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by atmosx 4576 days ago
I also believe that a currency must be inflationary for all the good known reasons but every time I think of BTC being inflationary I realize that Satoshi didn't really had a choice.

Why on earth you would buy an unknown inflationary currency? I mean, it would NEVER take off, except for illegal markets where use the privacy offered by a crypto-currency.

But look where we are now? Silk Road gone (well almost) but BTC unaffected and sky-rocketed. You would never have attracted that capital if you haven't a deflationary currency. Actually, by all means it's an asset.

1 comments

You've got it wrong. If Satoshi's purpose was to get people to pile in after him/them, it had to be deflationary. Mission accomplished. Bitcoin isn't a run of the mill ponzi scheme, it is a very new take on it. But it is still essentially front-running and hoping and planning that lemmings follow you to push up the price so you can then unload.