Central bank cryptocurrencies
1–10 of 51 posts
Re: Central bank cryptocurrencies
#2Lol. So back crypto $ with trillions of $ of debt going back to the Louisiana purchase; kept alive by a pyramid scheme dependant on a certain and limitless supply of debt free immigrants, after they continue to prove they don't require anything concrete to generate demand & subsequently value?
Aka: how interested are people in a cryptocurrency worth market value minus 20 trillion $?
Re: Central bank cryptocurrencies
#3Lol. So back crypto $ with trillions of $ of debt going back to the Louisiana purchase; kept alive by a pyramid scheme dependant on a certain and limitless supply of debt free immigrants, after they continue to prove they don't require anything concrete to generate demand & subsequently value? Aka: how interested are people in a cryptocurrency worth market value minus 20 trillion $?
Your sentiment about fiat is appreciated and understood, but it's inaccurate to claim that USD's total value is equivalent to the current national deficit.
Re: Central bank cryptocurrencies
#4ShekelCoin
Re: Central bank cryptocurrencies
#5Very interesting. I'm intrigued by Fedcoin and how it incorporates the possibility of monetary policy into the cryptocurrency framework. The rigidity and hard ceiling on liquidity of Bitcoin is a major weakness of the currency (I know that Bitcoin enthusiasts see it as a strength) but if technology like Fedcoin can overcome that weakness I'm more bullish about cryptocurrency becoming part of the monetary scheme.
Re: Central bank cryptocurrencies
#6Very interesting. I'm intrigued by Fedcoin and how it incorporates the possibility of monetary policy into the cryptocurrency framework. The rigidity and hard ceiling on liquidity of Bitcoin is a major weakness of the currency (I know that Bitcoin enthusiasts see it as a strength) but if technology like Fedcoin can overcome that weakness I'm more bullish about cryptocurrency becoming part of the monetary scheme.
Deflationary currencies are hoarded, not spent in circulation. Even Aristophanes described it thousands of years ago. That's what advocates of "sound money" need to understand. Sound money is good, but for savings. On top of this you build other, less sound money, which circulates. This is also known as "Gresham's Law".
Re: Central bank cryptocurrencies
#7Very interesting. I'm intrigued by Fedcoin and how it incorporates the possibility of monetary policy into the cryptocurrency framework. The rigidity and hard ceiling on liquidity of Bitcoin is a major weakness of the currency (I know that Bitcoin enthusiasts see it as a strength) but if technology like Fedcoin can overcome that weakness I'm more bullish about cryptocurrency becoming part of the monetary scheme.
Deflationary currencies are hoarded, not spent in circulation. Even Aristophanes described it thousands of years ago. That's what advocates of "sound money" need to understand. Sound money is good, but for savings. On top of this you build other, less sound money, which circulates. This is also known as "Gresham's Law".
And that is exactly what is playing out with Bitcoin becoming a speculative investment vehicle rather than a currency.
Re: Central bank cryptocurrencies
#8Earlier quoted context omitted.
Deflationary currencies are hoarded, not spent in circulation. Even Aristophanes described it thousands of years ago. That's what advocates of "sound money" need to understand. Sound money is good, but for savings. On top of this you build other, less sound money, which circulates. This is also known as "Gresham's Law".
And that is exactly what is playing out with Bitcoin becoming a speculative investment vehicle rather than a currency.
Research before talking. Bitcoins are being spent more than ever: the transaction rate keeps increasing and is roughly doubling every 18 months https://blockchain.info/charts/n-transactions?timespan=all&d...
Preemptive reply to those who think speculators cause the tx rate to increase (often an invalid comment thrown out in HN): no they don't. Speculators typically leave the coins in an exchange wallet (they are not sufficiently technically savvy or motivated to run their own wallet). Buying/selling on an exchange does NOT create a transaction on the blockchain.
Re: Central bank cryptocurrencies
#9Lol. So back crypto $ with trillions of $ of debt going back to the Louisiana purchase; kept alive by a pyramid scheme dependant on a certain and limitless supply of debt free immigrants, after they continue to prove they don't require anything concrete to generate demand & subsequently value? Aka: how interested are people in a cryptocurrency worth market value minus 20 trillion $?
Your sentiment about fiat is appreciated and understood, but it's inaccurate to claim that USD's total value is equivalent to the current national deficit.
He's referring to the debt, not deficit. They aren't the same thing.
Re: Central bank cryptocurrencies
#10Earlier quoted context omitted.
And that is exactly what is playing out with Bitcoin becoming a speculative investment vehicle rather than a currency.
Research before talking. Bitcoins are being spent more than ever: the transaction rate keeps increasing and is roughly doubling every 18 months https://blockchain.info/charts/n-transactions?timespan=all&d... Preemptive reply to those who think speculators cause the tx rate to increase (often an invalid comment thrown out in HN): no they don't. Speculators typically leave the coins in an exchange wallet (they are not…
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