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A comment on Bitcoin could trigger financial meltdown, warns Bank of England. Parent comment

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 ]