That’s actually the point. You want scarcity with a currency, when the supply is arbitrary you get a conflict of interest with the parties who control issuance, and all kinds of problems with economic planning. Currency denotes real life value, not unlimited virtual value. That’s why most NFT applications are stupid.
What is deflationary? Basically every crypto has a different issuance algorithm. None of them are “inherently” deflationary or inflationary, assuming you mean “deflation” in terms of price vs. other goods, and not supply terms.
Bitcoin enters the room.
That’s actually the point. You want scarcity with a currency, when the supply is arbitrary you get a conflict of interest with the parties who control issuance, and all kinds of problems with economic planning. Currency denotes real life value, not unlimited virtual value. That’s why most NFT applications are stupid.
Except it’s inherently heavily deflationary.
It’s a currency that no one wants to use as a currency because the price is too volatile.
What is deflationary? Basically every crypto has a different issuance algorithm. None of them are “inherently” deflationary or inflationary, assuming you mean “deflation” in terms of price vs. other goods, and not supply terms.
Everyone else leaves the room.
Yep.
People underestimate this effect in Bitcoin communities.
There aren’t more people discussing the drawbacks because those of us who know better already gave a warning, and we no longer care if it’s heeded.
Like most tech, there’s a use. And like a lot of tech, there’s a lot of scammers out there over promising things it will never do.