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by Laforet
954 days ago
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Technical issues aside, the current crop of crypto people took the half baked Austrian school economics to their hearts, where scarcity begets value and hyper-deflation makes a desirable outcome. Satoshi invented Bitcoin as a form of protest against the prevailing economic conditions following the GFC. I don't blame Satoshi for it as he probably wasn't 100% serious about the endeavour, however the way Bitcoin (and majority of crypto that followed) is structured guaranteed that it will end up as a means for people to speculate. |
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