127. How does Bitcoin solve the problem of excessive currency issuance by the central bank?

Answer: The current Bitcoin system alone cannot completely solve the problem of excessive currency issuance by the central bank. However, a global bubble-free financial system based on the Bitcoin standard can fundamentally solve this problem. “Bubble-free financial system” refers to “creating an international reserve currency that is decoupled from sovereign countries and can maintain long-term currency value stability, thereby avoiding the inherent shortcomings of sovereign credit currencies as reserve currencies. It is the ideal of the reform of the international monetary system” (quoted Zhou Xiaochuan, former governor of the People’s Bank of China). Bitcoin is undoubtedly a reserve currency that is decoupled from sovereign currency. The key is how to maintain the stability of its currency value. The chainless system and DW20 came into being for this purpose. After they are organically combined with the Bitcoin system, they can achieve Bitcoin standards and establish a bubble-free financial system, which provides a realistic solution to the problem of the central bank’s excessive currency issuance.

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