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2516246 No.2516246 [Reply] [Original]

Would someone care to explain to me how the generation of altcoins using blockchain technology IS NOT a form of inflation in relation to Bitcoin?

The original idea of Bitcoin is that it's supposed to be resistant to inflation because it keeps track of the money, but altcoins are just the generation of more Bitcoin systems in a sense, right?

>> No.2516258

>>2516246
you're fucking retarded

>> No.2516288

>>2516258
typical. but you didn't explain.

The only way I can interpret how altcoins are not like the printing of money is if Bitcoin works to consume Altcoins, eventually making them worthless.

This is in relation to someone saying (a few days ago) that Altcoins have yet to "boom" and make their profits.

>> No.2516456
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2516456

>The only way I can interpret how altcoins are not like the printing of money is if Bitcoin works to consume Altcoins, eventually making them worthless.

>> No.2516513

>>2516288
Altcoin is like printing a new currency with a specific purpose. Inflation like what the (((central banks))) are doing is literally devaluating people's holding. This can not happen with bitcoin. The value of my bitcoins doesnt automatically go down because some retard creats Bitbean. But if retard banks create money my money goes down in value.

>> No.2516523

>>2516456

So, are you implying that since Bitcoin was around before the generation of various altcoins that Bitcoin is essentially buying out various altcoins and working toward shutting them down so that Bitcoin reigns supreme?

>> No.2516563

>>2516523
90 % of altcoins dont even try to directly compete with Bitcoin. The only serious direct competition is Litecoin, all others have specific other purposes like privacy or specific uses within closed ecosystems.

>> No.2516576

>>2516513

I would think its value would go down because it has to compete against Bitbean.

>> No.2516690

>>2516246
altcoins are independent. bitcoin can die off and another crypto can take its place. i don't understand what you're asking. if people like and trust the technology, they will store their money on there. if they don't, they won't. if someone comes up with a bitcoin clone it has literally no effect on how much bitcoin is there.

volatility comes from the fact that bitcoin is treated like an investment rather than a currency. it has no practical uses right now. there are no cryptos that provide a service or product yet beyond the gimmick of trading for something else. the technology is at least 5 or 10 years away from appropriate implementation to bank systems, payroll, taxes etc. and only small countries can implement it that fast. you're talking about boatloads of regulatory obstacles and stress testing.

>> No.2516705

>>2516246
Bitcoin wasn't created to be resistant to inflation. Hell, the very concept requires Bitcoins to be created via mining so more enter circulation. So long as new Bitcoins are generated, it's inflating. The problem is schmucks like you think inflation is bad when what you want is controlled inflation that is neither too high nor too low, as the purpose of money is to facilitate trade, which it fails to do if everyone is holding because it's value keeps going up or down too fast.

Hell, we see it now. No one buys bitcoin to buy shit, they buy it to speculate, or to facilitate illicit activites, and those days are numbered because other coins do it better.