5 ms·
Again, no. Satoshi can dump once, the fed inflates USD year after year at whatever rate they like. This is not the same power. Look at Venezuela; Satoshi can't
by blotter_paper 8y ago
Again, no. Satoshi can dump once, the fed inflates USD year after year at whatever rate they like. This is not the same power. Look at Venezuela; Satoshi can't do that. He can dump ~6% of current supply once (assuming high estimates of his holdings are correct), the IMF is estimating Venezuela's inflation at above 1,000,000% in 2018. That's totally different. This is the craziest modern example, of course, but USD could do the same at the whim of the fed (and they did increase supply by 2.44% last year, non-hypothetically). Satoshi holds no such power by any stretch of the imagination. There are legitimate criticisms of Bitcoin for you to make, but this isn't one of them. The supply is fixed. There is no "for all intents and purposes" disclaimer that can make your statement correct. This is basic economics, if you don't believe me find an economist to pick the brain of. They probably won't like Bitcoin, but they certainly won't argue that Satoshi is analogous to the fed.