Re:Bitcoin mining is being banned in countries across the globe
by nybble41 on Monday January 10, 2022 @07:51PM
(#29885545)
> Cryptocurrencies, in general, are not in fixed supply.
Cryptocurrencies, in general, are not all valued the same. And why stop at crypto—surely the same reasoning would apply to USD supply inflation, if you're just going to lump all (crypto-)currencies together as a single good?
Sure, you can introduce new types of coins or massively inflate the ones which don't have a fixed supply, but that doesn't impact (for example) the limited supply of bitcoins. The overall effect is mainly just to devalue the inflated coins relative to other currencies.
Cryptocurrencies, in general, are not all valued the same. And why stop at crypto—surely the same reasoning would apply to USD supply inflation, if you're just going to lump all (crypto-)currencies together as a single good?
Sure, you can introduce new types of coins or massively inflate the ones which don't have a fixed supply, but that doesn't impact (for example) the limited supply of bitcoins. The overall effect is mainly just to devalue the inflated coins relative to other currencies.