Quote from: Hydrogen on August 16, 2017, 10:48:07 PM

Quote from: realdeanz on August 15, 2017, 09:07:42 PM

Cryptocurrencies should face the same market forces.

There's a question of whether currency can gain value or be devalued through inefficient spending.

Example when new york was bought from native americans for paltry sum. Did the value of real estate diminish while the value of goods traded for new york gain value?

Another example if a government bought 200 toilet seats at a cost of $4 billion dollars, would that devalue US currency?

That could be one area where crypto retains value over other currencies, its buying/selling paradigm is more efficient and more effective than other currencies which negates the effect inflation(inefficient spending) has upon it.

I would imagine the paltry sum of money spent to purchase New York at that time was a very significant sum, which would imply the value of real estate shot up. Regarding government spending, If there is an oversupply of currency (or goods) in the market, then the value falls (supply-demand economics). In fact, less than 10% of USD's are printed and actually in circulation. Whilst I agree certain cryptos are more efficient than other currencies insofar as negating the effect of inflation is true, the fact of the matter is that the hourly fluctuations that occur trading any crypto currency is greater than a year or two's worth of inflation. Also, when the market rejects this idea of forking currencies by reducing them to junk status, the effect that would have on an overwhelming number of cryptos (in terms of uncertainty causing prices of the main currency to drop) is literally 10 times worse than years of inflation. It's interesting really.

Quote from: unholycactus on August 17, 2017, 12:00:08 AM

People can do whatever they want. Bitcoin is resilient by design and there's virtually no issues to be worried about.
The crypto market is lean and very efficient (not perfect) but it's as good as it gets.

What about all the unsustainable daily fluctuations on the value of bitcoin? I'd think that's a pressing problem if theres to be widespread adoption. Also, the absolutely inflated price of bitcoin (higher than gold and almost every commodity) , which only the elite can afford seems like another problem. The cryptosphere can be a lot more efficient. There are significant shortcoming emerging which will only get more apparent as more people adopt it and 'real' fiat starts pouring in.