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> goal is to smash central banking Well, if that's the goal, BTC with its high transaction costs/low throughput/high backlog is not going to do it. It would
by jgalt212 9y ago
> goal is to smash central banking
Well, if that's the goal, BTC with its high transaction costs/low throughput/high backlog is not going to do it. It would be some other CCY. The problem with this is that once BTC is no longer "special" than all crytpo currencies are just fiat money and even if you cannot create more than 21MM bitcoins, you can create unlimited crypto currencies. put another way, set membership is fixed, but the number of sets is limitless.
So the biggest risk from a valuation perspective is if BTC starts to seem less "special".
- chatmasta 9y agoI’m of the belief that BitCoin is also effectively unlimited supply, since its minimum denomination can be changed via consensus. The supply is limited to 21mm full “coins” yes, but the precision is configurable according to consensus. Currently it’s 1mm Satoshi per BTC but that can be changed even without a hard fork.