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by mteam88 895 days ago
?

Are you aware of the point of a decentralized blockchain? Of a permissionless system? Bitcoin is both. Anyone (with access to texting) can buy + use bitcoin. That is about as permissionless as you can get.

"use it wisely" ??? What does this even mean? I don't think anyone actually thinks of large bitcoin holders as "the very, very few who can use it wisely."

PS. Bitcoin is not deflationary, it inflates at <2% per year and will continue to inflate until it reaches the 21 million cap. It will never deflate. Ethereum is roughly deflationary. [0]

[0] https://ultrasound.money/ (toggle BTC supply on + view a longer time frame)
1 comments
isthatafact 894 days ago
Given that bitcoin gets unrecoverably lost, and that more than 90% of it has already been mined, is it not inherently deflationary?

20% of all bitcoin made through 2019 had supposedly already been lost: https://www.investopedia.com/news/20-all-btc-lost-unrecovera...

Maybe the loss rate has decreased, but it seems like the amount of circulating bitcoin can only go down over time.

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mteam88 894 days ago
Lost/burned tokens are not included in deflation calculations. We don't include lost dollars in the USD inflation calculation (afaik). The amount of circulating Bitcoin in circulation increases due to mining rewards.

Losing/burning coins should also become less notable over time as more people use better Bitcoin storage options, it's not built in to the protocol.

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