On: Statement from Scarlett Johansson on the OpenAI "S...

[bavell]

> Sure, but the inability to do that when needed is also a bad thing.

When and why would BTC or ETH need to print unlimited money and devalue themselves?

[ben_w → bavell]

Wrong framing, currencies don't have agency. You should be asking when would you need your currency to be devalued, regardless of what it's called or made from.

And the answer to that is all the reasons governments do just that, except for the times where the government is being particularly stupid and doing hyperinflation.

[bavell → ben_w]

Not a very convincing answer at all.

[CRConrad → bavell]

There's a difference between the answer being unconvincing to people who understand it and not understanding the answer.

[freejazz → bavell]

Convincing to who? It's not like crypto is widely used as currency anywhere

[ben_w → bavell]

What would a convincing answer look like?

[petters → bavell]

When the economy grows, the amount of currency needs to grow as well. Otherwise prices will fall (deflation). That hurts the economy as a whole because e.g. real wages might increase too much