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Yes it can. Why can't it? It's something people want because it's value increases, and there's a limited number of it. People don't know what value to assign to
by andrewmcwatters 6y ago
Yes it can. Why can't it? It's something people want because it's value increases, and there's a limited number of it. People don't know what value to assign to it, so its price violently fluctuates.
I have no idea where this thinking comes from that it's novel other than people are sold on the hype of the concept without thinking about the concept from a different angle.
If we did "Bitcoin by hand" and threw out increasingly large numbers, and whoever could figure out its factors would be awarded a ticket, and lets say there's only 100 million tickets, what would be the difference?
That it can't be counterfeited? That the central bank can't print more tickets? That's it? Wow, OK. You know, the counterfeiting issue isn't one that modern economies face in significant portion anymore. And if you wanted to prevent the printing of money, you could just ask your local representative to advocate for the US to go back to the gold standard.
Except it doesn't work anymore. So why would it work in software?