4 ms·
How do you figure? A currency no central authority has a monopoly on deciding supply is on it's face more decentralized, and an improvement on the social front,
by betwixthewires 4y ago
How do you figure? A currency no central authority has a monopoly on deciding supply is on it's face more decentralized, and an improvement on the social front, regardless who has what.
A currency entirely owned by one person isn't a currency, and people actually using it causes dispersal to a naturally occurring Pareto distribution over time.
- manquer 4y agoCurrency’s is not wealth , most wealth is not stored as a currency or cash [1] it is stored in assets. If you see how actual physical cash [2] i.e. dollar bills ownership then it won’t be distributed in a typical Pareto curve. If I don’t have access to notes and coins. I won’t use them so government makes sure I have access . They still will mint it even a at loss like the penny. Also all power distributions are not Pareto distributions, bitcoin is lot steeper than the standard ones used in economics , that is what this article implies /shows in its analysis . —— [1] including other cash equivalents like bank accounts not just literal printed money. Accounting standards has well understood definition of cash equivalents [2] comparing against only physical cash (M0) because there is finite fixed amount of bitcoins available at any given point It is not possible to increase bitcoin M1/M2 supply like with fractional reserve banking so you cannot compare against narrow money let alone broad money(M3/M4)