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Anon describes currency (lemmy.world)

submitted 1 week ago by [email protected] to c/greentext

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[–] [email protected] 8 points 1 week ago (1 children)

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).

[–] untakenusername 5 points 1 week ago

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