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by pjc50
2839 days ago
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> the money supply inflates around ~10% per year, whereas most crypto will inflate <1% long term. Money supply is not the same thing as inflation! Inflation is an aggregate measure of the level of prices and wages, and since almost all crypto transactions are pegged to fixed underlying USD values while the crypto price level floats, it's not at all possible to say that the purchasing power of crypto varies. You've been lead astray by the virtual goldbugs. (Also, Apple etc are not going to get on board with a system that doesn't support refunds by design, and the most likely attack on PoW is declaring that it's the biggest environmental threat since tetraethyl lead or CFCs and putting a global ban on participating in it) |
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Understood; I wasn't trying to say anything about spending power. I like to talk about inflation of money supplies since it sheds light on raw monetary policy. CPI metrics are more meaningful for some purposes, like retirement planning, but it didn't seem useful to me in this context.
> Apple etc are not going to get on board with a system that doesn't support refunds by design
You could be right. At least Apple/Google haven't banned crypto wallets from their app stores, so I think there's a chance. And there's talk about some phone vendors potentially shipping crypto wallets [1].
[1] https://insights.samsung.com/2018/07/02/why-smartphones-have...