Quote:
Originally Posted by Monotony
Bitcoins are finite. Once the 21 million is reached, they will ONLY rise in value.
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The same amount of money for more goods means that the prices of the goods will decrease.
http://en.wikipedia.org/wiki/Deflation
"don't spend your money, keep it, it will increase in value"
--> it would kill an economy based on economic growth
http://en.wikipedia.org/wiki/Deflati...side_deflation
A money like that is not made to be used, it is made to be kept and you don't use a money that needs to be kept.
Problem: does the bitcoins have an intrinsic value (like drug, tabacco, alcohol or the metal of your coins ?) No...
So what's the value of a money that you don't use ? not much.
Well yes, you could buy some bitcoins after the next crash, for $5 each and wait until there is fools again...
Also more people are mining and less people will win... so it's even not the good moment to start mining....