Bitcoin-Gambit worth 1 million USD of the former CTO of Coinbase, Balaji Srinivasan, triggers hyperinflation debate

Der frühere CTO von Coinbase, Balaji Srinivasan, wettete, dass Bitcoin in etwa 90 Tagen 1 Million Dollar oder einen Gewinn von 3.600 % innerhalb der nächsten drei Monate erreichen würde, was seine Vorhersage über die rasche Abwertung des US-Dollars im gleichen Zeitraum untermauerte. Die mutige Wette hat erhebliche Anklang gefunden, aber einige der prominentesten Stimmen der Krypto machten deutlich, dass sie Srinivasans Einstellung nicht zugeben. Hyperinflation weniger wahrscheinlich Dies ist nicht das erste Mal, dass Srinivasan eine kontroverse Erklärung in Bezug auf Krypto abgibt. Saifedean Ammous hält ein solches Szenario für unrealistisch. Der Autor des Bitcoin-Standards behauptete, dass selbst wenn …
The former CTO of Coinbase, Balaji Srinivasan, bet that Bitcoin would achieve $ 1 million or a profit of $ 3,600 % within the next three months in about 90 days, which underpinned its prediction through the rapid devaluation of the US dollar in the same period. The brave bet has found considerable appeal, but some of the most prominent voices of the crypto made it clear that they did not admit Srinivasan's attitude. Hyperinflation less likely This is not the first time that Srinivasan gives a controversial explanation in terms of crypto. Saifedean Ammous considers such a scenario unrealistic. The author of the Bitcoin standard claimed that even if ...
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The former CTO of Coinbase, Balaji Srinivasan, bet that Bitcoin would achieve $ 1 million or a profit of $ 3,600 % within the next three months, which underpinned its prediction through the rapid devaluation of the US dollar in the same period.

The brave bet has been significantly well received, but some of the most prominent voices of the crypto made it clear that they did not admit Srinivasan's attitude.

hyperinflation less likely

This is not the first time that Srinivasan gives a controversial explanation in terms of crypto. Saifedean Ammous considers such a scenario unrealistic. The author of the Bitcoin standard claimed that even if the extent of the banking crisis claimed by Srinivasan, it was still deflationary.

The economist continued explain that the amount of money goes decreased if a bank is decreasing. So if all banks go bankrupt, then "a large part of the money supply will be destroyed, which would make hyperinflation less likely, not more likely."

Ammous said that the central banks would print in response and thereby bring about price inflation, but a case of hyperinflation could not occur in such a short time.

"The hyperinflation is always driven by increasing the money supply, and if you save every single bank insertion, it would not keep the money supply constant. Yes, you will probably be more than printing to finance higher expenses for political purposes, but you would need an incredibly large amount of printing to bring about a hyperinflation in three months, and the history provides a lot of evidence in three months for that. "

Ammous also rejected Srinivasan's examples of hyperinflation that show that inflation can speed up quickly in just three months. According to the author, all hyperinflations occurred after a relatively slow start at the end of hyperinflation periods.

1 million dollar bet

Srinivasan's bet was an answer to the pseudonymous financial expert James Medlock, who placed a bet of $ 1 million that the country would not experience any hyperinflation despite the ongoing banking crisis.

srinivasan, on the other hand, explained that the current banking situation was similar to the 2008 financial crisis. He also argued that the central bankers, banks and supervisory authorities "lied to all dollar owners and inserters at that time". On the same day, the American entrepreneur also set $ 1 million with another nameless person. If he loses, the two would receive USD 1 million in circles USDC stable.

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Der frühere CTO von Coinbase, Balaji Srinivasan, wettete, dass Bitcoin in etwa 90 Tagen 1 Million Dollar oder einen Gewinn von 3.600 % innerhalb der nächsten drei Monate erreichen würde, was seine Vorhersage über die rasche Abwertung des US-Dollars im gleichen Zeitraum untermauerte. Die mutige Wette hat erhebliche Anklang gefunden, aber einige der prominentesten Stimmen der Krypto machten deutlich, dass sie Srinivasans Einstellung nicht zugeben. Hyperinflation weniger wahrscheinlich Dies ist nicht das erste Mal, dass Srinivasan eine kontroverse Erklärung in Bezug auf Krypto abgibt. Saifedean Ammous hält ein solches Szenario für unrealistisch. Der Autor des Bitcoin-Standards behauptete, dass selbst wenn …
The former CTO of Coinbase, Balaji Srinivasan, bet that Bitcoin would achieve $ 1 million or a profit of $ 3,600 % within the next three months in about 90 days, which underpinned its prediction through the rapid devaluation of the US dollar in the same period. The brave bet has found considerable appeal, but some of the most prominent voices of the crypto made it clear that they did not admit Srinivasan's attitude. Hyperinflation less likely This is not the first time that Srinivasan gives a controversial explanation in terms of crypto. Saifedean Ammous considers such a scenario unrealistic. The author of the Bitcoin standard claimed that even if ...

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