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A comment on Bad code may be to blame for $500M of cryptocurrency losses in seven months. Parent comment

Re:Bad code may be to blame for $500M of cryptocurrency loss... by CodeCube on Tuesday February 13, 2018 @09:09AM (#16367180)
This is a really interesting perspective ... though, I'm sure it could be argued that, "it only makes them more rare, and thus valuable!!11!1!" ;)
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Re:Bad code may be to blame for $500M of cryptocurrency loss... by rulum on Tuesday February 13, 2018 @11:07AM (#16368169)
And that is exactly what you don't want in "money" in a functional economy. You don't want deflation. You want price stability.

So the more it gets artificially valuable, the more useless it becomes for its intended purpose.

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Re:Bad code may be to blame for $500M of cryptocurrency loss... by dlwdlw on Tuesday February 13, 2018 @02:49PM (#16370117)
It is valuable as a store of value though. Either pure like gold, or tied to something more like assets. USD is a bit strange because it is both a store of value used by many countries as well as a currency. there is an implicit peg to oil though. So the the price of oil is something fairly important to the US.
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Re:Bad code may be to blame for $500M of cryptocurrency loss... by gamblor956 on Tuesday February 13, 2018 @04:36PM (#16371015)
The USD is a currency. Due to its stability, it is also used as a store of value by foreign countries.

Oil is pegged to the dollar. The price of oil is relevant because of its effects on prices, not the dollar.

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Re:Bad code may be to blame for $500M of cryptocurrency loss... by dragonwriter on Tuesday February 13, 2018 @04:41PM (#16371057)
> Oil is pegged to the dollar.

Oil producers may target a dollar price and trade in dollars, but oil is not pegged (that is: trading with a fixed exchange rate) to the dollar.

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