John Griswold
1 min readApr 3, 2023

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This is exactly what I said. If there is no need for currency to be "backed" by anything then why are you talking about cheap oil supporting fiat currencies?

Debt is not INTENDED to be paid off, it is literally the currency, circulating out into the economy and back to the Fed/Treasury. If you will notice, the national debt is closely equivalent to the money supply.

The lightening Network is another kludge, inefficiently trying to supplant the established payment system used by nearly all banks and businesses, none of whom want to bother with building a peer to peer network to make Lightening payments possible on some sort of limited scale when they already have an established, secure, and insured system in place.

Deflationary money is ANYTHING but sound, discouraging commerce and encouraging hoarding... exactly what has happened to BTC, turning it into a speculatory commodity instead of the currency that it was intended to be.

Adding a layer of functionality by grafting on a Lightening Network type system just increases unregulated complexity, all in the hope that for some unknown reason the commercial world and consumers will decide to go to the trouble to adopt it. I don' see that happening now or in the future...the Lightening Network seems to be the currency equivalent to fusion energy, always 25 years away;)

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John Griswold
John Griswold

Written by John Griswold

Master carpenter, watercolor artist and beat up old jock…owned by Black Lab Bo who considers two tennis balls a minimum mouthful

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