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I am not seeing the deflationary part. They just split it and created twice as much Bitcoin and Bitcoin cash. There is a new Bitcoin like currency minted every

I am not seeing the deflationary part. They just split it and created twice as much Bitcoin and Bitcoin cash. There is a new Bitcoin like currency minted every 5 minutes. It is far cheaper to create digital currencies than paper money and far easier to steal. I think it is a delusion. That is not to say the technology cannot be useful. It has a lot of problems. Wait for Bitcoin 2.0 You think he is planning on having to leave the country? How would he have time. The average CEO is working 80Hrs per week. Much more than their over paid thralls. He is CEO of 2 companies. That is 160Hrs per week. Plus the 10 day silent meditation retreats. You guys do not realize the excruciating demands placed on todays CEO's. They truly are our modern hero's. He should be given his own reality show.

arcticbull 8y ago
Yeah, (a) in totality, Bitcoin is still being mined and therefore inflating, at a rate of 3.81% per annum at the moment meaning the BTC inflation rate today is approximately double the US dollar. Obviously that's slated to change, but it's definitely not true now. It's been inflating massively all these years and yet its' value is still going up; fascinating. Almost like inflation isn't a bad thing? (b) The effective inflation rate is massively negative because everyone keeps losing their keys. A friend asked me re: Satoshi "If he didn't believe in what he built and the future, why isn't he moving his genesis coins? What kind of man would do that?" My answer was: "the kind of man who lost his keys." (c) The inflation rate of the crypto space in totality to your point is astronomical, since anyone can just fork a currency, give a few tokens to some promoters/shills/exchanges, get listed, and boom, that's a dump-truck of sweet sweet crypto. (d) I'd watch the hell out of the Jack Dorsey reality TV series.
LyndsySimon 8y ago
> They just split it and created twice as much Bitcoin and Bitcoin cash. Not really - Bitcoin Cash is an entirely different "currency", that shares the history of Bitcoin up to the point where it forked. > You think he is planning on having to leave the country? I seriously doubt it. $10k / week for Jack Dorsey is a reasonable amount to use as a hedge against Bitcoin going exponential again. If it does, he's even richer. If it doesn't? Meh, so what. It's "only" $520k / year, and it's unlikely to lose all of its value anyhow.
- strangattractor 8y ago
  So you are saying that if I owned a bitcoin before the split worth X and owned a bitcoin and bitcoin cash worth X + Y after the split that is not identical printing money. If the US made dollarsPlus and gave you one for every dollar you currently have and said you can spend them just like dollars. That is a different currency and would not be inflationary I suppose.

arcticbull 8y ago

Yeah, (a) in totality, Bitcoin is still being mined and therefore inflating, at a rate of 3.81% per annum at the moment meaning the BTC inflation rate today is approximately double the US dollar. Obviously that's slated to change, but it's definitely not true now. It's been inflating massively all these years and yet its' value is still going up; fascinating. Almost like inflation isn't a bad thing? (b) The effective inflation rate is massively negative because everyone keeps losing their keys. A friend asked me re: Satoshi "If he didn't believe in what he built and the future, why isn't he moving his genesis coins? What kind of man would do that?" My answer was: "the kind of man who lost his keys." (c) The inflation rate of the crypto space in totality to your point is astronomical, since anyone can just fork a currency, give a few tokens to some promoters/shills/exchanges, get listed, and boom, that's a dump-truck of sweet sweet crypto. (d) I'd watch the hell out of the Jack Dorsey reality TV series.

LyndsySimon 8y ago

> They just split it and created twice as much Bitcoin and Bitcoin cash. Not really - Bitcoin Cash is an entirely different "currency", that shares the history of Bitcoin up to the point where it forked. > You think he is planning on having to leave the country? I seriously doubt it. $10k / week for Jack Dorsey is a reasonable amount to use as a hedge against Bitcoin going exponential again. If it does, he's even richer. If it doesn't? Meh, so what. It's "only" $520k / year, and it's unlikely to lose all of its value anyhow.

strangattractor 8y ago
So you are saying that if I owned a bitcoin before the split worth X and owned a bitcoin and bitcoin cash worth X + Y after the split that is not identical printing money. If the US made dollarsPlus and gave you one for every dollar you currently have and said you can spend them just like dollars. That is a different currency and would not be inflationary I suppose.