[CHART] Bitcoin Inflation vs. Time

[whitslack]

Captain Jean-Luc Picard: The economics of the future are somewhat different. You see, money doesn't exist in the 24th century.
Lily Sloane: No money? You mean, you don't get paid?
Captain Jean-Luc Picard: The acquisition of wealth is no longer the driving force of our lives. We work to better ourselves and the rest of humanity.

Even in the post-scarcity United Federation of Planets, there is still a scarcity of time, which cannot simply be replicated. Joseph Sisko only serves so many meals each day and only has so many tables at Sisko's Creole Kitchen in New Orleans. If you want a reservation there, you may have to part with something dear to you in exchange for it. It may not be money — it may be your time or a product of your unique talents — but it's still trade, commerce. There is still scarcity in that world. You will never go hungry, but not everyone gets a starship.

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[ZephramC]

Captain Jean-Luc Picard: The economics of the future are somewhat different. You see, money doesn't exist in the 24th century.
Lily Sloane: No money? You mean, you don't get paid?
Captain Jean-Luc Picard: The acquisition of wealth is no longer the driving force of our lives. We work to better ourselves and the rest of humanity.

Even in the post-scarcity United Federation of Planets, there is still a scarcity of time, which cannot simply be replicated. Joseph Sisko only serves so many meals each day and only has so many tables at Sisko's Creole Kitchen in New Orleans. If you want a reservation there, you may have to part with something dear to you in exchange for it. It may not be money — it may be your time or a product of your unique talents — but it's still trade, commerce. There is still scarcity in that world. You will never go hungry, but not everyone gets a starship.

And also people are scare. Lets say everyone want to be treted by Beverly Crusher (hey, she is one of the best doctors in the Federation!). But there is only one Beverly Crusher.
And land is scare. There are still wars for territory.

[hilogogifts@gmail.com]

yes, it works , in China too.

[brush242]

Captain Jean-Luc Picard: The economics of the future are somewhat different. You see, money doesn't exist in the 24th century.
Lily Sloane: No money? You mean, you don't get paid?
Captain Jean-Luc Picard: The acquisition of wealth is no longer the driving force of our lives. We work to better ourselves and the rest of humanity.

Even in the post-scarcity United Federation of Planets, there is still a scarcity of time, which cannot simply be replicated. Joseph Sisko only serves so many meals each day and only has so many tables at Sisko's Creole Kitchen in New Orleans. If you want a reservation there, you may have to part with something dear to you in exchange for it. It may not be money — it may be your time or a product of your unique talents — but it's still trade, commerce. There is still scarcity in that world. You will never go hungry, but not everyone gets a starship.

And also people are scare. Lets say everyone want to be treted by Beverly Crusher (hey, she is one of the best doctors in the Federation!). But there is only one Beverly Crusher.
And land is scare. There are still wars for territory.

Not anymore they don't. No sir!

[ZephramC]

Captain Jean-Luc Picard: The economics of the future are somewhat different. You see, money doesn't exist in the 24th century.
Lily Sloane: No money? You mean, you don't get paid?
Captain Jean-Luc Picard: The acquisition of wealth is no longer the driving force of our lives. We work to better ourselves and the rest of humanity.

Even in the post-scarcity United Federation of Planets, there is still a scarcity of time, which cannot simply be replicated. Joseph Sisko only serves so many meals each day and only has so many tables at Sisko's Creole Kitchen in New Orleans. If you want a reservation there, you may have to part with something dear to you in exchange for it. It may not be money — it may be your time or a product of your unique talents — but it's still trade, commerce. There is still scarcity in that world. You will never go hungry, but not everyone gets a starship.

And also people are scare. Lets say everyone want to be treted by Beverly Crusher (hey, she is one of the best doctors in the Federation!). But there is only one Beverly Crusher.
And land is scare. There are still wars for territory.

Not anymore they don't. No sir!

I mean... interspecies wars. Not within UFP.

[Hunterbunter]

Cool chart...is there something new here? or just mapped in an easy to see way?

[marcus1986]

thanks for graphs, usefull.

+1. Thanks.

[BitOnyx]

This future inflation rate is rather confusing since it is not exactly stable change rate. How can you determine future sudden change while the value and moment of change can't be predicted by trend or past changes in any way. Unless there is possibility for it.

