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Title: Is Bitcoin inflationary or deflationary? Post by: Elwar on April 11, 2013, 02:20:55 AM Where is Paul Krugman when we need him? Is Bitcoin still a deflationary currency?
Or will the price continue to drop like the dollar and the Bitcoin economy will flourish? Title: Re: Is Bitcoin inflationary or deflationary? Post by: BitcoinAshley on April 11, 2013, 02:38:30 AM Oh you know it will drop down to a "realistic" level like $5-6 so then people can spend it on stuff, because, you know, back when bitcoin was $5-6, people spent a lot more of it and merchant adoption was much higher. Did you hear, merchants are just canceling their Bitpay (http://blog.bitpay.com/2013/04/bitpay-eclipses-silk-road-in-bitcoin.html) accounts by the thousands, because well nobody's spending their bitcoins anymore. They're deflating so we're actually spending them less and less, the number of transactions is steadily decreasing (http://blockchain.info/charts/n-transactions).
(By the way, the bitpay link links to an article that shows that bitcoin merchant adoption is certainly not increasing at an alarming rate, and $$ bitpay sales is not also increasing at an alarming rate, and the 2nd link brings you to a chart that clearly shows number of daily transactions steadily decreasing over time. Source: Iraqi Minister of Information. The Bitcoin Economy is NOT HEALTHY! ) So, bitcoin will just go down to like $5-6 and continue inflating past that. So when they are close to $0 that is when they will stimulate the economy the most. Because, back in like 2009 when bitcoin was worth like $0.0001, it stimulated the economy much more and people spent it rather than being evil 1% hoarders that take advantage of us 99% spenders by speculation, gosh, the way everyone is using Bitcoin these days disgusts me. Nobody's spending them everyone's just being evil hoarders and speculators looking to make a quick buck, no one cares about bitcoin, whine whine whine, cry cry cry. Hey I need to clean the bugs out of my dreads while smoking pot and talking with my friends about how the financial system totally needs more regulation. Peace out. Title: Re: Is Bitcoin inflationary or deflationary? Post by: Crazy on April 11, 2013, 04:10:27 AM Bitcoin won't be deflationary for a long time.
Title: Re: Is Bitcoin inflationary or deflationary? Post by: Elwar on April 11, 2013, 04:44:28 AM Bitcoin won't be deflationary for a long time. Have you called Paul Krugman yet? Is he going to start using bitcoins now? Title: Re: Is Bitcoin inflationary or deflationary? Post by: Crazy on April 11, 2013, 04:47:46 AM Do you have a man-crush on Paul Krugman or something? wth are you going on about.
Title: Re: Is Bitcoin inflationary or deflationary? Post by: Elwar on April 11, 2013, 04:48:51 AM Do you have a man-crush on Paul Krugman or something? wth are you going on about. I figured all of the Keynesians on here spoke to him daily. Title: Re: Is Bitcoin inflationary or deflationary? Post by: Crazy on April 11, 2013, 04:51:44 AM Why would you assume anyone discussing inflation/deflation is a Keynesian?
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