Alchemy!
If gold was easily made by "alchemy" or some other way (ie. nuclear transmutation, etc ...), wouldn't increasing the supply of gold just end up driving down its monetary value?
Alchemy!
If gold was easily made by "alchemy" or some other way (ie. nuclear transmutation, etc ...), wouldn't increasing the supply of gold just end up driving down its monetary value?
It would basically become "fiat" money.
Cryptocurrencies are dumb. That said, I wonder how much electricity it costs to "mine" a bitcoin...
Also deflation becomes a real threat.
What do you do when you simply have not enough gold in circulation for your economy to function?
Some people believe that. They are wrong. That has no bearings on bitcoins being a currency.Okay, the guberment is baddy-bad-bad. Got it.
And devaluation and losing a half-billion dollars of investor's cash, well, that's just an acceptable thing to avoid a few bucks in taxes and "supervision".
Maybe want to question whether that lack of supervision is all that great.
In theory, but when magic is involved, anything can happen!If gold was easily made by "alchemy" or some other way (ie. nuclear transmutation, etc ...), wouldn't increasing the supply of gold just end up driving down its monetary value?
On a gold standard, could deflation also be caused by shenanigans like somebody "cornering" the market for gold (or silver)?
Cryptocurrencies are dumb. That said, I wonder how much electricity it costs to "mine" a bitcoin...