Post
Topic
Board Bitcoin Discussion
Re: Bitcoin's catch-22
by
chiropteran
on 16/06/2011, 16:33:28 UTC
So it's going to be the exact same system we have now, except that you can't print more Bitcoins? What makes that different from going back to the gold standard?

1) You can "print" more gold. 

2) Gold standard requires a central authority, which requires larger fees, which also creates a single point of failure