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by matheusmoreira 1492 days ago
Finite supply doesn't even matter anymore since exchanges are now operating like banks with fractional reserves, loans and everything. Through credit they can inflate away the value of cryptocurrencies as much as they want. The entire financial system was reinvented on top of bitcoin, it's the worst possible outcome.
2 comments

> entire financial system was reinvented on top of bitcoin

You can build shit on top of anything. But you can't build anything worthwhile on top of shit. Bitcoin at least has a solid, extractable, base.

You just put your finger on what has been frustrating me and cryptocurrency for the past few years, thank you