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Posted on 3/12/13 at 1:37 pm to Broke
quote:
Explain how you believe this is inflation free. Forever.
There will never be more than 21,000,000 bitcoins. Ever. This is built into the protocol and enforced by every participant of the network. If someone attempts to change that, bitcoin will not change, they will only succeed in creating a "fork," which will essentially be a completely different currency. And since no one will be accepting that new currency, it will be worth zero.
quote:
We have that already no?
I guess. If you consider other fiats competition. I say there is a market for a bitcoin type currency.
It's ok if you don't value bitcoin. You don't have to. But many people do, and it's currently exchanging at $45.59.
This post was edited on 3/12/13 at 1:39 pm
Posted on 3/12/13 at 1:38 pm to Broke
quote:
Explain how you believe this is inflation free. Forever.
They limit it's growth. So if it gains acceptance it will deflate. That's why it is the perfect ponzi scheme. "get in early or you are going have to pay more later." As there are very few legal transactions taking place that use bitcoins, that quote is why most have joined.
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