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> While I'm on the topic, you realize that because the money supply can't be increased in any meaningful way once mining is no longer viable, prices will experi

• 001sky 13y ago
  but the data show rates of change at <orders of magnitude> in variation. that simply is the problem. its not that its accelerateing or not, simply absolute level is not consistent with any concept of a (stable) store of value. Its a false argument to think that because the asset itself is inflating it's "storing value"; the variance of returns to the asset in increasing and the volatility as a risk factor is agnostic to direction. If it were not, it would be a fault in any event because its value as an investment would (essentially) preclude its use as a currency (because the forecasting/bookeeping overhead).
• maratd 13y ago
  > Yes. I consider an annual deflation rate of 2-3% just as stable as an annual inflation rate of 2-3%. Please provide a single example of a viable currency that has deflated over a long period of time. Because bitcoin, by design, will force deflationary pricing forever. Deflation is horrible. It is much much worse than inflation and any sustained deflation destroys the economy.
  • baddox 13y ago
    > Please provide a single example of a viable currency that has deflated over a long period of time. Please provide a single example of a decentralized digital peer-to-peer payment network based on virtually fraud-immune proof of work. My point is that Bitcoin is fundamentally different than anything before it.