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Author Topic: 21m bitcoin limit?  (Read 1228 times)
Zango
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June 02, 2011, 09:37:54 PM
 #1

I've read a lot about bitcoins and how they supposedly suffer major deflation when they reach 21 million in count.
Please, if any, link me to some standard English site describing this. I can't find any information comprehensible for noobs like myself.

1 bitcoin today would be worth 0.000001 bitcoin then?
How does this even work? I don't get it. Everything has to be changed the way I see it. Or I'm wrong and this is not how it will turn out. Please let me know.
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hazek
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June 02, 2011, 10:10:00 PM
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It's very simple.

Prices for anything are determined through supply and demand. Since the supply of Bitcoins is fixed it will only come down to the demand and if we assume the demand is going to always grow because of more people using it then pricess of Bitcoins is also going to always rise. Rising price of Bitcoins means falling prices of goods and services offered for Bitcoins.

And that's it.

My personality type: INTJ - please forgive my weaknesses (Not naturally in tune with others feelings; may be insensitive at times, tend to respond to conflict with logic and reason, tend to believe I'm always right)

If however you enjoyed my post: 15j781DjuJeVsZgYbDVt2NZsGrWKRWFHpp
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