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A comment on Basecoin: A Robust, Price-Stable Cryptocurrency with an Algorithmic Central Bank. Parent comment

Re:Basecoin: A Robust, Price-Stable Cryptocurrency with an A... by qubex on Friday December 22, 2017 @10:49AM (#15988281)
I wrote this about the absurdity of bitcoin's (and other naive cryptocurrencies’) finite amount of money a while ago, and have posted it a few times in threads (so please forgive me if you have already seen it). I try to explain in layman's terms (I am a macroeconomist) why finite-supply (thus deflationary) and non-fractional-reserve-banking-enabling currencies are toxic to the economy.

https://medium.com/@jamesjunghanns/my-0-00000173120-btc-a-pr...

I specifically mentioned BaseCoin as being a reasonable and macroeconomically valid currency.

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Re:Basecoin: A Robust, Price-Stable Cryptocurrency with an A... by mooneater on Friday December 22, 2017 @01:38PM (#15989766)
> absurdity of bitcoin's (and other naive cryptocurrencies’) finite amount of money

Bitcoin can be seen as a middle finger to inflation, more than a basis for primary currency.

If nothing else, it certainly as helped advance the conversation on the nature of money supply.

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Re:Basecoin: A Robust, Price-Stable Cryptocurrency with an A... by qubex on Saturday December 23, 2017 @07:22AM (#15993932)
Cryptocurrencies (at least the first ones, those before BaseCoin) aren’t really currencies at all. They’re ’just’ clever decentralised ways of manufacturing scarcity in this day and age of infinitely copiable digita information.
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