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I love the claim that there has never been any controversial theories in biology or physics, that turned out to be wrong, or at least the wrong path. But I dig
by tatsuke95 15y ago
I love the claim that there has never been any controversial theories in biology or physics, that turned out to be wrong, or at least the wrong path. But I digress.
The author is only partially correct. The debate isn't whether inflation/deflation is good or bad. They are both, depending on where you sit. In some situations inflation is good (when you have a fixed interest rate and a pile of debt to pay off) and some times it's bad (when you have a pile of cash sitting in an account). It's the same for deflation.
I think the argument from Quora was that if you're trying to make Bitcoin a universal currency, you'll have a tough time obtaining "reach" when everyone knows there will be deflation. In other words, you know the currency you own will be able to buy more goods in the future (as it becomes relatively more scarce). So, you don't spend it.
Of course, it looks like the post explains that they just don't care. It's a technological experiment. And that's also fine.