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The crypto believers told me US dollar would enter hyperinflation very soon and Bitcoin will be the only viable currency because it has a finite supply.
by rot13xor 4y ago
The crypto believers told me US dollar would enter hyperinflation very soon and Bitcoin will be the only viable currency because it has a finite supply.
- ramesh31 4y agoElephant shit also has a finite supply, and is actually more useful than Bitcoin.
- epolanski 4y agoWhy something that has a finite supply would be viable as a currency. Since it's deflative all the incentive is holding, not spending. Why buy a house for 5 bitcoins now, if I can get it at 4 bitcoins 3 months from now..What if I could get it at 1 bitcoin in 3 years...crazy right..? And no one spends, because the incentive is not here. Our economies are all based on people wanting to spend or invest rather than stock money.
- mattwilsonn888 4y agoHow is saving for the future somehow bad? People will spend on what's important and the bullshit will go bankrupt. Welcome to reality.
- timtas 4y agoYou're right. No one ever buys computers or phones. They'll be cheaper and more powerful tomorrow!
- matheusmoreira 4y agoFinite supply doesn't even matter anymore since exchanges are now operating like banks with fractional reserves, loans and everything. Through credit they can inflate away the value of cryptocurrencies as much as they want. The entire financial system was reinvented on top of bitcoin, it's the worst possible outcome.
- Breza 4y agoYou just put your finger on what has been frustrating me and cryptocurrency for the past few years, thank you
- mattwilsonn888 4y ago> entire financial system was reinvented on top of bitcoin You can build shit on top of anything. But you can't build anything worthwhile on top of shit. Bitcoin at least has a solid, extractable, base.