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My guess is that it's more likely to be another cryptocurrency that becomes the standard. Once the right people figure out how to be the main beneficiaries. A
by redblacktree 14y ago
My guess is that it's more likely to be another cryptocurrency that becomes the standard. Once the right people figure out how to be the main beneficiaries. Also, I'm not sure that a depreciating currency is good for society as a whole, since it encourages hoarding, rather than investment.
- wmf 14y agoDid you mean Bitcoin is appreciating because it's deflationary?
- polshaw 14y agoFWIW bitcoin is still inflationary (in terms of money supply increase)-- and quite a lot more than traditional currency; although the rate of increase halved at the start of the year.
- drcode 14y agoI believe this question is hotly debated among economists. I think deflation is probably fine: In the end, money isn't any good if you don't spend it, so hoarding has a natural limit.
- kamaal 14y ago>>In the end, money isn't any good if you don't spend it The money that you hoard, invest and which grows itself is the best kind of investment. I know of a few people who saved through their life to buy real estate and rent it out. The next generations have practically slept through their lives without ever working and yet continued to live like millionaires.
- narrator 14y agoRead "The Paradox of Savings" by F.A Hayek for a different view.
- GHFigs 14y agoMy guess is that it's more likely to be another cryptocurrency that becomes the standard. Out of curiosity, what are the existing or potential differences between cryptocurrencies? What does the competitive landscape look like?