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Ok then, Zimbabwean dollars then. The distinction is not because of what Bitcoin is, it’s that you think demand may go to zero. Well, it has gone to zero for “b
by beagle3 6y ago
Ok then, Zimbabwean dollars then. The distinction is not because of what Bitcoin is, it’s that you think demand may go to zero. Well, it has gone to zero for “bona fide” currencies like zim dollar recently and German currency 100 years ago.
- notahacker 6y agoSure, Zimbabwe and the Weimar Republic issued currency that was mostly not backed by repayment obligations (they printed precisely because they needed funds far in excess of what they could tax) much like Bitcoin is almost entirely not backed by repayment obligations. It is possible for a sufficiently incompetently managed central bank to create an asset almost as unlikely to be needed to make payments as your average cryptocurrency.