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This experiment basically just points out that whether value storage is primarily a social concept or a technical/resource distribution one is still an open que
by porknubbins 5y ago
This experiment basically just points out that whether value storage is primarily a social concept or a technical/resource distribution one is still an open question. It seems like as we are seeing so many forked coins we are seeing an entropic diffusion of value throughout the crypto ecosystem where before it would have just accumulated to BTC, but its not clear if the whole thing will keep expanding or shrink.
- alanlammiman 5y agoyep. Likewise with USD monetary aggregates growing - one would imagine that the value of the underlying US economy would be diffused among more USDs (inflation) but it often seems that loose policy helps the US economy grow and somewhat make up for it (eg we have inflation now, but back post 2008 it was really surprising to me that we didn't). Of course with crypto you have the factor of more forks/coins rather than more of the same...
- porknubbins 5y agoTrue, you could describe any inflation as "value diffusion" but USD inflation seems to me more like the intra coin inflation that comes from more BTC being mined (until the cap is hit of course), whereas these people are creating new currencies.