Has the Federal Reserve always been this powerful and active? Over the past few years, it seems that they have been molding the economy to their will. Are there any detailed retrospectives on this in terms of it being good or not? From my naive perspective, it seems like a lot of meddling, and it isn't clear if such frequent changes are required. If they are required, I suppose that bothers me just as much since it implies a fragile economic system.
> From my naive perspective, it seems like a lot of meddling, and it isn't clear if such frequent changes are required.
This is the result of fiat-based currencies and why Bitcoin is a necessity for the survival of Western civilization.
In the words of Max Keiser: "you can't taper a ponzi scheme."
The inverted exponential distribution of BTC is far far far more unethical and harmful than anything the fed has ever done with respect to monetary policy.
You mean the 100% democratic halving algorithm which allows anyone to participate in the process of verifying transactions and earning Bitcoin?
100% democratic? Satoshi didn't ask me when he chose the halving algorithm. Do you mean democratic in the sense that the miners get votes according to their hash rate and they could tell the core devs to get bent if enough of them got together?
That's not democracy.
"All landowners get a vote according to the amount of land they own. Work for scraps you peasant."
Unethical nonsense.
You can propose changes to the network at any time via a BIP (Bitcoin Improvement Proposal) [1], so sorry, but you're just wrong. Bitcoin is the most ethical form of money that has ever existed.
> "All landowners get a vote according to the amount of land they own. Work for scraps you peasant."
This is an impressive contortion of reality, but nonetheless completely wrong. Your "voting" ability has nothing to do with participation in mining. Your vote is participation in the network, open ability to submit proposals, run a node to bolster the network, and if you wish, run a mining rig to validate blocks and earn Bitcoin. You can also earn Bitcoin from others directly providing products and services.