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The Feds ability to print money out of thin air makes the US dollar equivalent to a pre-mined cryptocurrency, said Shapeshift CEO Erik Voorhees, speaking at Consensus 2020 on May 11.

Referring to the Feds decision to print money in response to the coronavirus shutdown, Voorhees agreed that money printing was the equivalent of a pre-mine in crypto terms. Voorhees said: Its a pre-mine that isnt stated up front in the whitepaper. Its a pre-mine thats ongoing, and no one is clear on how long it will occur, or how big it will be, adding, Its just theft.

Voorhees stated his case for the use of what he terms real money like Bitcoin, and said it could withstand global disasters like the current coronavirus lockdown. Voorhees said:

In a world where people are using real money, it would be one in which viruses could not change the long term relationships of economic actors. In a world where people are using real moneymarket-based moneythe marketplace would be less influenced by governments who are quick to jump into complex systems which they dont understand, and cannot affect as efficiently as they believe, he said.

When it was put to Voorhees that the cryptocurrency space might also contain economic actors who dont fully understand those complex systems, he replied:

Well with Bitcoin it removes the ability of humans to change the monetary policy. And thats good, in the same way we dont have the ability to affect mathematics, we dont have the ability to affect gravity or the changing of the seasons or how the planets orbit the sun, he said.

Removing the ability for humans to exercise arbitrary power seemed to be a theme of Voorhees talk. The CEO said that while vaccines for the coronavirus may be found, no vaccine will stop government intervention into peoples lives.

The virus will go away. What wont go away is the intervention; the habit of intervention. That doesnt recede, that doesnt go away when the vaccine is found, Voorhees said, adding, Im not so concerned about the effects of the virus, but of the effects of government intrusion into peoples lives.

Voorhees said the habit of running to the government for help usually causes more problems than it solves. And he thinks their hold over the apparently pre-mined money supply has to be loosened.

Something as crucial as money that kind of thing should not be within the purview of any small group of people to unilaterally change, he said.

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Erik Voorhees: Bitcoin will replace the Feds 'pre-mined' dollar - Decrypt