Bitcoin Forum
April 23, 2018, 12:44:48 PM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: The whole idea of the deflation aspect of bitcoins being bad because of loans..  (Read 1589 times)
notig
Sr. Member
****
Offline Offline

Activity: 294
Merit: 250


View Profile
April 13, 2013, 02:59:48 AM
 #1

is not very well thought out IMO.

 Bitcoin is a voluntary currency. Therefore it's completely open to the free market. Even if bitcoin succeeds there will still be a free market. And if people still need or want to take loans then they will use a currency that offers them the best deal. If it's not bitcoin then they will simply get loans in a currency that isn't bitcoin. There could be a new cryptocurrency created for the explicit purpose of being one where loans are given in it and it could become easily interchangeable with bitcoins through exchanges and then you could have the whole loaning aspect of our financial system which people seem to think is a great idea. No one is going to want to store their wealth in that currency though because defaulted loans would devalue your wealth unless they were somehow paid for by the interest rates from other debtors.
1524487488
Hero Member
*
Offline Offline

Posts: 1524487488

View Profile Personal Message (Offline)

Ignore
1524487488
Reply with quote  #2

1524487488
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
sounds
Full Member
***
Offline Offline

Activity: 140
Merit: 100

1221iZanNi5igK7oAA7AWmYjpsyjsRbLLZ


View Profile
April 13, 2013, 03:58:16 AM
 #2

I say the same thing, often:

If you need an inflationary currency, you sell your BTC for fiat.

Until BTC was introduced, however, there was no other choice. Now there is: if you need a deflationary currency, you sell your fiat for BTC.
MikeH
Sr. Member
****
Offline Offline

Activity: 406
Merit: 250


View Profile
April 13, 2013, 10:27:00 AM
 #3

I see no reason bitcoins can't be loaned and paid back based on the initial value of the loan adjusted by current value, inflation or deflation shouldn't matter.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!