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... if I mention that very obvious deflationary fixed supply asset I will get downvoted into oblivion on Hacker News.
by arkona3 8y ago
... if I mention that very obvious deflationary fixed supply asset I will get downvoted into oblivion on Hacker News.
- rmrm 8y agothere seem to be a lot of variants of them, for having a fixed supply :)
- rohit2412 8y agoI think its inflationary actually (beyond the current speculation). Consider that the miners will always produce a selling pressure on cryptocurrency (because equipment+electricity+labor costs), it stands to reason that cryptocurrencies will always have more sellers than buyers (again no new speculatary buyers for store of value, just pure currency as it was intended initially). This constant selling pressure will add inflation (increasing supply, decreasing price) to Bitcoin. Actually, once a stable price is reached for a long enough time, this constant inflation should make it a viable currency, and unsuitable as a store of value.
- hvidgaard 8y agoUnless the majority of miners agree, there will never be mined more than 21 million btc, and we already know that a none trivial fraction of those coins sit in wallets that no one controls, and thus are completely out of the market.