If the world uses bitcoin in a unified way, will the economy be more stable?

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

Quote from: gulechain on January 26, 2018, 04:09:42 AM

The total amount of bitcoin is not fixed.

just because you don't understand how amount of bitcoin is fixed and how this simple consensus rule is enforced by the decentralized network, it doesn't mean you are correct.

you have to educate yourself before making statements like this.

dicom

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Activity: 123

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Just as referees judge errors as part of sport, currency errors are also part of the economy. There is no problem of using bitcoin in a unified manner and the economy will be more stable. I think the use of bitcoin around the world will surely generate new and unknown problems.

fiulpro

hero member

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I do think that it will be more stable we are getting more options to invest our money in and that's literally an amazing thing ...it will increase the power one has over their own money ... And that's really something one should look forward to... because everything controlled by the government is not something that good at most instances ..

We will be able to ... See the big picture in reality and control ourselves and ..also it might help to decrease corruption because blockchain can be easily tracked and it could after some modifications prove to be a boon.

ommochain

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Merit: 16

As a bitcoin supporter, individuals do not think it's because all kinds of currencies have different kinds of issues, and it does not matter if bitcoin will become the world's common currency. In turn, think about this question: Is the economy now stable with the credit currency now unified in the world? There are both astronomical inflation in Zimbabwe and various currency crises in Europe and the United States. Now that the currency of credit has been kidnapped globally: either you have a bunch of currencies in your hands that have been devalued, or you're stuck in a debt economy game.

cryptorTUX

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Quote from: bunca on January 26, 2018, 04:16:40 AM

A fixed total amount means natural deflation. I think Bitcoin, a natural deflationary thing, can not be used as currency. It will exit the circulation as quickly as possible, and then people will invent other currencies.

That's why some people are referring to bitcoin as digital gold/gold standard because it goes more likely like that than to be real currency. With today's votilaty you don't even want to spend your bitcoin as tomorrow you even may pay less or more in bitcoin for the same thing.

busua

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The answer must not be. Because we must ensure that a certain amount of inflation in order to maintain the normal operation of the economy. But unfortunately, a limited number of bitcoin means that there will be no inflation. When the limit is reached, how will the economy grow?

sadacoin

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Although different currencies are used globally, there is no difference from the same currency because they can be exchanged. In the era of gold and silver, the world is also generally the same currency. Therefore, using the same currency does not result in a more stable economy. The special nature of bitcoin is limited. However, as long as there is credit, the amount of money will still increase, no different from the current currency.

asdfbna

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Activity: 97

Merit: 12

My point is negative. Sentiment and inflation taxes are one of the major national rights, all of which are endorsed by state credit and state forces. Of course, the ultimate result of the economic performance is also borne by the government. Bitcoin in the current world political system is impossible to become the world currency, it is also an asset only.

dashchain

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No, what you are experiencing is an unstable economy, and it is already the result of a tangible hand-tuning of an elite population. The means may not be perfect, but it is already working hard. Do you think even if this effort is removed, will the economy be able to run more smoothly? Market economy does not mean that everything is left to the market. As for the natural defects of bitcoin, even if the subject is updated, the total amount of bitcoin is not fixed, and it is still not feasible to increase every year. It is unrealistic not to have the right to change in the hands of nations. Responsible for the economy is the national government.

bunsd

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Activity: 102

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The total volume of Bitcoin and anarchy can indeed serve as an international settlement / credit base. However, the current characteristics of Bitcoin make me think this is unrealistic.
One is that bitcoin's plates are too small because the bitcoin design led to an excessive amount of early money and because of the anonymous transactions there is now good reason to believe that the vast majority of bitcoin is controlled by a handful of people It is conservatively estimated that at least 70% of bitcoin is directly or indirectly controlled by a handful of individuals. This makes the value of bitcoin very easy to manipulate, no one country will not allow this do not know who to control.
Second, Bitcoin transactions are not zero-cost. This is the case for bitcoin design. Each transaction involves a large amount of calculations and announcements of the entire network, all of which are costs, and these calculations constitute bitcoin transaction fees. With the depletion of the new Bitcoin issue and bitcoin deflation, transaction costs will only increase. I can hardly imagine the "currency" of a very high transaction cost that can really circulate.

CNY dasd

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Activity: 102

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I think no, if the world uses bitcoin in a unified way, the bitcoin world will come to a complete end, there is no mobile market, is it still a market? It's just a monopoly. The economy will only be under that person's control, without any freedom.

bunca

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A fixed total amount means natural deflation. I think Bitcoin, a natural deflationary thing, can not be used as currency. It will exit the circulation as quickly as possible, and then people will invent other currencies.

gulechain

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Activity: 107

Merit: 14

The total amount of bitcoin is not fixed. Bitcoin is the year of additional issuance. Nakamoto's economics may be immature, quantitative addition appears to be useless.

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