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It doesn't help that the most popular cryptocurrency is intentionally deflationary. Deflationary currencies are terrible units of exchange.
by aidenn0 3y ago
It doesn't help that the most popular cryptocurrency is intentionally deflationary. Deflationary currencies are terrible units of exchange.
- AnimalMuppet 3y agoGresham's Law: Bad money drives out good. If cryptocurrency is deflating, it's becoming more valuable with time. The dollar is inflating - it's becoming less valuable with time. So given the choice, I would pay with dollars and hold crypto. That's just normal human behavior. But while that may make crypto a good investment, it makes it a terrible unit of exchange, as you say (or at least a unit of exchange that will only be used as a last resort).