Re:Bitcoin Halving Just Occured
by CameronNemo on Monday May 11, 2020 @08:32PM
(#23149225)
>If Bitcoin were actually useful, someone would have figured it out by now, and it would be widely adopted.
Diffuse benefits, concentrated costs, and a set of governments which gain much of their power through monetary policy blows this assertion out of the water.
>The consensus among economists is that a deflationary currency is a terrible idea.
There are a few fiat currencies that have negative interest rates. They are not going anywhere. Most notably the European central bank.
Re:Bitcoin Halving Just Occured
by qwytw on Tuesday May 12, 2020 @03:28AM
(#23151388)
But the euro is not deflationary. Negative interest rates actually have an opposite effect of what you're assuming, they should discourage hoarding and encourage borrowing which results in a higher money supply.
Diffuse benefits, concentrated costs, and a set of governments which gain much of their power through monetary policy blows this assertion out of the water.
>The consensus among economists is that a deflationary currency is a terrible idea.
There are a few fiat currencies that have negative interest rates. They are not going anywhere. Most notably the European central bank.