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scohesc | 1 year ago
Correct me if I'm misguided - I'm not an economist, let alone a crypto-economist - I would assume the price of a bitcoin would go up as the mining rewards get fewer and fewer, but with Bitcoin being "tied" in a sense with traditional currencies, I wonder how much of a effect the lowering mining rewards would have compared to other global economic factors.
Is this the kind of event where investors/holders hit critical mass where they start selling off their Bitcoin, leaving a bunch of bag-holders? Or, will the idea of having scarcity keep the currency going? I somewhat understand that the USD was a gold-backed currency before, which I would think (again, not an economist), keep the value of the currency more stable, compared to the system we have now? I'm curious if there's any parallels between the old "gold standard" and limited availability of crypto like Bitcoin.
Very interesting. I've always wanted to play around with crypto stuff but haven't sat down and given it a decent go.
unknown|1 year ago
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