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Yes, inflation is the point. And inflation is quite specifically the point, to encourage people to spend money (on buying stuff, on reinvestment, on whatever),
by Frondo 12y ago
Yes, inflation is the point.
And inflation is quite specifically the point, to encourage people to spend money (on buying stuff, on reinvestment, on whatever), instead of sitting on it.
When people sit on piles of money, it doesn't do anyone any good. It's not destroying the USD to keep that money moving around the economy, it's part of its basic deal.
- bduerst 12y agoI think that's a very key point that people miss with Bitcoin. Bitcoin was designed to be a cryptocurrency that stores value, and because it is deflationary, bitcoin makes a terrible currency. The bitcoin forking scheme to fix this is controlled by people who profit from bitcoin staying deflationary.