Bitcoin as a solution to inflation
When I was a child, a long time ago, there was one book in our house we always deferred to for knowledge. It was primarily a dictionary, published in London during the nineteen-twenties. It included sections of weights and measures, told us about perches and jeroboams as well as giving us the correct forms of address should we wish to write to a Cardinal or an Ambassador. It also included rates of currency exchange. A Pound (Sterling) was worth four Dollars (US). Changes in this rate were not foreseen to be a big problem and for that matter neither was inflation. Picture by Bank of....
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As global inflation rumors continue to circulate, debates rage on both inside and outside of the decentralized finance space on whether Bitcoin is the answer. Inflation is a buzzword penetrating the finance world, both traditional and decentralized. International leaders continue to debate whether current circumstances can be deemed a recession. While financial industry experts ponder a solution to the situation.As cryptocurrencies continue to become regulated, adopted and pushed into mainstream view, questions as to whether digital currencies such as Bitcoin (BTC) are the answer.In the....
As political leaders in crisis-hit Lebanon bicker over positions in the yet-to-be-formed government, the country’s runaway inflation rate surged to 211% in May 2022, new data has shown. Economist Steve Hanke insists that a currency board is a solution to Lebanon’s currency woes. Black Market in Fuel Driving Inflation The inflation rate in crisis-torn Lebanon surged to 211% in May, making it the 23rd consecutive time the consumer price index (CPI) has surged, a report has said. The revelation of the latest inflation figure comes as the country’s politicians reportedly....
Whenever you hear, "That currency is not backed by anything!," it's almost always meant as criticism. Hard-money enthusiasts are quick to point out the horrible track record of fiat currency. Nearly without fail, currencies "backed by nothing" get heavily devalued through inflation, and they often collapse within decades. The best solution, so far, has been to tie currency to a commodity whose supply can not be arbitrarily inflated by governments or central banks, or to use that commodity directly as a currency. Gold and silver have served this purpose best, and they have been used....
Emercoin, a shared ledger platform and cryptocurrency which combines POS + POW algorithms to process transactions on its blockchain has announced the launch of a solution called “Transaction Optimizer,” to reduce the inflation of the blockchain network. If popular wallet platforms successfully integrate the technology of Emercoin, it could substantially decrease the inflation of blocks and eliminate the need to switch to a hard fork. Emercoin, a shared ledger platform and cryptocurrency which combines POS + POW algorithms to process transactions on its blockchain has announced the launch....
U.S. City Mayor Scott Conger recently posted on Twitter his belief that Bitcoin will fix inflation. His tweet which called out the U.S. federal government consisted of a couple of questions for the government regarding inflation. And then ended with there being only one fix for inflation. Bitcoin. It’s no secret that the inflation rate […]