[jtms]

Bitcoin is deflationary by definition, not inflationary. Once the last coin is mined that's it - that's all there will ever be. I think you might have inflation and deflation backwards. Inflation can result from a large supply of currency being injected into a monetary system (ie: "bailouts"). This injection dilutes the value of all existing units of currency. This can cause prices to rise (though not always). In other words: the value of the good or service is relatively static, but the value of the money decreases due to the supply being larger. What happened in the Weimar Republic (hyperinflation) has nothing to do with Bitcoin price swings... they turned the money printers on max and diluted themselves into oblivion trying to prop up the economic machinery. This is quite the opposite of what is happening in BTC land. BTC price swings are just speculation (aka gambling with extra steps).

[arcticbull]

You're describing money supply, not inflation. Inflation is a change in purchasing power of a unit of currency, not the supply of the currency. The supply may influence its purchasing power but there's a lot more to it, obviously.

[jtms]

https://en.wikipedia.org/wiki/Inflation#Money_supply

[hanniabu]

Words have different meaning in different contexts. In blockchain, inflation refers to the emission of newly minted coin.

[arcticbull]

In economics inflation is a change in purchasing power of a currency. Words have meaning. This is what inflation means to everyone without laser eyes ;) and the word appears to have been redefined to spur unsubstantiated fear to pump bitcoin. So I suggest we all begin using the right word for the job and correcting folks who are using it wrong.

[hanniabu]

"The term is used differently in this context"

"No the context I'm used to is the only possible answer"

This combined with your mention of fear and pumping, it seems you have a heavy bias against cryptocurrencies so it's not worthwhile to continue this discussion with you.

[arcticbull]

Oh I understand the crypto communities use, I’m saying they intentionally or unintentionally chose a meaning aligned with their interests and not with reality. I will continue to call out their bad faith actions because if cryptocurrencies are to form any meaningful role in a future economic order it has to be from a position of, well, reality.

I've followed the space very closely for 6ish years now, and I've made a lot of money on crypto both long and short, and I engage with a lot of folks both online and in real life who are both pro- and anti- crypto.

However, fundamentally, I'm with Jackson Palmer.

https://twitter.com/ummjackson/status/1415353991106420741

[hanniabu]

Decreasing emission is not deflation, it's still inflation but just less of it

[mrow84]

It is deflationary, in terms of your chosen unit of exchange/account, when combined with an increase in demand, hypothetical or otherwise, that is above the rate of emission.