What about the idea of an inflationary bitcoin? - page 2.

tee-rex

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Quote from: tmobileguy on July 05, 2014, 06:09:41 AM

-Inflation would be just under 1% (bitcoins released minus the bitcoins that were lost in the system) which I think would be a solid stable economic number to promote responsible spending...

At first it was clear that under inflation you meant here money supply, then you mentioned "a solid stable economic number to promote responsible spending", and this obviously referred to price inflation. You shouldn't mix these two notions since they are neither synonymous nor interchangeable. You may have a positive money supply (more money entering circulation) while the currency may still be appreciating and vice versa.

hmmkay

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Many coins will be lost forever by people dying without finding the keys, or simply losing the keys (Karpeles?).
I'd imagine a very slow and controlled inflation once we hit the wall of 21 million.

devphp

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Quote from: Justine on July 06, 2014, 10:28:39 AM

The value increasing 1% a month is same as adding the money supply 1% a month.

No. What you refer to is the price of Bitcoin going up, because fiat is inflationary and people buy more goods and services trying to get rid of inflationary fiat, thus fiat inflation is reflected in the price of goods and services, including Bitcoin. But Bitcoin itself functions as money, the inflation of Bitcoin as money is being discussed here.

Justine

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The value increasing 1% a month is same as adding the money supply 1% a month.

EternalWingsofGod

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Quote from: devphp on July 06, 2014, 03:07:44 AM

Bitcoin will be a heck of inflationary for the next 5 years as is.

it's interesting that many people think short-term (what the price in fiat USD will be next month, next year at most), but at the same time look many years ahead to a far-away cap of 21 million, forgetting that Bitcoin has a double-digit yearly inflation right now and will continue to have it for the next 5 years. The brain conveniently suggests ideas to believe that they can be most comfortable with.

This is true bitcoin is very inflationary
For a few more halvings at least
https://en.bitcoin.it/wiki/Controlled_supply

devphp

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Bitcoin will be a heck of inflationary for the next 5 years as is.

it's interesting that many people think short-term (what the price in fiat USD will be next month, next year at most), but at the same time look many years ahead to a far-away cap of 21 million, forgetting that Bitcoin has a double-digit yearly inflation right now and will continue to have it for the next 5 years. The brain conveniently suggests ideas to believe that they can be most comfortable with.

silversurfer1958

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Even though most are scam coins, if they have money in them, they are worth mining and selling.

SirChiko

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Quote from: Este Nuno on July 05, 2014, 02:06:16 PM

Quote from: SirChiko on July 05, 2014, 01:51:39 PM

Quote from: Este Nuno on July 05, 2014, 01:23:39 PM

Quote from: SirChiko on July 05, 2014, 01:09:24 PM

Quote from: Este Nuno on July 05, 2014, 12:19:00 PM

Quote from: SirChiko on July 05, 2014, 12:09:30 PM

Quote from: Este Nuno on July 05, 2014, 12:06:20 PM

There are altcoins that are Proof of Stake which give interest on held coins that is similar to inflation. 2-3% per year given in stake forging rewards. That seems to be a big trend in the altcoin market.

Trend =/= value and success in any way. It's just an popular experiment.

Some of them seem pretty valuable and successful so far. Just from looking at their market caps anyway. I don't own any altcoins at the moment.

By my opinion 98% of their value is fake as they have no real value or purpose sadly, developers are only trying get-rich-fast scheme or some scam ones.

Sure there are tons and tons of bad coins and scam coins, but the ones that have worth a lot are worth a lot precisely because the devs aren't just trying to get rich fast and dump them.

I agree that few of them really look promising, but you never know what may happen and after reaching nice price dev gets his hidden wallet out and dumps milions worth of coins...and ta-daaa game over.

I think these days people are pretty meticulous when their analysing the code base to find any little surprises like that the dev might have left in. Although it definitely happens. Even the exchanges themselves are looking over the codebase before listing coins these days.

It isn't just about the code as the coin may get instamined as i've heard about darkcoin for example.

Este Nuno

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amarha

Quote from: SirChiko on July 05, 2014, 01:51:39 PM

Quote from: Este Nuno on July 05, 2014, 01:23:39 PM

Quote from: SirChiko on July 05, 2014, 01:09:24 PM

Quote from: Este Nuno on July 05, 2014, 12:19:00 PM

Quote from: SirChiko on July 05, 2014, 12:09:30 PM

Quote from: Este Nuno on July 05, 2014, 12:06:20 PM

There are altcoins that are Proof of Stake which give interest on held coins that is similar to inflation. 2-3% per year given in stake forging rewards. That seems to be a big trend in the altcoin market.

Trend =/= value and success in any way. It's just an popular experiment.

Some of them seem pretty valuable and successful so far. Just from looking at their market caps anyway. I don't own any altcoins at the moment.

By my opinion 98% of their value is fake as they have no real value or purpose sadly, developers are only trying get-rich-fast scheme or some scam ones.

Sure there are tons and tons of bad coins and scam coins, but the ones that have worth a lot are worth a lot precisely because the devs aren't just trying to get rich fast and dump them.

I agree that few of them really look promising, but you never know what may happen and after reaching nice price dev gets his hidden wallet out and dumps milions worth of coins...and ta-daaa game over.

I think these days people are pretty meticulous when their analysing the code base to find any little surprises like that the dev might have left in. Although it definitely happens. Even the exchanges themselves are looking over the codebase before listing coins these days.

