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by nonch0n 1359 days ago
The OP compares digital reality to physical reality, but digital reality exists at the behest of physical institutions that can and do limit it. There's no comparing the existence of matter and chemistry and the laws of physics with bits or bytes on our global internet infrastructure.

China has successfully limited Bitcoin with its ban. Bitcoin's value (its exchange rate with other currencies) is affected by China limiting its citizens' ability to host a node and exchange or hold Bitcoin the Chinese sovereign territory.

The author is correct that there isn't a centralized entity controlling Bitcoin as with a central bank and fiat currency, but in this case there's still a group of ISPs and governments that together can influence Bitcoin "printing" in many ways.

1 comments

They can perhaps influence its value by reducing its utility (e.g. by declaring it illegal) but they cannot "print" more supply.