something that they can simply print out of thin air and then collecting interest on it...
And BTC is not created "out of thin air"? And please don't start again with the old saw that BTC represents wasted electricity & digital thumb-twiddling.
Not in the same sense that fiat is created, that's correct.
If Bitcoin didn't have a limit of 21 million and was always inflating at some rate determined by a privileged elite, then it would be the same as fiat.
Since it is limited (whether that is ultimately good or bad) at least it's predictable. Credit can still be issued in many forms on top of that, but at least the money supply is relatively scarce.
Even if you think some inflation in the money supply IS beneficial, at least with competing crypto currencies on a free market the people can determine where they want to hold their wealth.
What I can't fucking stand about the these arguments is that we don't really know who's "right" because the people in power have forced their preference on the rest of the world through monopolization of currency issuance. Who gives a shit if BTC is the be all and end all of money. The important thing is that cryptos will get out of the hands of the governments and the market will decide what is best!
. what's funny is those with phd in eco101 in the west don't get it. lol, but they get state dollars and they can fuck your daughters against her grad. they can't trade however, never have, never will.