Post
Topic
Board Economics
Re: The Supply of Bitcoin Is Limited. The Supply of Cryptos Isn't!
by
BobK71
on 09/10/2017, 16:44:34 UTC

So, I'm still thinking that gold and silver, whose scarcity is secured by physics, rather than computer code, are the superior forms of money for improving our freedom from governments and bankers.

Just not this part. I'd say they are far less practical to use as currency, but unlike crypto or fiat they have true inherent value.

I'm not sure there's such a thing as freedom in this world, at least not while one is to live in society.

With both cryptos and precious metals, what we're really looking for is a store of value.  It's really not desirable, if possible at all, to use a distributed ledger based system as a means of exchange for everyday purchases, with every transaction verified and recorded on every copy of the ledger.

In fact, precious metals would be a better means of exchange, a role they served for thousands of years.  The reason they don't serve it any more is the same reason marijuana has been illegal until very recently: even though an artificial product has many side effects, the natural product gives less profit to the government and corporate elites.

We're not going to get total freedom or total slavery.  The reality will be somewhere in between.  Exactly what it will be like, is up to what we do and what we understand.