Bitcoin’s boom is a boon for extremist groups

washingtonpost.com

9 points·wgyn··7 comments

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What a nonsense article. They may as well say that the recent US stock market boom is a boon to extremists also.

Replace Bitcoin with any other commodity/security and this article is pure fluff.

Bitcoin is supposed to be a currency.

From the little I have read, a healthy economy means a small amount of inflation.

Given that bitcoins are limited, it is impossible to have inflation.

How can we then say that Bitcoin is s good candidate for currency?

Bitcoin is deflationary by nature. One of the problems with it (scalability aside) is that who would want to spend an asset which keeps increasing in value?

So now Bitcoin is seen as more of a store of value. Which it actually seems to work pretty well for. A bit expensive to move around (but still, $20 is cheap compared to most value stores like land or gold).

>> Bitcoin is supposed to be a currency.

not really. it's a "...peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution..." according to Satoshi himself.

Doesn't Bitcoin have inflation of 12.5 coins every 10 minutes at the moment? So you can't strictly say there is no inflation.

economy != currency

An economy built exclusively on bitcoin without other currencies would indeed fail to achieve a healthy 2-3% yearly inflation rate. But apples and oranges.

You mean to say bitcoin is not a good choice as the primary currency of an economy?

What’s its use case then?

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