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"its value is always expected to grow" It's value is down to about $5 from a high of about $30. The deflation argument is well argued here http://bitcoin.stac

"its value is always expected to grow" It's value is down to about $5 from a high of about $30. The deflation argument is well argued here http://bitcoin.stackexchange.com/questions/66/will-deflation-destroy-bitcoin http://bitcoin.stackexchange.com/questions/66/will-deflation... "no central authority and no convertibility" Lack of central authority is seen as a benefit to some. Also Bitcoin is convertible through numerous exchanges and has an options market https://www.bitcoinica.com/ https://www.bitcoinica.com/ "in case BitCoin start to lose it's value " Make your mind up, I though it was deflationary ? I personally see a good future for Bitcoin, it may turn out to be the first of many crypto currencies. Anyway I've based my startup on it. http://strongcoin.com http://strongcoin.com

icebraining 15y ago
Make your mind up, I though it was deflationary ? You're mixing up the concepts. Inflation makes the currency lose value, not deflation.
- dfox 15y ago
  That's his point exactly. Critics on one hand claim that bitcoin will always gain value and on the other say that you will suffer loses/not have anything of value when it loses value. These two arguments seem to be incompatible with each other.
  - icebraining 15y ago
    It's a linear argument: it won't succeed (in part) because it's designed to be deflationary, so it will fail, so it'll lose its current value. (Note: it's not my argument, I'm just trying to explain why they aren't necessarily incompatible)
    - csomar 15y ago
      If it fails it's because it has no value. If criminals need it to transfer funds (and they have quite a business), then it might make BitCoin valuable. It doesn't matter if there is a limited amount of BitCoins if the end point is to exchange them.
      - icebraining 15y ago
        (Market) value is set by how much people are willing to pay for it, so they do have value.
Estragon 15y ago
> It's value is down to about $5 Hovering around $4, lately! http://bitcoincharts.com/charts/mtgoxUSD#rg1zvztgSzm1g10zm2g25 http://bitcoincharts.com/charts/mtgoxUSD#rg1zvztgSzm1g10zm2g...

icebraining 15y ago

Make your mind up, I though it was deflationary ? You're mixing up the concepts. Inflation makes the currency lose value, not deflation.

dfox 15y ago
That's his point exactly. Critics on one hand claim that bitcoin will always gain value and on the other say that you will suffer loses/not have anything of value when it loses value. These two arguments seem to be incompatible with each other.
- icebraining 15y ago
  It's a linear argument: it won't succeed (in part) because it's designed to be deflationary, so it will fail, so it'll lose its current value. (Note: it's not my argument, I'm just trying to explain why they aren't necessarily incompatible)
  - csomar 15y ago
    If it fails it's because it has no value. If criminals need it to transfer funds (and they have quite a business), then it might make BitCoin valuable. It doesn't matter if there is a limited amount of BitCoins if the end point is to exchange them.
    - icebraining 15y ago
      (Market) value is set by how much people are willing to pay for it, so they do have value.

Estragon 15y ago

> It's value is down to about $5 Hovering around $4, lately! http://bitcoincharts.com/charts/mtgoxUSD#rg1zvztgSzm1g10zm2g25 http://bitcoincharts.com/charts/mtgoxUSD#rg1zvztgSzm1g10zm2g...