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fubarobfusco comments on Less Wrong used to like Bitcoin before it was cool. Time for a revisit? - Less Wrong
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Comments (67)
Doesn't regular money have this same problem?
Sure, in a sense; but merchants don't really have a meaningful choice of whether to accept it. BTC is new.
Well the problem is arguably worse with regular money since the number of bitcoins that will ever exist is limited, whereas with regular money governments can, and sometimes do, print arbitrarily large quantities.