Why This Computer Scientist Says All Cryptocurrency Should "Die in a Fire"

Re:Why This Computer Scientist Says All Cryptocurrency Shoul... by glitchc on Wednesday February 04, 2026 @02:34PM (#46890534)

Bitcoin behaves exactly like a fiat currency would if driven completely by market forces. It's a good thought experiment in what the exchange rate would look like if the currency value is purely derived from demand and supply.

[ Parent | on HN ]

Re:Why This Computer Scientist Says All Cryptocurrency Shoul... by jjgreen on Wednesday February 04, 2026 @04:17PM (#46891923)

I've never understood why you'd need a currency specifically for Italian cars.

[ Parent | on HN ]

Re:Why This Computer Scientist Says All Cryptocurrency Shoul... by ahartmetz on Thursday February 05, 2026 @01:13AM (#46896289)

Two actually! Fiat vs Ferrari. https://ferrari-imports.enigmatechnologies.dev/

[ Parent | on HN ]

Re:Why This Computer Scientist Says All Cryptocurrency Shoul... by lern_too_spel on Thursday February 05, 2026 @12:24AM (#46895992)

No, it behaves like a speculative asset. The price goes up as long as the number of people who believe it will go up increases, causing more people to buy it. Once the supply of greater fools is exhausted, there is no reason for anybody to hold it because it's price isn't going up, so they sell to find something else that goes up. This causes more people to sell so they don't lose more until the price falls to the non-speculative utility of the asset, which is 0.

[ Parent | on HN ]