Craig Wright about hodl: "The root problem with conventio…
Craig Wright about hodl:
"The root problem with conventional currency is all the trust that’s required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust."
Replies
"...In this sense, it’s more typical of a precious metal. Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes. As the number of users grows, the value per coin increases. "
"..It has the potential for a positive feedback loop; as users increase, the value goes up, which could attract more users to take advantage of the increasing value."
"Bitcoin is a digital currency using cryptography and a distributed network to replace the need for a trusted central server. Escape the arbitrary inflation risk of centrally managed currencies! Bitcoin’s total circulation is limited to 21 million coins"
It's unclear what Satoshi was saying