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It's for this reason I feel that Bitcoin itself is a failed experiment. To the extend that people come to rely on it, we will see increased volatility. Other
by kaonashi 13y ago
It's for this reason I feel that Bitcoin itself is a failed experiment. To the extend that people come to rely on it, we will see increased volatility.
Other crypto-currencies such as http://freico.in/ http://freico.in/ have seemed to at least tried to address this issue.
- clienthunter 13y agoFrom the article: > the privileged position held by money compared with capital goods, which is the underlying cause of the boom/bust business cycle This is far from accepted wisdom.
- kaonashi 13y agoRegardless of how the boom/bust cycle originates, an elastic money supply can accommodate those swings so that they do not cause harm to the overall economy. Bitcoin is the opposite of an elastic money supply, and eventually it becomes a completely static money supply. This is a feature as far as a store of value goes, but a liability when it comes to medium of exchange.