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Yeah I don’t. The authorities can not be trusted with the money supply. It must be algorithmic and well known, enforced by free and open source software. To quo
by randomhodler84 5y ago
Yeah I don’t. The authorities can not be trusted with the money supply. It must be algorithmic and well known, enforced by free and open source software. To quote Satoshi:
“The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust.”
- boplicity 5y agoI'm not sure I understand your reasoning -- you seem to be saying that authorities can't be trusted, and leaving it at that. It's just not a compelling argument. Are there other reasons?
- randomhodler84 5y agoRather than using a trusted third party to control the interest rates and money supply, Bitcoin and cryptocurrency in general provides an alternative market based approach — for energy and computational security that does not require a trusted third party, instead we have verifiable cryptography with hashing and digital signatures. Solutions without ttp > solutions with ttp
- mrpf1ster 5y agoIf only cryptocurrency did any of that, instead of being an inefficient climate change accelerator primarily used to buy drugs and gamble on the internet.
- randomhodler84 5y agoLol, 2013 called it wants it “Bitcoin is only used by criminals” FUD back