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Flatcoin: Coinbase's Vision for Purchasing Power Stability in Cryptoby@kenyou
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Flatcoin: Coinbase's Vision for Purchasing Power Stability in Crypto

by Ken You6mSeptember 22nd, 2023
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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. If successful, it could create a nearly perfect cryptocurrency, combining decentralization, security, and stability, reshaping the crypto industry.

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Work for Startups | Invest Crypto| Marketing and Community Building for Open Source Projects | Solo Developer for Fun

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Ken You@kenyou
Work for Startups | Invest Crypto| Marketing and Community Building for Open Source Projects | Solo Developer for Fun

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