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The finite supply is a feature, not a bug. I agree there are many aspects of bitcoin that suck, but not this one. We are right now witnessing many governments p
by mnx 6y ago
The finite supply is a feature, not a bug. I agree there are many aspects of bitcoin that suck, but not this one. We are right now witnessing many governments printing more and more money, which makes it less and less valuable. Bitcoin avoids that.
- Rallerbabs 6y agoThere is absolutely nothing about bitcoin that sucks. It is exactly what it needs to be: the world's hardest store of value. Every design decision comes with trade offs. All the right trade offs have been made. If you'd reinvent it from scratch, you'd end up with the exact same thing. The only thing about bitcoin that sucks, is that nocoiners don't have any. And they won't have any until it's $1M. Nobody wants to be the first. But everybody wants to be second.
- totalZero 6y agoCentral banking does have some benefits. Printing money can make a currency more valuable if it reduces volatility, because that draws more participants into the currency. > The finite supply is a feature, not a bug. Finite supply means that a guy who mined a bunch of bitcoin in his dorm room in 2011 because the university gave him free electricity can move the price when he decides to sell.
- Ekaros 6y agoFeature that can be changed. Specially if armies come to play... After all whole feature set is consensus of miners, not the users... State actors have good handle on violence. And then you better be on the same chain as they are, or it's jail time...
- Rallerbabs 6y agoFeatures that can't be changed. Certainly not when armies come to play. You can change the bitcoin source code to have more coins and deal out half to yourself first. That's the easy part. But then comes the part where you have to convince the whole world that your chain is the one, true bitcoin. Good luck with that.
- Grustaf 6y agoLimited supply does not make things valuable per se.
- Rallerbabs 6y agoIt does if there's demand for it. And there's been growing demand for bitcoin for 12 years and counting. It's deflationary by design. But by all means, stick to your government money. Printer goes brrrrrrrrr.
- bccdee 6y agoYou realize deflation is bad, right? There's a reason why the central bank deliberately keeps inflation at a steady 2%. Slow, steady inflation is the ideal.
- Rallerbabs 6y agoStore your value in fiat then, if you enjoy watching icecubes melt so much.
- bccdee 6y agoNah, I keep it in a mutual fund. That's the point of inflation — spend or invest, but don't just sit on it.
- Rallerbabs 6y agoI invested my inflationary fiat in deflationary bitcoin. I sit on it while it appreciates. Number go up.
- Grustaf 6y agoThe value of bitcoin increases because people speculate, not because the number of them is fixed. I bet there are hundreds of crypto currencies that have fixed or decreasing stock that keep losing value, or are already worthless.
- colinmhayes 6y agoIt's a shitty feaure advocated for by people who are proud of being ignorant. Fiat currency and monetary policy is largely responsible for the economic success of the last century.
- Rallerbabs 6y agoThere will be greater economic success in the current century, due to better money: bitcoin.