Sorry I missed the replies in this thread.
It's like they're actually trying to argue against the idea of the poor being better off which is what deflationary currencies do for us and that's just madness as far as I'm concerned.
They're also just arguing for their own continued wellbeing at the cost of ours. "Sure, keep using our continually depreciating paper! We can print more so we're ok even if you're screwed."
This summer, some of my students and I plan to brainstorm ideas to crowdfund Bitcoin startups in South Florida....If we get any traction, I'll sure to post announcements on these boards.
Do post! I'd love to hear about it.
"I'm a douchebag and your thoughts aren't made of gold like mine are."
Bitcoin scares them because it will take away their entitled lives. I hope their fear grows. It will paralyze them.
Deflationary currency wouldn't make the poor better off because by definition they are spenders, not savers.
A deflationary currency spreads wealth so the poor would be better off in the long run. An inflationary currency is designed to centralize wealth in a few hands. That's why banking classes dislike deflationary currencies.