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It is by definition deflationary due to its restricted supply. This would not be so much of a problem at the moment, if it wasn't for the fact that people start
by osrec 8y ago
It is by definition deflationary due to its restricted supply. This would not be so much of a problem at the moment, if it wasn't for the fact that people started treating it as an asset in its own right, rather than an experimental medium of exchange. Most people have lost sight of the fact that it is the first iteration of a series of experiments to create a decentralised mechanism of value transfer. It wasn't going to be right the first time round.
Sometimes I feel that criticising Bitcoin for it's failures is like criticising Edison based on his first attempt at inventing the light bulb!
- forgotmypw 8y agoI think of Bit<oin as the MS-DOS of e1e<troni< <urren<ies.
- sudomake 8y agoMS-DOS was successful. Perhaps CPM is a better choice?
- topranks 8y agoWell CPM wasn’t a failure because MS-DOS was better technically. It was more down to other factors like IBM selling it for a much lower price than CPM for the IBM-PC. So to the original comment I think the poster means it’s like MS-DOS, but Windows or some such will come next and bring it to the mainstream.
- forgotmypw 8y agoBit<oin is a1so su<<essfu1. And a few years 1ater, we're 1eft wondering how we managed with 8.3 fi1enames.