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by PretzelPirate 1607 days ago
The concept of Cryptocurrencies doesn’t prohibit the arbitrary creation of new coins, that’s just an implementation details of most of the popular ones. Even Bitcoin could have allowed for Satoshi to create new coins on a whim, but that wasn’t Satoshi’s goal.

A government could create a cryptocurrency where they control inflation.

1 comments

Any additional cryptocurrency is already inflation.
That's not the definition of inflation. Inflation is the reduction of buying power via the creation of additional units.

Cryptocurrency is a word used to describe a class of assets, each protocol/network being its own asset.

Given that cryptocurrency is usually open source and forkable, there are unlimited amount of "currencies". I can literally register 100 domains and fork 100 variations of bitcoin to create 100 new unique projects. That doesn't mean I've inflated anything at all. 1 dogecoin is not 1 bitcoin.