Considering that trust in government is at an all time low public blockchains pr... | Hacker News

Hacker Newsnew | past | comments | ask | show | jobs | submit

		Sevii on Aug 24, 2021 \| parent \| context \| favorite \| on: EU to make Bitcoin traceable, ban anonymous crypto... Considering that trust in government is at an all time low public blockchains provide some much needed openness. The reason we went off the gold standard is because the US government printed off more money than they had gold and then got caught. Instead of trying to make up for their crime the government decided to ban ownership of gold. Cryptocurrency doesn't have a deflationary restriction. If bitcoin is too similar to gold, people will just use some other coin.

sennight on Aug 25, 2021 [–]

The inflationary coin was tried more than once. I remember one that wasn't content with infinitely expanding the monetary base - it would delete balances at random, watching people try to defend the idea was hilarious.

Guidelines | FAQ | Lists | API | Security | Legal | Apply to YC | Contact