[rhino369]

Bitcoin is made at will out of thin air. It's just an arbitrary amount created every day. The creation rate was just picked by whoever created it. I think it can actually be changed by concensus.

I see no reason why an arbitrary rate is better than a rate chosen to minimize inflation and deflation.

Bitcoin basically is a fiat currency, except no government forces people to use it.

[AsyncAwait]

> I see no reason why an arbitrary rate is better than a rate chosen to minimize inflation and deflation.

It's not about the rate, but about the EXACT rules being agreed upon up front by the MAJORITY of the network and actually enforced by a proven algorithm, rather than people's conscience alone.

[zajd]

The irony being if something like Fusion power happened bitcoin hyperinflation would be guaranteed.

[EdHominem]

No, the difficulty would rise but the number of "coins" created would be constant and they'd cost the same because the same dollar-value of electricity was spent generating them.

[bduerst]

Or when quantum computing breaks ECDSA and allows you to deduce Bitcoin holders' private keys.

[AsyncAwait]

Yeah, let's speculate about far-fetched hypotheticals, because flat currency is totally immune to these.

[zajd]

it's fiat, not flat

smh

[AsyncAwait]

That's what you get for relying too much on autocorrect...