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Not everyone interested in Bitcoin are libertarian gold-hoarders :) Some of us are interested in it because Bitcoin represents an experiment into a distributed
by weavejester 13y ago
Not everyone interested in Bitcoin are libertarian gold-hoarders :)
Some of us are interested in it because Bitcoin represents an experiment into a distributed network for ownership, in the same way that the Internet is a distributed network for data.
Ultimately, the economics of Bitcoin don't hugely matter in the long term, because crypto-currencies can be programmatically traded between different blockchains using distributed contracts. The hard part is getting an interface up between "normal" currency and crypto-currencies.
There are already some crypto-currencies out there that experiment with different economies and setups. Dogecoin (yes, that Doge) has a fixed inflation rate, for instance, while Peercoin uses a proof-of-stake/proof-of-work mixup that gets around Bitcoin's large use of computing power.
- JulianMorrison 13y agoDogecoin has a fixed rate of growth of the money supply - inflation is the ratio of growth of the money supply to growth of the economy. So a shrinking money supply can be deflationary, but so can a growing one whose usage is growing faster. DOGE, right now, is probably deflationary.
- weavejester 13y agoThanks for the correction.
- SimHacker 13y agoAnd not everyone who claims to be a libertarian gold-hoarder is actually a libertarian, even if they're into bitcoin. That's just a term that disgraced embarrassed republicans who want to snort coke and party with hookers call themselves. If they still listen to Glenn Beck's advice about gold hoarding and vote republican because they hate Obamacare and resent the 47% freeloading on them (or for any reason), then they're still republican. ;)