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What about forks and alt-coins? Aren't those just "profiligate printing"?
by dullgiulio 9y ago
What about forks and alt-coins? Aren't those just "profiligate printing"?
- rusk 9y agoInteresting point. I wouldn't say profligate since creating a new coin, and getting people to adopt it is far less trivial than printing a bundle of notes. But, I think you're right in pointing out that it is a side-channel through which more money can be "created", but in this case it's not a fiat (government) policy decision.
- dullgiulio 9y agoYes, the point being that it is (generally) easier to control a few government decision makers than exactly everyone who can make a website and start a cryptocurrency first node. There are many international institutions that check such things (IMF, or just the international money markets, etc). Basically everything that the cryptocurrency-libertarians folks keep on ignoring: turns out such problems were basically solved already.
- jaimex2 9y agoOnly if we adopt them, at least we have a say.