4 ms·
He means prices of goods and services, not the price of Bitcoins.
by endersshadow 15y ago
He means prices of goods and services, not the price of Bitcoins.
- klenwell 15y agoPrecisely. Imagine some arbitrary point in the past when Bitcoins (B) and Dollars ($) were at parity (around the time the Slashdot article appeared, IIRC). And imagine a product, widgets, that cost $10/ea. At that time: $10 -> B10 -> 1 widget Now move forward to a 10x increase in Bitcoin: $10 -> B1 -> 1 widget So the price of widgets went from B10 to B1. Deflation.