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I bought 50$ of bitcoins a year ago. I have sold them this week for 100$. I'll buy back when it's low. At first I thought a deflationary currency was the futur
by chm 13y ago
I bought 50$ of bitcoins a year ago. I have sold them this week for 100$. I'll buy back when it's low.
At first I thought a deflationary currency was the future. The more I think about it, the more I think bitcoin is just the first step on a bumpy road. I don't see the point anymore in buying bitcoins to then buy goods/services. What always ends up happening is that someone somewhere hogs them and waits for the price to go up. I'm then stuck to buy at a premium, every time, unless I had a stash of coins to begin with, something which most potential adopters don't have. I'm also not convinced that the early adopters should get a bonus from having mined so many coins when it was easy. I don't have a silver bullet, but I think this problem could be fixed by a new cryptocurrency. Either dampen the bonus to early adopters or remove it entirely. This should be a goal of crypto-anarchists, I think...
Or maybe I'm wrong and we'll be seeing a lot of trade going on with different denominations of one BTC in the near future. Maybe people don't care to give a premium to early adopters.
- maaku 13y agoYou might be interested in Freicoin: http://freico.in/ http://freico.in/
- brador 13y agoOr if there was a system that gave all users 1 free cryptocurrency unit every day. Effectively basic income within a cryptocurrency system. But then you get inflation.
- bunderbunder 13y agoYup. The magic word here is "liquidity trap". Interesting read. Related, with babies: http://www.pkarchive.org/theory/baby.html http://www.pkarchive.org/theory/baby.html