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Agreed. Crypto is risky and volatile, and can go to zero and that makes it difficult for the average person to treat it as a savings vehicle. The distinction in
by stillsut 5y ago
Agreed. Crypto is risky and volatile, and can go to zero and that makes it difficult for the average person to treat it as a savings vehicle. The distinction in predictability between the two system is kind of subtle:
In bitcoin, the internal system mechanics are highly predictable. But there's no external "Open Market Committee" (e.g FOMC) that will change the market price to hit the targets mandated by its stakeholders.
In dollars, the internal system is becoming more unpredictable, while there are numerous external systems (e.g. bailouts, QEx, etc) which are very predictable: they will act to make sure the economic tradeoffs shield the voters of the system from experiencing pain to the next election cycle.
Neither seems ideal in its present form.
- NicoJuicy 5y agoBut Bitcoin isn't transparent either, because none of the companies infuencing Bitcoin are.
- stillsut 5y agoOn January 1, 2028 how much bitcoin is there? You can predict the supply to within +/- 0.00001%, regardless of the companies who influence bitcoin. On January 1, 2028 how much M2 money supply is there? 10% more? 10% less? 100% more? 1,000% more? It completely depends on who is influencing it.
- NicoJuicy 5y agoHow much money will tether print to buy Bitcoin tomorrow?