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I'm referring to the real inflation of the currency: There is no mechanism for new bitcoins to be created when all blocks are confirmed. You need to create new
by oinksoft 14y ago
I'm referring to the real inflation of the currency: There is no mechanism for new bitcoins to be created when all blocks are confirmed. You need to create new currency to avoid deflation because populations grow.
- mckoss 14y agoDeflation is just another word for long periods of decreasing prices (not VALUES). What's wrong with that? Because of their infinite divisibility (it's equally easy to spend 1 millionth of a Bitcoin as it is to spend 1 Bitcoin) they do not share is the problems deflation poses to traditional money. Deflation does encourage saving over consumption, yes. But I love the fact that products in the electronics markets have had long term predictable price declines over many decades.