Re:Bitcoin and cryptocurrency prices have fallen sharply ove...
by nostrademons on Thursday March 12, 2020 @06:38PM
(#22562690)
Actually I think populations tend to use the softest money that they have any confidence will be worth something tomorrow - that's Gresham's Law, "Bad money drives out good". And that's sorta happening with Bitcoin as well. It's use as a currency is declining, and people hoard it for price appreciation.
But you're right that Bitcoin cannot be undiscovered. It wouldn't surprise me if the dominant currency would be some other cryptocurrency with built-in inflation (maybe ETH, maybe XLM) that remained outside of the ability of some single entity to cause runaway inflation.
Populations tend to the hardest money. Bitcoin cannot be undiscovered.