Tech bros: we're gonna change the world with untraceable, low-latency, digital currency! Narrator: it was none of those things, in the end, but they did "change the world"...https://twitter.com/EricHolthaus/status/938114707160027137 …
Deflationary effect is basically key to mining. Or do I misunderstand the artificial scarcity of coin mining divorced from productive allocation of capital?
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There's a difference between volatility and (predictable) inflation or deflation. USD inflates predictably, it's not considered volatile. It doesn't seem likely to me that either volatility or deflation is inherent to crypto.
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Not personally bought off on "currency needs to inflate at 3% per year" but seems like such a thing might be implementable. Much more important is low volatility, which seems could emerge as market size matures (gold has relatively lower vol and still tiny market)
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