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I'm struggling with this because some people model bitcoin as a currency whose value is based on its transactions and some people value it as a store of value,
by pedrocr 9y ago
I'm struggling with this because some people model bitcoin as a currency whose value is based on its transactions and some people value it as a store of value, a sort of cryptogold. You're arguing the first option but most other are arguing the second. For the second you can't just invent new forms of gold every day so what you suggest wouldn't work. And even for the first having to constantly invent new currencies to get around the fact that each is deflationary seems cumbersome at best. I still haven't found a use case that cryptocurrency makes possible that our current financial system can't already do.
- DennisP 9y agoI'm not so much arguing for it as describing what actually exists now. There are hundreds of separate blockchain cryptocurrencies, plus a bunch of tokens built on top of Ethereum. https://coinmarketcap.com/ https://coinmarketcap.com/ Building a new currency on Ethereum takes about a page of code.