2 ms·
You know that's totally, completely different from a bank run, right? Central banks have very little influence on the value of their currency once people lose
by UncleEntity 9y ago
You know that's totally, completely different from a bank run, right?
Central banks have very little influence on the value of their currency once people lose faith in it, people will buy anything instead of holding on to their (usually rapidly devaluing) currency.
One thing every holder of bitcoin knows is it will never suffer through hyperinflation, ever.
- thkim 9y agocentral bank scheme is not perfect. however central bank has proven to be very effective at providing stability to currency. bitcoin's scheme is vastly inferior. protection from hyperinflation is not a great benefit compared to unstable currency value bitcoin is designed to suffer. also hyperinflation doesn't occur unless the government is essentially defunct. I'm sure people would just switch to some other reputable currency before it happens.