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There are tons and tons of cryptocurrencies that have infinite emission schedules. Doing that doesn't appear to give any competitive advantage over other curren
by jebeng 11y ago
There are tons and tons of cryptocurrencies that have infinite emission schedules. Doing that doesn't appear to give any competitive advantage over other currencies. I don't know if they've decided yet, but the I wouldn't be surprised at all if the subject of this article(Ethereum) ends up with an infinite emission schedule too. It's very common among cryptocurrencies who use Proof of Stake as their decentralized consensus method of choice.
Plus, Bitcoin isn't deflationary by any standard definition of the word. It's not inherently price deflationary of course, since that's dictated by demand. And the money supply inflates, albeit at a known predictable rate which slowly decreases over time.
- BenoitEssiambre 11y ago>There are tons and tons of cryptocurrencies that have infinite emission schedules. Doing that doesn't appear to give any competitive advantage over other currencies. This supports the hypothesis that cryptocurrencies are not useful as currencies and people mostly like them for their ponzi investment allure. This would make them not viable in the long run, the digital equivalent of gold but with even less intrinsic fallback value.
- jebeng 11y agoPerhaps, but I don't think too many people are seriously arguing that Bitcoin or any other flavour of it is a serious contender to replace regular currency. Either way, there should still be some utility there if it's possible to have a secure, censorship resistant asset that provides some privacy. Maybe we're not quite there yet, but I don't think the idea is going to go away anytime soon.
- api 11y agoCompetitive advantage for the currency's speculators or for its users? The latter I'd say are better served by a currency that encodes a price stability algorithm rather than a hyperdeflationary one. The former on the other hand...