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That would be true if the only way to create a failed currency was to print it to death. But we've observed cryptocurrencies with mining caps collapse to $0 in
by UncleMeat 5y ago
That would be true if the only way to create a failed currency was to print it to death. But we've observed cryptocurrencies with mining caps collapse to $0 in the same way as a fiat currency.
- datadata 5y agoFair to say bitcoin fixes this particular large and important class of currency failure, by taking away the power to print it to death?
- UncleMeat 5y agoYes, while introducing a host of other very serious problems.
- albntomat0 5y agoThat it does, but I understand that Bitcoin's deflationary by default nature has also been criticized. Bitcoin also adds new failure cases such as irreparably losing money through address typos and lost/failed hard drives, not to mention the numerous & exciting failures in DeFi.