Quote:
Originally Posted by pornmasta
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.... |
this is where i don't think it's accurate, or maybe fair is the better word, to describe btc in terms of deflation. there is no accounting attached to it, no price of goods or services is tied directly to it, even at silkroad, things are in dollars with the btc equivalent next to that.
i agree too, now is not a good time to start mining.