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Well said. I was also struck by the author's core argument- that Bitcoin will never be stable because nobody can manipulate its value. Seems to me the opposite
by ypeterholmes 9y ago
Well said. I was also struck by the author's core argument- that Bitcoin will never be stable because nobody can manipulate its value. Seems to me the opposite is true; the fact that nobody can directly manipulate supply will provide the type of stability our current fiat currency sorely lacks.
- xapata 9y agoDid you forget the discussion of Bretton Woods? When you can't alter supply, it might be temporarily stable, but you have catastrophic shocks. Calm before the storm, and all that.