6 ms·

So now the developing world will start using their energy to mine BTC instead of manufacturing goods for us to consume. Will this ultimately cause inflation the

So now the developing world will start using their energy to mine BTC instead of manufacturing goods for us to consume. Will this ultimately cause inflation then? Because demand for goods will not be met? This crypto experiment keeps yielding more interesting results.

eejjjj82 6y ago
"This crypto experiment keeps yielding more interesting results." I completely agree. I don't pay attention to a lot (or any) online economic circles, but I'm astounded at the pushback of high profile economists (Krugman, et al) against the shear novelty of the moment for their discipline. Regardless of whether or not someone "believes" in bitcoin, the reality of the times is that cryptocurrencies are creating fantastically interesting economic experiemnts right under our noses. This seems like it would be the dream come true for an economist from an observational/curiosity perspective
- dgellow 6y ago
  These “experiments” have real life consequences on ”subjects” who never agreed to be part of it. We should maybe create a crypto-country where crypto-currencies fanatics are free to experiment all of this on themselves instead of all of us… (it’s a joke, please don’t create a crypto country!)
  - k_sze 6y ago
    You need to have bigger ambitions. Let's turn the whole planet into a crypto experiment. We can change the name of the planet Earth to ... Crypton.
  - javert 6y ago
    So you don't want to live with us, and you don't want to let us live separately.
maxerickson 6y ago
Industry that needs lots of energy already locates in places with stable grids.
silentsea90 6y ago
Yep, trillions of dollars got printed but BTC energy will cause inflation.