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Bitcoin Forum > Economy > Economics > What's stopping deflationary increase in value?
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horrorshow (OP)
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June 17, 2011, 09:49:50 PM
 #1
When I got started with mining, it seemed like it was going nowhere but up. Now it seems headed in the opposite direction. I thought this currency was supposed to gain value, not lose it? Is it not becoming rarer, and thus more valuable?
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June 17, 2011, 10:00:53 PM
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What's stopping that global warming?  It was 50 degrees on Monday, in June!
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ron
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June 17, 2011, 10:56:07 PM
 #3
Quote from: horrorshow on June 17, 2011, 09:49:50 PM
When I got started with mining, it seemed like it was going nowhere but up. Now it seems headed in the opposite direction. I thought this currency was supposed to gain value, not lose it? Is it not becoming rarer, and thus more valuable?

Oh boy  Roll Eyes


Bitcoin is 15x higher then it was 2 months ago. People are so short sighed.
horrorshow (OP)
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June 18, 2011, 12:06:54 AM
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Yes, but they are more difficult to mine and unfortunately I missed this easy mining bandwagon...I have 15 btc to my name
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June 18, 2011, 12:27:24 AM
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Bitcoin is not deflationary.  Bitcoin will be inflationary for about two decades.  Currently the inflation rate is about 16% (someone correct me if I am wrong), which is pretty high.  It it were just a question of inflation/deflation we would expect bitcoin to gradually drop in absolute value.  However inflation/deflation is not anywhere close to being the main cause of bitcoin price fluctuations.  Right now the number of people involved with bitcoin and their predictions for its future are the main causes of price flux.
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June 18, 2011, 01:49:59 AM
 #6
Quote from: horrorshow on June 18, 2011, 12:06:54 AM
Yes, but they are more difficult to mine and unfortunately I missed this easy mining bandwagon...I have 15 btc to my name

If price keeps dropping miners will drop out and the difficulty will drop.
 
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