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This is the billion-dollar question: Will digital alchemists succeed where their medieval ancestors failed? Or will you be holding digital Beanie Babies somewhe
by Finnucane 9y ago
This is the billion-dollar question: Will digital alchemists succeed where their medieval ancestors failed? Or will you be holding digital Beanie Babies somewhere down the line?
- SirFatty 9y ago"Or will you be holding digital Beanie Babies somewhere down the line?" Thanks for the chuckle... good way to start off the day!
- Finnucane 9y agoSlightly more seriously, it's still not even clear if cryptocurrencies are really functioning as investable assets--thing you buy and hold for appreciation--or actual money--the unit of accounting for economic activity. It will be hard to be both. During the gold-standard era, this was achieved by government price controls on gold. That's basically what the 'standard' was, a price control. And it turns out in practice, this is hard to maintain, which is why it eventually failed.