Oddbean new post about | logout
 You didn't answer any of my questions and instead proposed contradictory ones in response.

1) Military might that is grown through resource acquisition will inevitably lead to lack of sufficient resources within the domain to sustain that growth. That's also true of species in general without a military driving it's growth.

2) Bitcoin NGU is directly related to fiat currency valuation. Purchasing power grows in fiat terms. On a Bitcoin standard, its NGD.  As long as we have NGU we won't be on a Bitcoin standard.

3) You can make credit available under a Bitcoin standard. Your example is credit available under a fiat standard where people can speculatively attack the dollar via loans, and which is happening today.