Bitcoin, despite being a market leader, faces challenges as a daily payment currency due to its lack of purchasing power stability. Stablecoins have risen in its place. Coinbase's CEO, Brian Armstrong, has proposed "Flatcoin," aiming for stability by tracking the Consumer Price Index without being pegged to fiat currencies.
This move highlights Bitcoin's failure to address supply adjustment and maintain purchasing power. However, Flatcoin faces challenges, including centralized execution and data manipulation risks. The article explores whether stability, like that of gold, can be achieved with a currency supply adjustment mechanism similar to Bitcoin's cost mechanism.
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