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A comment on Central bank cryptocurrencies. Parent comment

Re:Central bank cryptocurrencies by neilwilson on Tuesday September 19, 2017 @03:11AM (#15282403)
Bitcoin might be rigid, but that is solved by having lots of cryptocurrencies. Which then sort of defeats the 'hard money' nonsense theories behind its construction.

Similarly with Gold. Once Gold gets to a point people start hoarding elements with other atomic numbers.

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Re:Central bank cryptocurrencies by DennisP on Tuesday September 19, 2017 @07:32AM (#15283632)
Exactly, cryptocurrency isn't digital gold, it's the system of privately-issued competing currencies advocated by Hayek.
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Re:Central bank cryptocurrencies by paulgb on Tuesday September 19, 2017 @09:33AM (#15284412)
Hayek's currencies were backed by the issuer. They're more analogous to frequent flyer miles than cryptocurrencies.
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Re:Central bank cryptocurrencies by DennisP on Tuesday September 19, 2017 @12:31PM (#15286114)
They could be backed in some way, but Hayek only relies on competition between issuers. In his book he writes extensively about unbacked paper money.
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