Deflation and hoarding are non-issues:
Bitcoin and the Virtue of Hoarding and Deflation
http://economicsandliberty.wordpress.com/2011/06/10/bitcoin-and-the-virtue-of-hoarding-and-deflation/
In Defense of Deflation
http://mises.org/daily/4623
Topic: Techreview : Bitcoins are not a currency with horders - page 2. (Read 2332 times)
hero member
Activity: 836
Merit: 1007
"How do you eat an elephant? One bit at a time..."
Lol, yeah, things that no one wants to keep are super valuable.
That's the blessing and the curse of this... if everyone keeps hording them and not spending them on stuff.. it's not a currency it's a speculator market .... if people start spending them then of course it becomes a currency.
It's up to the bitcoin community on how it proceeds.... in my opinion it needs to turn into a useful currency or else it becomes tulip mania.
http://en.wikipedia.org/wiki/Tulip_mania
Lol, yeah, things that no one wants to keep are super valuable.
The bitcoin, a virtual medium of exchange, could be a real alternative to government-issued money—but only if it survives hoarding by speculators.
http://www.technologyreview.com/computing/38392/?p1=Mag_story1
http://www.technologyreview.com/computing/38392/?p1=Mag_story1
Jump to: