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I am not an economist, but I know that a deflation can be bad for the economy. People are encouraged to wait rather than spend because the price will be lower i
by goalieca 6y ago
I am not an economist, but I know that a deflation can be bad for the economy. People are encouraged to wait rather than spend because the price will be lower if you can hold out a little longer. This can become a positive feedback loop which is bad news for the economy.
I’m not sure what Bitcoin is really about, but it sure makes for good speculation and day trading.
- madmax96 6y agoThe mining reward is not intrinsic to BTC. It can be adjusted as needed (provided 51% of compute agree.)
- tromp 6y agoa majority of hashpower can enforce a softfork (tightening of rules), but has nothing to do with a hardfork (change of rules). If non-miners stick with old rules, then miners using new rules simply get ignored by everybody else.