[ExI] [mta] Re: Long Term Bitcoin Catastrophe?

[Mirco Romanato]

Il 24/05/2013 19:10, Brent Allsop ha scritto:
> All virtual currencies will always be abandoned and sold for the one
> that is deflating the most rapidly.  The fact that Bitcoin is so
> restricted is it's biggest (and only?) problem, and what will make it
> impossible for a 'better' one to replace it.

Wrong.
Bitcoin is not deflating.
Bitcoin is inflating around 12% yearly (now). The inflation will just
slow down with the time until it will reach zero.
The point is the inflation is known and unchangeable and slowly decreasing.

How could be desirable a currency with a deflation coded in?
You have some money and the system reduce the quantity of money you have
of a fixed % every year? The same % for everyone?
No one want the quantity of HIS money reduced.

The only deflation possible in Bitcoin is when coins are lost because
they are sent to wrong addresses without an owner or the owner lose the
passwords to access his coins.
If I lose my paper euro (because they burn) the loss is only mine.
Others just gain from the reduction of the money supply. My loss is
their gain.

I do not understand the "better".
Better for who?

Mirco