There's one important question left to be answered. When we talk about how fiat currencies are "unstable," this simply means that there is room for instability within the structural design of fiat currencies — that governments can be corrupted and make poor financial decisions such as printing exorbitant amounts of money. But there remains a concern for instability in Bitcoin, in that the price of Bitcoin fluctuates too much for it to be used as a day-to-day currency.
Day 21: The Bitcoin Standard
Day 21: The Bitcoin Standard
Day 21: The Bitcoin Standard
There's one important question left to be answered. When we talk about how fiat currencies are "unstable," this simply means that there is room for instability within the structural design of fiat currencies — that governments can be corrupted and make poor financial decisions such as printing exorbitant amounts of money. But there remains a concern for instability in Bitcoin, in that the price of Bitcoin fluctuates too much for it to be used as a day-to-day currency.