Deflation vs Inflation - Currency vs Commodity
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Fundamental missunderstanding of infinity.
Infinity by division is different than infinity by extent. Zeno has way too much to answer for.
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They seemed to miss the basic fact that with a alt coin being “deflationary” (fixed in quantity) that no one party can just flood the market place with freshly created supply (created out of thin air)! A pretty important point if you ask me, but hey, what do I know?
peace
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[quote name=“jti8899” post=“57142” timestamp=“1391566855”]
They seemed to miss the basic fact that with a alt coin being “deflationary” (fixed in quantity) that no one party can just flood the market place with freshly created supply (created out of thin air)! A pretty important point if you ask me, but hey, what do I know?peace
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[/quote]+1 rep.
He’s got a great point. So long as the rate is steady, the currency isn’t inflationary. Inflation is very specifically “a persistent increase in the general price level of goods and services in an economy over a period of time”. One way that happens is the market is unexpectedly flooded with additional currency devaluing the existing currency in circulation. James Angel NAILED it in the article:
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As long as it’s at a steady and predictable rate, you would want that inflation rate to more or less match the growth of the global economy.
[/quote]What he actually meant is you want a ‘coin generation rate’ that more or less matches the growth of the global economy. So long as that’s happening, there’s no reason to expect inflation.