Ask HN: What prevents an infinite supply of crypto?
New cryptocurrencies are created everyday, and by design there's nothing that can stop them being traded among each other. Doesn't that create an infinite supply of crypto?
The real economic keys to the crypto marketplace are concentrated in the "exchanges".
Exchanges are market makers who set prices for crypto but in some cases they are also engaged in minting new crypto --- an inherent conflict of interest and incredible opportunity for manipulation that undermines the integrity of the entire crypto marketplace in my opinion.
Who made or enforces that rule?
They can do whatever they want --- even collude with one another at will. They are completely unregulated opaque black boxes.