[LMGTFY]

This future inflation rate is rather confusing since it is not exactly stable change rate. How can you determine future sudden change while the value and moment of change can't be predicted by trend or past changes in any way. Unless there is possibility for it.

I'm not sure I understand your question? We know when the changes will occur (well, we know how many blocks need to be generated before the block reward changes), and we know by how much the reward will change. We're currently at 289227 blocks and the reward is 25BTC; the graphs show that at 420000 blocks this will change to 12.5BTC.

We don't know exactly when the 420000 blocks point will be reached, but the block reward changes roughly every four years. And, of course, as the point approaches we'll be able to it by monitoring the block count.

[bcmine]

The non existance inflation in the bitcoin is a problem, which was solved with the dogecoin. Inflation is necessary, so people spend the bitcoins in investing and not keeping it without use. Giving interest to the people, when they deside to borrow it, so other can invest and not keeping it under the pillow again. I guess the transactions will be made with Altcoins - anyway, because they are faster...

[ZephramC]

The non existance inflation in the bitcoin is a problem for some people, which was solved with several altcoins in the past years the dogecoin. Some believe that price Inflation is necessary, so people spend the bitcoins altcoins in investing and not keeping it without use. Giving interest to the people, when they deside to borrow it, so other can invest and not keeping it under the pillow again. I guess some of the transactions will be made with Altcoins - anyway, because they are faster to confirm, although not faster to safely confirm...

What about these corrections?

[tamxa]

Anyway Its cool charts!

[Fachten]

Thx for the great info!

[d2dtk]

Very good chart! Hopefully it will be used more once the inflation value rises again.

[ns12123]

Hey man, this is really nice charts ! Thanks

[billysweird]

My statements are compatible with deflation.

I sell something today at price A, because I had to buy material/components which costed x,y and z and I added my profit (or added value) Q. Therefore A=x+y+z+Q

In a month I sell something at, say, A'=A-15/100*A. I had to buy material which costed, FIFTEEN days before I selle, x'=x-20/100*x , y'=y-20/100*y, z'=z-20/100*z, and I added value Q'=Q+somePercentage/100*Q, so that A'= x'+y'+z' + Q'.

In fact, I sell at a lower prince (which can be defined as defaltion), but I still earn MORE.

I think deflation will make us all richer, apart from politicians and their lacché that will lose a lot of their privileges.

Best regards,
billysweird

[Jacksquere]

Verry cool charts man ..

[dwolfx]

in 2030 we will have non-monetary society.. and therefore there will be no inflation.. 

Which, of course, is completely untrue. Everything is scarce, therefore there will always be inflation.

Captain Jean-Luc Picard: The economics of the future are somewhat different. You see, money doesn't exist in the 24th century.
Lily Sloane: No money? You mean, you don't get paid?
Captain Jean-Luc Picard: The acquisition of wealth is no longer the driving force of our lives. We work to better ourselves and the rest of humanity.

Pure ignorance and stupidity.

The only way such a utopia would be possible is if , humanity discovered some new safe abundant energy source.
At which point wealth becomes abundant.

With an almost unlimited source of energy, humanity has no cap on how much
-Food it could produce
-Energy used per individual

Wealth for an individual is directly proportional to how much energy they can afford to consume.

As technology becomes more energy efficient and we get closer and closer to newer forms of energy (fusion, thorium reactors etc.) we get closer to a day where every human being on the planet can have access to abundant wealth.

At which point the concept of money becomes trivial at best, it wont go away, there will always be value for scarce things of use.... but the need for it will certainly decrease as time goes on.

[painlord2k]

https://docs.google.com/spreadsheet/ccc?key=0AnWZ8CNHuTE3dGo3RTBoSHdvQnZsZkpZdHB1ZUhQLWc&usp=sharing

I, with help, compiled a chart with actual data about Bitcoin actual inflation rate and compared this with data about the M0 (currency) and M1 data published by the Federal Reserve.

[brush242]

At which point the concept of money becomes trivial at best, it wont go away, there will always be value for scarce things of use.... but the need for it will certainly decrease as time goes on.

That discussion is a bit beyond this particular thread, but market forces WILL ALWAYS dictate the value of scarce things (nearly everything). The only way your scenario can happen is if each human being can create this energy (mindpower x chi' + crystals^2, or something) for nothing, because there will always be original capital costs.

Truly infinite energy? Wow. No idea what happens then. All bets are off. I still think my comment above won't change. 8^]