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RE: Can governments and central banks crush Bitcoin

in #bitcoin7 years ago (edited)

Not sure how to quote a part from the post here yet. I think that as far as centralized cryptocurrencies from national banks go, people will figure out fairly quickly their inflationary nature. Just consider the first two questions every noob buying crypto today asks:

“What is the supply?” “Is it limited or not?”

In fact just yesterday I was reading a discussion on the Iota tangle technology in some forum I happened to stumble upon (I can’t even remember its name now, but I can find out if anyone is interested), where someone asked if infinite scalability meant that the coin supply was infinite. This clearly shows that the person in question has no understanding whatsoever of the technology involved and is fairly new to the game. Yet, the first thing he or she has learned is that unlimited supply leads to inflation.

This, interestingly, is one of the greatest side-effects of the Bitcoin revolution (for as much as I despise such hype or buzz words). In opening up investment opportunities to just about anyone, it has also forced everyone to learn in order to understand the market they are investing in—a field of action that until now has remained esoteric and incomprehensible to the average person, who, in order to engage at all with it, needed the council of its high priest, the financial advisor. This is not to say that the average person completely understands it now, but that at the very least, she has begun to take a more active interest instead of leaving herself totally helpless in the hands of a “trusted” party.

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Yes Bitcoin has created a wave of people who have begun to take interest in technology and financial independence. None- the-less, most of the average Joes will only wake up when they feel the pain of hyperinflation...situation not far off

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