Post
Topic
Board Economics
Re: USD vs BTC
by
deisik
on 26/08/2016, 19:26:53 UTC
USD still popular over high popular is compare bitcoin
you wrong is compare, maybe compare dollar paypal , dollar perfectmoney dollar okpay is right placed compare
is comare USD not equal, USD real curency in the world , bitcoin digital curency

I have no idea what you are trying to say but for me I think USD is still better currency in compare to bitcoin as it can be used anywhere to buy anything.
it is not a better currency at all, bitcoins are the best because they are not controled by any banks or other financial institutions

But Bitcoin is essentially controlled by major mining pools now. They seem not to exercise their power (at least, openly), but apart from that, they are just like any other financial institution which has control over money (the US dollar or whatever)...

So what's the difference really?

The difference is that USD is privately issued.  Therefore USD issuers can issue any amount at any time, at no cost to the issuer, and we the people have no way to know or verify that it happened

Isn't this exactly what control over money means? Indeed, if an entity that grabbed control over Bitcoin would try to hit hard, it would almost certainly fail. For example, if it had decided to cancel halving (the hypothetical event much talked about before the recent halving), it would have brought down the wrath of regular bitcoiners most likely ending up nowhere. But this doesn't in the least prevent such an entity from acting in ways which are more subtle...

But which could potentially be no less destructive in the long run than the plain old rampant printing of money, Zimbabwean style