Bitcoin could trigger financial meltdown, warns Bank of England

Re:Bitcoin could trigger financial meltdown, warns Bank of E... by nikanj on Thursday October 14, 2021 @11:23AM (#28865576)

A promise of what, exactly? Who made that promise? How do I enforce it?

[ Parent | on HN ]

Re:Bitcoin could trigger financial meltdown, warns Bank of E... by me_me_me on Thursday October 14, 2021 @01:36PM (#28867377)

Well for once a finite unalterable coins.

There is a guarantee of negative inflation. There is noone who can out of blue print 1T of BTCs and give it to rich to stimulate economy.

Built in transferability so you dont have to rely on some organisations to facilitate transfers and charge you arbitrary amounts.

You don;t have to like those, or agree whether its good or bad but those things are set in stone for BTC.

[ Parent | on HN ]

Re:Bitcoin could trigger financial meltdown, warns Bank of E... by throw0101a on Thursday October 14, 2021 @05:23PM (#28870327)

> There is a guarantee of negative inflation. There is noone who can out of blue print 1T of BTCs and give it to rich to stimulate economy.

I would count this as a "con" and not a "pro". A fixed money supply is one of the things that caused a minor economic hiccup to turn into the Great Depression.

* https://www.nber.org/papers/w3488

Going to the equivalent of a digital gold standard is retrogradation:

* https://www.vox.com/2014/7/16/5900297/case-against-gold-stan...

[ Parent | on HN ]

Re:Bitcoin could trigger financial meltdown, warns Bank of E... by me_me_me on Friday October 15, 2021 @05:10AM (#28875799)

That is literally what I said.

My point is that BTC has built in promises that cannot be broken.

[ Parent | on HN ]