![]() And easier to ship to the opposite side of the planet at the push of a button. Easier than a bunch of gold coins, anyway. Hint: Deflation and Inflation are two very different things in particular, deflation is not the opposite of inflation (although you can't have both deflation and inflation simultaneously-you get one disease or the other).īitcoin is designed to be verifiable (forgery-resistant) but pretty much untraceable, and very easy to hide. Less money chasing stuff less cash for everybody to spend (as the supply of stuff out-grows the supply of money). This means the the cost of generating new Bitcoins rises over time, so that the value of Bitcoins rise relative to the available goods and services in the market. There is an upper limit on the number of bitcoins that can ever be created ('mined', in the jargon: new bitcoins are created by carrying out mathematical operations which become progressively harder as the bitcoin space is explored-like calculating ever-larger prime numbers, they get further apart). Our current global system is pretty crap, but I submit that Bitcoin is worst.įor starters, BtC is inherently deflationary. Decisions we take about how to manage money, taxation, and the economy have consequences: by its consequences you may judge a finance system. Like all currency systems, Bitcoin comes with an implicit political agenda attached. ![]()
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