Topic: Completely steady and constant rate of inflation (John Nash) (Read 151 times)
I'm tired of hearing about this bitflate over and over again, you are just trying to promote the project, let go if the project is very good it will advertise itself, stop forcing people to invest in your project
OP, why are you continuously shilling Bitflate on the econ board? Too bad actually because this is a legit econ topic if you didn't shill your altcoin.
Okay, back to the topic. Nash has basically examined two groups of money, i.e., "good money" and "bad money." tl;dr gold and bitcoin is good money, fiat is bad money. So what's the point of creating more bad money just like fiat? Do you agree about "bad money is better than good money?" (Nash, 2002).
Okay, back to the topic. Nash has basically examined two groups of money, i.e., "good money" and "bad money." tl;dr gold and bitcoin is good money, fiat is bad money. So what's the point of creating more bad money just like fiat? Do you agree about "bad money is better than good money?" (Nash, 2002).
I've developed Bitflate, a cryptocurrency with constant inflation. It will inflate at 7% per year.
I recently came across Ideal Money, an article from John Nash.
https://www.jstor.org/stable/1061553?seq=1#page_scan_tab_contents
In the article, there's a similar idea: "But, simply to improve the conditions under which agreements regarding long-term lending and borrowing would be made, a money would be more or less equivalently good if it had a completely steady and constant rate of inflation. Then this inflation rate could be added to all lending and borrowing contracts."
John Nash lecture was in 2001, prior to cryptocurrency. This idea is similar to what I'm pursuing with Bitflate. But I think there's a difference between low rate and high rate. With low rate, a currency will behave like a Store of Value. This happens to gold and Bitcoin. With high rate, a currency will behave like transaction money.
I wonder how we would interpret Nash's view in cryptocurrency context.
I recently came across Ideal Money, an article from John Nash.
https://www.jstor.org/stable/1061553?seq=1#page_scan_tab_contents
In the article, there's a similar idea: "But, simply to improve the conditions under which agreements regarding long-term lending and borrowing would be made, a money would be more or less equivalently good if it had a completely steady and constant rate of inflation. Then this inflation rate could be added to all lending and borrowing contracts."
John Nash lecture was in 2001, prior to cryptocurrency. This idea is similar to what I'm pursuing with Bitflate. But I think there's a difference between low rate and high rate. With low rate, a currency will behave like a Store of Value. This happens to gold and Bitcoin. With high rate, a currency will behave like transaction money.
I wonder how we would interpret Nash's view in cryptocurrency context.
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