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Of course, if people start using another currency then they lose a lot of power. Being able to print your own money is a huge power states have. You won’t be ab
by chad_stevens 5y ago
Of course, if people start using another currency then they lose a lot of power. Being able to print your own money is a huge power states have. You won’t be able to print your way out if a crypto takes over, that’s why crypto will never be a thing; unless the state makes a bastardized/spy coin.
- bubbleRefuge 5y agoIs there any way for the government to control the issuance of crypto coins? The Fed has proposed creating a 'digital' dollar . Just not sure if its the same thing as a crypto dollar ?
- PretzelPirate 5y agoThe concept of Cryptocurrencies doesn’t prohibit the arbitrary creation of new coins, that’s just an implementation details of most of the popular ones. Even Bitcoin could have allowed for Satoshi to create new coins on a whim, but that wasn’t Satoshi’s goal. A government could create a cryptocurrency where they control inflation.
- kayamon 5y agoAny additional cryptocurrency is already inflation.
- scottiebarnes 5y agoThat's not the definition of inflation. Inflation is the reduction of buying power via the creation of additional units. Cryptocurrency is a word used to describe a class of assets, each protocol/network being its own asset. Given that cryptocurrency is usually open source and forkable, there are unlimited amount of "currencies". I can literally register 100 domains and fork 100 variations of bitcoin to create 100 new unique projects. That doesn't mean I've inflated anything at all. 1 dogecoin is not 1 bitcoin.