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Ah yes, of course, but that currency is undergoing inflation. Bitcoin is rapidly deflating. Huge difference.
by calinet6 14y ago
Ah yes, of course, but that currency is undergoing inflation. Bitcoin is rapidly deflating. Huge difference.
- miles 14y agoMy point was simply that no currency is backed by "stuff" any more. I was responding to your criticism of Bitcoin ("A currency can't make value out of nothing for long"). Of course Bitcoin is deflating - it was designed that way. And of course fiat currencies are inflating - there is no limit to how much can be printed except reason, which is apparently in short supply.