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My thinking has always been that Bitcoin can solve the issue of continued printing of fiat money. Bitcoin and other crypto clearly introduces other problems but
by nebula8804 3y ago
My thinking has always been that Bitcoin can solve the issue of continued printing of fiat money. Bitcoin and other crypto clearly introduces other problems but this fundamental weakness of fiat currency is still there and unsolved. Will bitcoin/crypto really go away if this issue with fiat currency is still unresolved?
- kinakomochidayo 3y agoBitcoin has a critical issue looming with the security budget, as each halvening means less revenue for miners, and miners don’t get enough transaction fees to incentivize running ASIC mining farms.
- astrange 3y agoYou can print new crypto by forking an existing chain, because if it suddenly gets a ton of new users, none of them have any reason to respect what the slow database says the current ones belong to. Meanwhile, printing fiat money isn't a problem and is in fact the reason the system works. Crypto users and Austrians are deluded about the purpose of money, which is to facilitate transactions and not to keep score.
- adultorata 3y agoCheck out Ampleforth, a perfect elastic supply, if Bitcoin had oracles in 2008, then the protocol would've behaved as AMPL