I’m actually pissed Bitcoin is so deflationary because that incentives people to invest and hold it, and sure that causes the price to rise a ton, but it also lowers the pressure on people to sell it, making it less like a currency and more like an investment.
Satoshi low-key just wanted to be rich, otherwise there wouldn’t have been a cap on the number of Bitcoins that can exist
good thing there’s other currencies that actually don’t suck
Yea, it is sad to see that many of crypto-coin project are handled as trading assets and not as what it started with: open currency.
I would love to see more stability so that cryptocurrencies can be used for buying stuff more easily.
otherwise there wouldn’t have been a cap on the number of Bitcoins that can exist
there are other reasons for this: an uncapped coin is inflationary, so it can loose its value given enough time, no matter what happens to the economy around it. But then again, many projects without a cap try to set the emission-rate so that it somewhat balances creation with burn (for example by lost wallets or transactions to invalid addresses).
I really prefer that second option to cause deflation because it allows currencies to be only slightly deflationary, but not too much like bitcoin which has just turned into an investment
I’m actually pissed Bitcoin is so deflationary because that incentives people to invest and hold it, and sure that causes the price to rise a ton, but it also lowers the pressure on people to sell it, making it less like a currency and more like an investment.
Satoshi low-key just wanted to be rich, otherwise there wouldn’t have been a cap on the number of Bitcoins that can exist
good thing there’s other currencies that actually don’t suck
Yea, it is sad to see that many of crypto-coin project are handled as trading assets and not as what it started with: open currency. I would love to see more stability so that cryptocurrencies can be used for buying stuff more easily.
there are other reasons for this: an uncapped coin is inflationary, so it can loose its value given enough time, no matter what happens to the economy around it. But then again, many projects without a cap try to set the emission-rate so that it somewhat balances creation with burn (for example by lost wallets or transactions to invalid addresses).
I really prefer that second option to cause deflation because it allows currencies to be only slightly deflationary, but not too much like bitcoin which has just turned into an investment