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whether you fork from bitcoin or just create another alt coin, they just don't have enough critical mass to compete with the originals. > worse than whatever y
by throw8383833jj 4y ago
whether you fork from bitcoin or just create another alt coin, they just don't have enough critical mass to compete with the originals.
> worse than whatever you think is happening to the US dollar.
Bitcoin is risky: it's down over 70% from it's highest point. But the dollar is down over 98%! (from 100 years ago) and let's not forget, the rate at which the dollar and other fiats are crashing is getting faster and faster. at 10%, you'll loose half your purchasing power in just 7 years.
- hnthrow1010 4y agoI'm sorry, can't you see what you're saying? Bitcoin can crash over 70% in the span of a month, that's significantly more than the dollar's inflation over 50 years. And unless you're trying to retrieve your great-grandparent's piggy bank from 1922 and spend its contents, then the dollar inflation from 100 years ago is irrelevant. Even over a year the small level of inflation in USD is inconsequential for the use of a currency. The thing about the inflation of the dollar is that the rate of inflation has become relatively stable and predictable, this is what actually makes it useful as a medium of exchange. With the way bitcoin is now, its inflation or deflation will never be stable, it always will be completely random making it useless as a currency; bitcoiners simply are philosophically opposed to anything that could control the rate of deflation/inflation, like having capital controls and a reasonable monetary policy.