That's another problem of the centralized face all of you are backing: The speaker has no clue of the subject he's talking about.
Look his answer about the false bitcoin deflation problem:
Now all the newcomers are going to find this kind of answers in your foundation-honeypot instead of someone really formed and pedagogical like, for example, Death and Taxes here.
Look his answer about the false bitcoin deflation problem:
Quote
"So, this is the Paul Krugman complaint -- a deflationary currency does not encourage velocity.
That seems like a fair complaint to me, in general. In practice, and as opposed to Krugman's thoughts on the matter, we have many thousands of happy Bitcoin transactors, I think people like to spend their bitcoins with others, give them away, and use them for things.
So, practically, there are other psychological factors at work than just your concerns.
I do know some Bitcoin businesses that try never to spend their coins. That said, we have had some periods like last year where EVERYBODY wished they'd spent their coins..
To my mind volatility is a worse 'evil' than being deflationary. As I said above, I think most government economists wish an inflationary currency (and many bitcoiners hate this, and talk a lot about how much they hate it), but I think there's definitely a place in the world for a deflationary value system.
An interesting thought experiment for you -- if you forked the Bitcoin blockchain and changed issuance so that it tracked say, USD or USD/EUR inflation rates for issuance, would it have the same uptake or not?"
That seems like a fair complaint to me, in general. In practice, and as opposed to Krugman's thoughts on the matter, we have many thousands of happy Bitcoin transactors, I think people like to spend their bitcoins with others, give them away, and use them for things.
So, practically, there are other psychological factors at work than just your concerns.
I do know some Bitcoin businesses that try never to spend their coins. That said, we have had some periods like last year where EVERYBODY wished they'd spent their coins..
To my mind volatility is a worse 'evil' than being deflationary. As I said above, I think most government economists wish an inflationary currency (and many bitcoiners hate this, and talk a lot about how much they hate it), but I think there's definitely a place in the world for a deflationary value system.
An interesting thought experiment for you -- if you forked the Bitcoin blockchain and changed issuance so that it tracked say, USD or USD/EUR inflation rates for issuance, would it have the same uptake or not?"
Now all the newcomers are going to find this kind of answers in your foundation-honeypot instead of someone really formed and pedagogical like, for example, Death and Taxes here.
What part are you critizising?
