Matthew O’Brien, a renowned American author, and journalist for The Atlantic described Bitcoin as a “tech stock,” claiming that its volatility rate doesn’t represent a legitimate currency. O’Brien wrote: “Bitcoin has a massive deflationary bias. Its money supply is mostly fixed, but the menu of things it can buy is growing. The same ... Matthew O’Brien of The Atlantic argues that because of Bitcoin’s fixed ceiling, it has a deflationary bias. As the amount of things Bitcoins can be used to buy increases, the value of each coin also increases. Each coin should be able to buy more goods in the future than it can today, the opposite of how currencies usually work. So why spend it now when you can use it buy much more at a ... Connecting People through News. All-you-can-read digital newsstand with thousands of the world’s most popular newspapers and magazines. Vast selection of top stories in full-content format available for free. Matthew O'Brien. February 5, 2014 . Link Copied. Reuters. Nerds love Bitcoin, and they think you should too. Actually, they think you will. They think it's the payments system, if not the currency ... Matthew O'Brien. The Atlantic . November 21, 2013 ... The key, though, is that mining for more of the virtual currency doesn't create more of it. That's because there's a predetermined number of ...
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