The main story of crypto currency is: "We have found a new way to print money and keep some of it". I wonder how much of the economy is like this.
I was not criticizing bitcoin or questioning its mechanism. I was just pointing at a thing.
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Mining bitcoins isn't really "printing", it's highly competitive. In theory at least, in practice, there's an advantage for certain Chinese outfits. But this should mitigate over time, so it should become harder and harder to "keep it". Not much different to any other industry.
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The issue I wanted to point at is that while you are allowed to mine gold, you are generally not allowed to mint a currency from it. That’s the right of the kings. Bitcoin manages to subvert this somewhat, which is its main innovation
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