>If Bitcoin were actually useful, someone would have figured it out by now, and it would be widely adopted. Diffuse benefits, concentrated costs, and a set of

>If Bitcoin were actually useful, someone would have figured it out by now, and it would be widely adopted. Diffuse benefits, concentrated costs, and a set of governments which gain much of their power through monetary policy blows this assertion out of the water. >The consensus among economists is that a deflationary currency is a terrible idea. There are a few fiat currencies that have negative interest rates. They are not going anywhere. Most notably the European central bank.