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Heads up. Bitcoin is likely to be forever deflationary until it fails. There are no capital controls to increase the supply which means as people lose their wal
by TACIXAT 9y ago
Heads up. Bitcoin is likely to be forever deflationary until it fails. There are no capital controls to increase the supply which means as people lose their wallets it becomes more and more constrained. I agree that it's a trash fire that will never be adopted as a regular currency, but its value could go up for a very long time like any collectible.
- joosters 9y agoThe number of bitcoins recently doubled as it forked. The 'scarcity' of digital currency is a myth.
- corysama 9y agoThere have been hundreds of forks that went nowhere because no one cared about them. Litecoin did well. Dogecoin was so absurd it surprisingly didn't die on the vine. Bitcoin Cash was a high-visibility fork that was expected to fizzle out. It still is, but it's being propped up by some number of factors. The point is that cryptos' values are based on widespread long term confidence. That is something that can be replicated. But, it's not as easy as hitting [fork this repo] on GitHub. At least 900 fizzled forks have demonstrated that.