When I read about Bitcoin and other cryptos I always read about the decentralisation.
I think I know what it means. It is not controlled by a central system deciding about all aspects of the currency.
When I translate this into simpler language : its value cannot be messed with by a central system. Even more simple : it cannot be printed at will influencing the current supply.
So when you break it down its quite simple : if we would put a cap to currencies like dollar or euro the issues would be solved ? These fiats can be perfectly used for electronical payments.
Probably I see things too simple :) ?
Decentralisation is the most important factor in crypto currency.....just imagine if bitcoin was not decentralized....the corrupt government will viciously bend it to their will as they seem fit not to talk of the effects of this which is a foreseeable decline in bitcoin price. ...the decentralized nature of bitcoin is what makes it unique and stand out from fiat currencies.
I just wonder if you limit a certain fiat currency to a certain cap is not the same effect as a decentralized crypto. Is there anything else a corrupt government can do to a currency besides printing too much
In a sense, there are already soft controls on fiat currencies - which is the fact that central banks print money at controllable rates to influence inflation rates. However, the difference is that in cryptocurrencies, these limits are intrinsic to the structure of the currency.
Indeed its in the crypto nature. My point is that it's quite simple to copy this on fiat. In short no more printing apart from replacing current supply.