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Bitcoin can inflate. It's just that in order to change the current agreement on what Bitcoin is and how it works, you need a majority of mining power to agree,
by vvillena 4y ago
Bitcoin can inflate. It's just that in order to change the current agreement on what Bitcoin is and how it works, you need a majority of mining power to agree, but the Bitcoin community has been famously conservative and unwilling to any kind of change. The reason? Probably a small amount of fear, and a huge investment in ASICs that would not be able to work if Bitcoin changes.
- gbear605 4y agoAlso the Bitcoin community is, almost by definition, made up of people holding a lot of Bitcoin. They have a strong financial incentive to make sure that it deflates instead of inflates so that each Bitcoin becomes worth more over time instead of less.