Re:What's Blockchain Good For, Anyway? For Now, Not Much
by nooron on Monday October 28, 2019 @02:54PM
(#21380255)
What leads you to think that a deflationary currency should be the sole basis for an economy?
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Re:What's Blockchain Good For, Anyway? For Now, Not Much
by pjkundert on Monday October 28, 2019 @06:24PM
(#21382400)
What leads you to believe that a cryptocurrency that is a viable money substitute is deflationary?
The current crop of global-consensus CA AP and CP systems underpinning fixed-issuance (deflationary) or clumsy dynamic issuance (eg. USDT, etc.) are nothing like the systems that will eventually provide a humanity-serving monetary system...
Everything you see now is "Pre Model-T", in automobile terms. You'll see little if any of it in use in a few years as "money", but cryptocurrencies are going to Tear the Doors Off the financial system.
Re:What's Blockchain Good For, Anyway? For Now, Not Much
by nooron on Monday October 28, 2019 @06:42PM
(#21382546)
I do not believe that a crypto that would be a viable substitute would be deflationary. I am observing that the most popular crypto today is bitcoin, that it is deflationary, that (many of) its fans like that property, and that it would be a poor basis for an entire economy.
I would genuinely like to hear more about how these future crypto currencies will "Tear the Doors Off the financial system". I got into cryptocurrency in 2012 and I have been hearing claims like that since then, but I have not found any of them plausible.