laboon
Lecture 19: Inflation Proof
Bitcoin is said to be inflation proof, as only 21 million bitcoin will ever be mined. However, as more people adopt bitcoin, how will potential forking effect its value. I would assume, as more and more hard forks happen, it could lead to a drop in price across the board for all of the "child" cryptocurrencies, as well as the core bitcoin itself. Although I admittedly do not know enough about economics to argue either side well. But it is an interesting topic to discuss.
The concept is further discuss here:
https://www.msn.com/en-us/money/savingandinvesting/5-reasons-cryptocurrency-prices-are-plunging-again/ar-BBQ0gIC
The new forks have not altered the original Bitcoin. But they have created chaos in the trading markets, as exchanges struggle to define which coin customers are trading. The battles have also raised questions about one of the fundamental attractions of cryptocurrencies: their apparent scarcity.
The creator of Bitcoin said only 21 million Bitcoins would ever be created. But how scarce do those 21 million Bitcoins seem if there are also 21 million tokens of each new copycat?