“Cryptocurrencies are the Future of Money, Bitcoin Is Not” says Economist

“Cryptocurrencies are the Future of Money, Bitcoin Is Not” says Economist

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  1. So he thinks that a “cryptocurrency board” will manage the quantity and price of a “stable coin” and that is a better idea. A cryptocurrency board sounds a lot like a central bank.

    I would rather side with a Micheal Saylor on this one. Better to have a limited asset that is volatile and going up in value… as compared to a less volatile asset like a fiat currency that continues to decline in value.

  2. Spend 12 years getting a degree. Spend just as long talking against a brick wall to prove your own reality.

    This is how these educated types, wistfully thinking out loud, strike me.

  3. LOL! What a moron! His argument is that bitcoin can never be money because you can’t print it indiscriminately like the US dollar (leading to the massive inflation we’ll experience soon). Economists like this are the problem! Money printer goes brrr! Bitcoin fixes this!!

    >Since Bitcoin’s source code predetermines that Bitcoin’s supply will ultimately be fixed and totally inelastic, all market adjustments can take place only via price changes, not quantity changes. As a result, it is destined to be inherently subject to extreme price volatility.



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