i thought Bitcoin was bad b/c its a deflationary currency, rising in value with time, thus encouraging hoarding?
now Bitcoin is bad b/c its an inflationary currency, dropping in value with time, thus encouraging selling?
Bitcoin is intrinsically a deflationary currency. That caused hoarding, which caused a bubble, which inevitably leads to a blowoff. That's fun for experienced investors and traders, but the whole cycle is bad for what I want: something stable enough to use as a transactional currency.
The strong scent of pyramid is driving away the people we need to adopt it to start growing an economy.