'Bitcoin: Have Incentives Gone Wrong?' bitcoin blockchain
“Peer-to Peer Electronic Cash System.”
Despite all those achievements the jury is still out as to whether it will ever become a widely used currency or fulfill the decentralization potential of blockchain technology and the associated positive societal externalities. Firstly, the embedded rarity and the fixed money supply have highly deflationary implications. Why spend now when not only the supply is capped, but supply growth is also constantly decreasing. To be a medium of exchange or unit of account, a currency supply must be adjusted so that the price of goods and services is stable over the medium to long term. This is the only way the supply and demand side of an economy can make any rational decisions.
France Dernières Nouvelles, France Actualités
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