And when they do, they fail at their job as a currency, because in that instance they are a poor store of value.
But no major world currency in the last thirty years has fluctuated like Bitcoin has in the last thirty days. Not the yen, the euro, the yuan, the dollar. For lesser currencies that have, it's wreaked havoc on their respective economies, proving that these kinds of fluctuations are undesirable.
Crypto currency is a great idea. Getting rid of central control is fantastic, because a rogue central bank is a real risk to a stable currency. But why cripple it with a design that can't succeed as a stable store of value because of its relatively fixed supply? I get that we don't want someone pulling the levers, but couldn't it algorithmically expand in relation to economic activity, such as transaction volume?
I just hear a lot of people who seem to be speaking their book instead of addressing real weaknesses that, to me, seem unnecessary to the intrinsic value of a cryptocurrency.