SirChiko

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Quote from: Este Nuno on July 05, 2014, 01:23:39 PM

Quote from: SirChiko on July 05, 2014, 01:09:24 PM

Quote from: Este Nuno on July 05, 2014, 12:19:00 PM

Quote from: SirChiko on July 05, 2014, 12:09:30 PM

Quote from: Este Nuno on July 05, 2014, 12:06:20 PM

There are altcoins that are Proof of Stake which give interest on held coins that is similar to inflation. 2-3% per year given in stake forging rewards. That seems to be a big trend in the altcoin market.

Trend =/= value and success in any way. It's just an popular experiment.

Some of them seem pretty valuable and successful so far. Just from looking at their market caps anyway. I don't own any altcoins at the moment.

By my opinion 98% of their value is fake as they have no real value or purpose sadly, developers are only trying get-rich-fast scheme or some scam ones.

Sure there are tons and tons of bad coins and scam coins, but the ones that have worth a lot are worth a lot precisely because the devs aren't just trying to get rich fast and dump them.

I agree that few of them really look promising, but you never know what may happen and after reaching nice price dev gets his hidden wallet out and dumps milions worth of coins...and ta-daaa game over.

silversurfer1958

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Activity: 474

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Why would you want a coin that loses purchasing power over time.
Surely a deflationary coin, like Bitcoin is best because it increases in purchasing power over time.

Este Nuno

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amarha

Quote from: SirChiko on July 05, 2014, 01:09:24 PM

Quote from: Este Nuno on July 05, 2014, 12:19:00 PM

Quote from: SirChiko on July 05, 2014, 12:09:30 PM

Quote from: Este Nuno on July 05, 2014, 12:06:20 PM

There are altcoins that are Proof of Stake which give interest on held coins that is similar to inflation. 2-3% per year given in stake forging rewards. That seems to be a big trend in the altcoin market.

Trend =/= value and success in any way. It's just an popular experiment.

Some of them seem pretty valuable and successful so far. Just from looking at their market caps anyway. I don't own any altcoins at the moment.

By my opinion 98% of their value is fake as they have no real value or purpose sadly, developers are only trying get-rich-fast scheme or some scam ones.

Sure there are tons and tons of bad coins and scam coins, but the ones that have worth a lot are worth a lot precisely because the devs aren't just trying to get rich fast and dump them.

SirChiko

legendary

Activity: 966

Merit: 1000

Quote from: Este Nuno on July 05, 2014, 12:19:00 PM

Quote from: SirChiko on July 05, 2014, 12:09:30 PM

Quote from: Este Nuno on July 05, 2014, 12:06:20 PM

There are altcoins that are Proof of Stake which give interest on held coins that is similar to inflation. 2-3% per year given in stake forging rewards. That seems to be a big trend in the altcoin market.

Trend =/= value and success in any way. It's just an popular experiment.

Some of them seem pretty valuable and successful so far. Just from looking at their market caps anyway. I don't own any altcoins at the moment.

By my opinion 98% of their value is fake as they have no real value or purpose sadly, developers are only trying get-rich-fast scheme or some scam ones.

Este Nuno

legendary

Activity: 826

Merit: 1002

amarha

Quote from: SirChiko on July 05, 2014, 12:09:30 PM

Quote from: Este Nuno on July 05, 2014, 12:06:20 PM

There are altcoins that are Proof of Stake which give interest on held coins that is similar to inflation. 2-3% per year given in stake forging rewards. That seems to be a big trend in the altcoin market.

Trend =/= value and success in any way. It's just an popular experiment.

Some of them seem pretty valuable and successful so far. Just from looking at their market caps anyway. I don't own any altcoins at the moment.

SirChiko

legendary

Activity: 966

Merit: 1000

Quote from: Este Nuno on July 05, 2014, 12:06:20 PM

There are altcoins that are Proof of Stake which give interest on held coins that is similar to inflation. 2-3% per year given in stake forging rewards. That seems to be a big trend in the altcoin market.

Trend =/= value and success in any way. It's just an popular experiment.

Este Nuno

legendary

Activity: 826

Merit: 1002

amarha

There are altcoins that are Proof of Stake which give interest on held coins that is similar to inflation. 2-3% per year given in stake forging rewards. That seems to be a big trend in the altcoin market.

twiifm

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Thats similar to Milton Friedmans idea. He wanted a computer to set the inflation at a constant 3%

Erdogan

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Quote from: tmobileguy on July 05, 2014, 07:44:44 AM

Quote from: Erdogan on July 05, 2014, 07:32:51 AM

If the inflation is mathematically defined, it will only make it more difficult to calculate. There is no point in it.

Why would it be difficult to calculate...

Year 1 - 21,000,000 + 210,000 (1%) = 21,210,000BTC
Year 2 - 21,210,000 + 212,100 (1%) = 21,422,100BTC
Year 3 - 21,422,100 + 214,221 (1%) = 21,636,321BTC

And I just did that brilliant math without a calculator

Isn't this even simpler:

Year 1 - 21,000,000 + 0 (0%) = 21,000,000BTC
Year 2 - 21,000,000 + 0 (0%) = 21,000,000BTC
Year 3 - 21,000,000 + 0 (0%) = 21,000,000BTC

tmobileguy

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Quote from: Erdogan on July 05, 2014, 07:32:51 AM

If the inflation is mathematically defined, it will only make it more difficult to calculate. There is no point in it.

Why would it be difficult to calculate...

Year 1 - 21,000,000 + 210,000 (1%) = 21,210,000BTC
Year 2 - 21,210,000 + 212,100 (1%) = 21,422,100BTC
Year 3 - 21,422,100 + 214,221 (1%) = 21,636,321BTC

And I just did that brilliant math without a calculator

Erdogan

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Activity: 1512

Merit: 1005

If the inflation is mathematically defined, it will only make it more difficult to calculate. There is no point in it.

Topic: What about the idea of an inflationary bitcoin? - page 2. (Read 3181 times)