Quote:
Originally Posted by jammies
You have just demonstrated exactly the level of knowledge of bitcoin I was complaining about. The bolded, in particular, is you saying "deflation is the same as inflation", and not seeing how ludicrous that is.
|
You ignored the entire rest of my post. I argues cost is a key that blockchain can massively disrupt.
I never said said anything about Bitcoin being anti-inflationary as a key argument for its usefulness.
The question is do you prefer the government controls the supply and inflation policies or a centralized entity and true supply and demand.
What do you think would happen tomorrow if no one wanted to hold a USD because they lost confidence in it as a currency? What is no one had confidence in ANY of the banks or governments?
This is an actual use case in many countries and there currencies.
There are endless use cases for a decentralized currency.
Bitcoin prices go up because people demand it and there is a limited supply. In fact, a known FINITE supply (No other commodity I can think of has a known finite supply)
A currency needs to be portable (Where gold fails), easily liquid (where lots of assets fail) Crypto checks both of these.
Again - Bitcoin MAY not be the answer or the winner. They are the most popular right now, but there are lots of other competitors.
I can tell you one thing though - Within 10-15 years currency and banking as you know it will have completely changed.