Reply to post: "mining" cryptocurrency

ASUS smoking hashes with 19-GPU, 24,000-core motherboard

Mage Silver badge

"mining" cryptocurrency

So the Cryptocurrencies replace central banks and governments with anonymous rich people to control increase of money supply.

How is this a good idea?

Also speculators "hoarding" cryptocurrency causes same problem as cash under the mattress or in Offshore accounts to avoid tax. It reduces the amount of money in circulation available to buy & sell stuff.

Very simplistic explanations. Very introductory texts on Economics explain it better.

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