Topic: [CHART] Bitcoin Inflation vs. Time - page 20. (Read 1163001 times)
Thank you for sharing this but does this graph really affect the economy of a certain country? or does this shows what will be the possible future of bitcoin? can someone explain it in a layman's term.
It is obvious that due to the type and construction of the Bitcoin system that there is no sustainable solution, without major upgrades and/or forks that can allow ten billion people use cryptocurrency in this form. That is why I think Ethereum and Tezos made a huge splash and other cryptocurrencies are bound to appear and accelerate the world towards crypto mining. So like it or not you are bound to switch your BTC to ETH sooner or later.
Actually bitcoin is dividable enough. If you divide $80T of bank deposits by 20M bitcoins, you get $4M per BTC, or $0.04 per Satoshi, and there is not much things around costing less than $0.04. The problem is how many people and for how long decide to convert their funds to BTC or any other altcoin for that matter, cause as of now bitcoins are hardly used even by 0.1% of world population. 
A clarifying note: These charts show the monetary (supply) inflation of Bitcoin. They bear no relation to price inflation, which is an entirely distinct phenomenon. When Austrian economists say "inflation," they're typically referring to monetary inflation, whereas Keynesian economists are typically referring to price inflation.
Also, please note that the top axis ("Year") on these charts is approximate, based on the scheduled block generation rate of one block per 10 minutes. The actual block generation rate has averaged a bit faster than this, due to the perpetually increasing hash rate, so we're already a little bit further progressed than the labels along the top axis would suggest. This doesn't mean there will be any more than 21M bitcoins; it only means that we'll reach the end of supply generation a little bit sooner than we would have if the hash rate had always held constant.
Bitcoin Inflation 4x3.pdf (8"×6") | Bitcoin Inflation.pdf (8½"×11")
Bitcoin Inflation logarithmic.pdf (8"×6")
Permission given to use and reproduce freely.
Also, please note that the top axis ("Year") on these charts is approximate, based on the scheduled block generation rate of one block per 10 minutes. The actual block generation rate has averaged a bit faster than this, due to the perpetually increasing hash rate, so we're already a little bit further progressed than the labels along the top axis would suggest. This doesn't mean there will be any more than 21M bitcoins; it only means that we'll reach the end of supply generation a little bit sooner than we would have if the hash rate had always held constant.
Bitcoin Inflation 4x3.pdf (8"×6") | Bitcoin Inflation.pdf (8½"×11")
Bitcoin Inflation logarithmic.pdf (8"×6")
Permission given to use and reproduce freely.
Are there any major disadvantages to having near 0 inflation?
It is obvious that due to the type and construction of the Bitcoin system that there is no sustainable solution, without major upgrades and/or forks that can allow ten billion people use cryptocurrency in this form. That is why I think Ethereum and Tezos made a huge splash and other cryptocurrencies are bound to appear and accelerate the world towards crypto mining. So like it or not you are bound to switch your BTC to ETH sooner or later.
Just do not keep all your money in crypto currencies and diversify with real staff (cause in case off massive self off their value will go to zero).
Nice graph and math. I love economics but its a difficult subject. So Bitcoin coin rises and produce inflation because of Bitcoin holders?
I think most people use bitcoin because it has existed for a long time, while bcc is new and not much demand, so in my opinion bitcoin is always on top among other coins
Hello from 2017. it's amazing that after 5 years here is still such a discussion.
True. But the graph is misleading tho. I hope someone can really post a graph that is explicitly explained and in layman's terms. That would be awesome tho.
Yeah I agree I hope someone on here can do that. It will really be beneficial to the users on here especially the newbies
Hello from 2017. it's amazing that after 5 years here is still such a discussion.
True. But the graph is misleading tho. I hope someone can really post a graph that is explicitly explained and in layman's terms. That would be awesome tho.
Hello from 2017. it's amazing that after 5 years here is still such a discussion.
This is an essential point, because the real economy has many problems due to inflation generated by central banks and banks. After the crisis of 2007 the Fiat had a inflation.
The Fed doesn't even reveal the actual values.
The Fed doesn't even reveal the actual values.
Once we have proved that cryptocurrencies do actually split, then who is to say when the next split will happen or when the next cryptocurrency will split?
This could be the end of the cryptocurrency experiment. Enjoy it while it lasts.
This could be the end of the cryptocurrency experiment. Enjoy it while it lasts.
They may split, but it's very similar to creating another altcoin, the only difference being that such an altcoin uses the same transaction history. Otherwise, we've already had many such altcoins created. In my mind, the important issue isn't whether they will split, but, practically speaking what comes of that split economically?
fair enough, but what about inflation through forks?
Currently my biggest fear. People here will argue that it is, economically judged, not inflation, but what the average person (and the journalist and the government and the bank) sees is that there are suddenly up to 42 million bitcoin, rather than 21 million.
And that is not the end of it. Once we have proved that cryptocurrencies do actually split, then who is to say when the next split will happen or when the next cryptocurrency will split?
This could be the end of the cryptocurrency experiment. Enjoy it while it lasts.
What do we do, when we won't be able to gather more bitcoins than? We will have gotten all bitcoins by the end of 2037, so what's next?
Transaction fees take over as the primary source of income to incentivise miners to secure the network.
What do we do, when we won't be able to gather more bitcoins than? We will have gotten all bitcoins by the end of 2037, so what's next?
What's more, this is the motivation behind why digital money will be the new driving type of cash later on, with bitcoins standing out! With expansion rates that way, and the swelling rate of the dollar, we are taking a gander at insane bitcoin esteems when changed over to USD in only the following 5-10 years! It's insane!
It is good know that the progress is doing well.. And im pretty sure this will last for a long period of time..
Very nice
Yep, but i don't think so that we have reached the end of the supply chain.
fair enough, but what about inflation through forks?
It's not really inflation because all current holders of the coin at the time of the fork have a unit on each branch afterwards. In that respect it is identical to a stock split, it's similar in some respects to moving a decimal place in the protocol. The total rate of inflation summing both branches afterwards due to mining does however increase.
fair enough, but what about inflation through forks?
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