#Bitcoin, with its fixed supply, seems to be incompatible with a monetary system that is based around elastic supply, correct?
I mean, the two systems(Bitcoin and the Federal Reserve) are so different in principle, it’s hard for me to see how they could play nice together over the long term…
Won’t Bitcoin simply obsolete paper money over time?
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The Federal Reserve Act’s full name is:
“An act to provide for the establishment of Federal Reserve Banks to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.”
- Layered Money, Nik Bhatia
