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It seems strange to consider a currency as a viable alternative for other currencies, when a sizeable chunk of the total available sum of it is owned by a singl
by Freak_NL 11y ago
It seems strange to consider a currency as a viable alternative for other currencies, when a sizeable chunk of the total available sum of it is owned by a single person or group simply because they came up with the system, and another large part is in the hands of speculators. There is nothing fair about a currency that is so volatile in value by design and is essentially speculative in nature.
It is sad to see that this side of Bitcoin is not stressed more often.
- CyberDildonics 11y agoYou literally described the US dollar, maybe every currency.
- dragontamer 11y agoActually the US Dollar is inflationary, which means those who hoard US Dollars lose out in the long term. You lose approximately 2% to 3% depending on how well the Fed actually hits its benchmarks. BTC on the other hand is inflationary, due to the (artificial) cap of 21 Million BTC. In any case, inflationary vs deflationary is a moot point. Too much of either side is bad. The important part is price consistency, which everyone can agree is relatively fair. 2% to 3% inflation (loss of value) is much more consistent than anything that BTC has accomplished... with wild swings of 100% to 1000% on some years. ------ I'm intrigued by DOGEcoin, explicitly because it adopts an inflationary model with infinite supply. I think that sort of model is more fair in the long term, and certainly more fun.
- bdhiehihhd 11y agoYeah, people don't hoard us dollars, they hoard T bills and other obfuscated forms of us dollar debt.
- dragontamer 11y agoConsidering that T-Bills have a return of 0.2% right now, that still loses to inflation. IE: If you actually want to make money, you have to go equities or start up a company.