Comment on SEC says it will deregulate cryptocurrencies with 'Project Crypto'
jj4211@lemmy.world 3 days agoThe reason for volatility is that any such concept at scale is subject to just the messiest lump of evolving opinions on everything. It will deflate, inflate, deflate wildly because it’s utterly subject to the whims of the people without any mechanism to counter a lack of mass consensus on what ‘value’ is.
We started noticing as things scaled up, there needed to be some regulatory management to counter the whimsical populace. Hard to fight mass inflation or deflation when you can’t do anything to manage the “money supply” to offset panic.
rottingleaf@lemmy.world 3 days ago
Well, I’ve thought of a bit of an alternative, but that’d be more like digitally assisted barter with automated haggle and escrows, than like money.