2013-04-02 Bitcoin is in hyperdeflation

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Topic: 2013-04-02 Bitcoin is in hyperdeflation (Read 1171 times)

m1bxd (OP)

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2013-04-02 Bitcoin is in hyperdeflation

April 03, 2013, 06:45:57 AM

Bitcoin is in hyperdeflation
Bubble or not, the underpinnings of Bitcoin pose problems to its use as a popular currency.

http://www.newstatesman.com/economics/2013/04/bitcoin-hyperdeflation

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It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.

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m1bxd (OP)

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Re: 2013-04-02 Bitcoin is in hyperdeflation

April 03, 2013, 06:58:19 AM

Quote from: m1bxd on April 03, 2013, 06:45:57 AM

Bitcoin is in hyperdeflation
Bubble or not, the underpinnings of Bitcoin pose problems to its use as a popular currency.

http://www.newstatesman.com/economics/2013/04/bitcoin-hyperdeflation

Wow reading the Bitcoin communities comments are a fantastic defense of BTC!

Wekkel

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Re: 2013-04-02 Bitcoin is in hyperdeflation

April 03, 2013, 07:23:17 AM

BTC is not perfect, but it beats everything in terms of control and Word Wide payments. Not recognising this is bad judgement. And yes, fiat and the regular banking system will keep on playing a role. That's nothing to worry about.