Hacker News new | ask | show | jobs
by tradersam 3217 days ago
> as it is inherently flawed: price fluctuate too much, and favor early owner of it.

These aren't flaws, welcome to economics, man. Once bitcoin gains enough things will be priced in BTC, so fluctuation won't be an issue.

Deflationary economics benefit the savers, while inflationary economics benefit the spenders. Just because bitcoin's economic model isn't something you're used to or like doesn't mean it is 'inherently flawed'.

1 comments

It is flawed because the pool of currency is limited. What happen when our economy grows fast, but then there's not enough BTC to support it? Price will decrease and benefit the savers, sure. But then many people will prefer to save instead of spending, which will not fuel the economy
"which will not fuel the economy"

So you mean, like, people will not waste nature's resources for things they don't really need? Oh, what a tragedy!