Also, I know Monero has adaptive block size. I was commenting that Monero still needs to hard fork to implement permanent inflation rewards, and that maybe MP will be bellyache/troll similar to how he has over increasing bitcoin block size. It's kind of a scarcity issue along the same lines I think.
Interestingly enough here's your answer:
http://log.bitcoin-assets.com/?date=27-05-2015#1146160Worth quoting because I agree with his monetary view. However, I think he is wrong with respect to a proof-of-work cryptocurrency which is not only a financial system but also a device that has the function in a certain way including mining incentives. For the later, a positive rate of inflation is superior.
fixed inflation is not fundamentally different from zero inflation just as long as the inflation is known
Fiat money has more or less fixed inflation which is done by the European Central Bank inflation targetting.
If there is an inflation rate, it really doesn't differ from fiat money (unless you do not consider a distribution mechanism which is different in crypto and the modern type of fiat money which is created in two ways: 1) by central bank the initial money supply 2) Commercial banks by credit expansion - the latter being more significiant factor).
hmmz,
I thought inflation = expanding the money supply, whatever the inflation-target is, whatever the actual rise in prices is... fiat-money has no fixed inflation, central banks can print at will as per Ben Bernanke, Mario Draghi, Kuroda, etc... Fixed inflation (as is with btc, monero... as is with gold and silver) differs a whole lot from being able to print whatever amount of currency...
fractional reserve banking with fixed-inflation-money will fail when there's a too big a bank run (the money can't be printed at will), FRB in a fiat-currency-system doesn't need to fail, the central banks can print at will...
best regards