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It hasn't replaced it. But it does compete with it for some things. Payments with BTC certainly isn't competitive. But that probably won't last. Maybe we'll
by stretchwithme 5y ago
It hasn't replaced it. But it does compete with it for some things.
Payments with BTC certainly isn't competitive. But that probably won't last.
Maybe we'll still need branches. Not everybody can deal with the security required for crypto and there will probably be companies that help people treat it like a regular bank.
Inflation is a real issue and Hitler came to power after the hyperinflation in the Weimar republic. Fiat made that possible.
But Germany still would have had to pay the WW1 reparations somehow. With very high taxation probably.
But the hyperinflation happens after multiple years of expanding the currency too much, often with little impact for several years. That can destroy confidence in government in a way that consistently high but stable taxation might not.
- UncleMeat 5y agoHeard it here first. Fiat money caused the holocaust. Hyperinflation is not the result of monetary policy. Hyperinflation is the result of near total collapse of systems. BTC is absolutely not immune to hyperinflation. That's just what happens when the price of some currency tanks rapidly as people lose all trust in its stability. The mining cap does not prevent the collapse of BTC as a currency or the collapse of states that use it. Not even a little.
- stretchwithme 5y agoI don't how stable your systems are. If too much print currency is printed, prices will rise. And if the printing is great enough and sustained long enough, hyperinflation will result. Does a stable supply of a currency, coupled with collapsed systems, create hyperinflation? Does a currency's value only drop up where systems collapse and not suffer hyperinflation elsewhere where systems are working?