There is this wild idea among people that inflation is bad because it always leads to price depreciation, etc. But I don't agree with this perception. Inflation is not always bad in my opinion. It's only bad when it's given to the wrong people. I'm a big advocate of the Proof-Of-Stake concept. If inflation goes to stakeholders in an equally fashioned way, then there is nothing wrong with it in my opinion. Inflation in fact is necessary in my view, to keep things going. It's only a matter of it being fair to stakeholders.
Let's take SwiftCash for example which is the crypto I have helped found and am in the process of accummulating currently. With SwiftCash, everything is ultimately 100% Proof-Of-Stake. Now before i dig into this further, let me clarify that in my view, the so-called Proof-Of-Work algorithm is a misnomer and nothing can be further from the truth. The work required in the Proof-Of-Work algorithm is not human labor but machine labor and machines can be bought and the more money/stake you have, the more machines you can buy so it's ultimately Proof-Of-Stake again. My main problem with it though is that the money spent on these machines and power bills can be better spent if invested in the ecosystem itself. Can you imagine if all the money used to mine bitcoin for example, whether the money that has gone into ASICs or whether the money that is used to pay electricity bills, had all gone into buying Bitcoin so miners could mine more Bitcoin?! That's how things are supposed to work with SwiftCash. Miners have to buy SwiftCash, instead of an ASIC, to be able to mine SwiftCash. They don't need a crazy computer or hardware.
Now back to SwiftCash which is ridiculously cheap now with a marketcap of less than 250K USD. With SwiftCash, not only Mining is Proof-Of-Stake, which means the more SWIFT you have, the more you'll be able to mine, but also the Masternode system which goes back to Proof-Of-Stake since each Masternode requires a 50K SWIFT collateral. Furthermore, the governance system in which people vote on proposals to inflate more to spend on things that can bring value to the blockchain such as development bounties, is also ultimately Proof-Of-Stake because stakeholders can simply vote no if they don't think that an idea is going to add value to the blockchain. And on top of all of these, there's also SwiftRewards which is also Proof-Of-Stake which is about rewarding holders in bear markets. So if the price of SwiftCash goes down, only those who didn't sell will be rewarded. As you can see, even in this case inflation is going to people who in my view deserve it!
So inflation is not bad in my opinion. It's only bad if it goes to the wrong people!
Let me know what you think below :]
