Comment by csense
1 day ago
If only someone invented a monetary system where the supply of money was determined by an algorithm that didn't constantly pump new money into existence all the time.
Oh wait, they did. But for some reason, most people on HN say Bitcoin is for scammers and grifters, and has no fundamental value proposition...
Bitcoin is a good store of value but unfortunately, Bitcoin doesn't scale beyond around 4 transactions per second and uses a massive amount of electricity. Also, a lot of cryptocurrencies basically turned into scams; sometimes with the backing and approval of governments.
That said, I think centralized providers acting as a layer above Bitcoin or any limited-supply crypto would still be orders of magnitude better than what we have now. Unfortunately, the boomers who benefited from the current fiat system think Bitcoin is just a fad to satisfy the fickle whims of spoiled millennials.