[poll] Price

[molecular]

Inflation by definition is the increase of money supply

Indeed, but bitcoin is a complete other currency and a completely different type of money supply. It's more like gold than cash, so the bitcoin supply increasing by 13% pa is a very different (and less malicious) scenario from a central bank printing up 13% more money every year.

It's not the inflation per se that is Bitcoins advantage. It's the fact that the future inflation rate of the bitcoin money supply is completely known in advance and can be trusted to be executed as planned.

[nobbynobbynoob]

It's not the inflation per se that is Bitcoins advantage. It's the fact that the future inflation rate of the bitcoin money supply is completely known in advance and can be trusted to be executed as planned.

+1

Thanks molecular, this is really the crux of what I was getting at.

[420]

Inflation by definition is the increase of money supply

Indeed, but bitcoin is a complete other currency and a completely different type of money supply. It's more like gold than cash, so the bitcoin supply increasing by 13% pa is a very different (and less malicious) scenario from a central bank printing up 13% more money every year.

why's it different? because we're expending money to make that bitcoin? [like gold mining]

[notme]

Inflation by definition is the increase of money supply

Indeed, but bitcoin is a complete other currency and a completely different type of money supply. It's more like gold than cash, so the bitcoin supply increasing by 13% pa is a very different (and less malicious) scenario from a central bank printing up 13% more money every year.

why's it different? because we're expending money to make that bitcoin? [like gold mining]

Bitcoin can't be printed at a whim and given to the well connected like every other fiat currency.  The inflation rate is known long term and fairly stable short term.

[420]

Inflation by definition is the increase of money supply

Indeed, but bitcoin is a complete other currency and a completely different type of money supply. It's more like gold than cash, so the bitcoin supply increasing by 13% pa is a very different (and less malicious) scenario from a central bank printing up 13% more money every year.

why's it different? because we're expending money to make that bitcoin? [like gold mining]

Bitcoin can't be printed at a whim and given to the well connected like every other fiat currency.  The inflation rate is known long term and fairly stable short term.

you mean predictability is the argument here why it matters less that bitcoin inflation is as high as a fiat currency

[molecular]

Inflation by definition is the increase of money supply

Indeed, but bitcoin is a complete other currency and a completely different type of money supply. It's more like gold than cash, so the bitcoin supply increasing by 13% pa is a very different (and less malicious) scenario from a central bank printing up 13% more money every year.

why's it different? because we're expending money to make that bitcoin? [like gold mining]

Bitcoin can't be printed at a whim and given to the well connected like every other fiat currency.  The inflation rate is known long term and fairly stable short term.

you mean predictability is the argument here why it matters less that bitcoin inflation is as high as a fiat currency

I think that's exactly what he means and I think it's true to an extent. If bitcoin inflation was predictable, but constant (and too high), that would be bad for bitcoin. So I'd say the fact that bitcoin inflation is predictable AND monotonously decreasing is the interesting point. The currently still very high inflation is less of a concern. In easy words: you know there won't be more than 21 million, that's what counts.

[kentrolla]

i think halving day will be stable

But will December be stable?

especially end of december when remaining miners need dollars for power bills.

i don't think december will be stable. I only think today will be stable

brag quote. (:

[molecular]

i think halving day will be stable

But will December be stable?

especially end of december when remaining miners need dollars for power bills.

i don't think december will be stable. I only think today will be stable

brag quote. (:

isn't it too early to brag? Price is still stable.

[kentrolla]

i think halving day will be stable

But will December be stable?

especially end of december when remaining miners need dollars for power bills.

i don't think december will be stable. I only think today will be stable

brag quote. (:

isn't it too early to brag? Price is still stable.

well i guess its too early to brag about December being unstable. But, I think its pretty safe to say that halving day was surprisingly stable.