A deflationary cryptocurrency has a low probability of being used for payments -- at any meaningful scale https://hackernoon.com/the-impact-of-bitcoins-deflationary-token-economics-on-its-viability-as-a-global-digital-currency-878f3042fb08 … ...A great store of wealth though!
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how do you explain gold? By 1880, it was was mildly deflationary and yet it was a SoV, an MoE, a UoA, a global monetary standard and stable.
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Deflationary in what sense?
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"The point is that by not building in an inflation, of say 2% per annum in the global supply of Bitcoin, you almost doom it as a currency, because people will start hoarding it, knowing that it’s going to be worth more next year than it is this yr" - @ 51mhttps://asiasociety.org/hong-kong/should-people-invest-bitcoin …
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Replying to @cryptow1re @panekkkk and
"A hard supply cap or built-in deflation is not an inherent strength for a would-be money. A money’s strength is in its ability to meet society’s needs."https://www.economist.com/blogs/freeexchange/2014/04/money …
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are you really quoting the notoriously Keynesian "the economist"?
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Replying to @MustStopMurad @cryptow1re and
absent governments to continuously print more, a free market would never converge around an inflationary coin. fixed supply would be the schelling point. picking an inflationary one is irrational.https://www.youtube.com/watch?v=WL9BHDEf0dI …
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It’s impossible to make such a strong statement. We really don’t know. The market may converge around a mildly inflationary currency if it’s a more widespread MOE. Nothing exists in a vacuum except for your theories.
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something volatile is NOT going to be widespread as an MoE. people prefer their day to day currency to be stable. That is why you need to saturate SoV+achieve lower volatility to get to MoE, or build a stablecoin. how is this not obvious stuff
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ETH is *already* proving that wrong. Billions were raised in ICOs in which indeed
$ETH was being used as an MOE (as was$BTC). People are still using it as an MOE despite volatility. It may not see widespread usage but both may develop simultaneously. It's really not hard to see.3 replies 0 retweets 2 likes
ICO are still niche in size and nature, and there were few alternatives. by Widespread I meant continuous global commerce among serious corporations, not the ponzi schemes that are ICOs. watch even ICOs jump to accepting stablecoins when they launch to avoid vol risk.
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