Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Divitiae miserae
on 14/09/2015, 08:42:56 UTC
Quote from: Norway on September 14, 2015, 08:02:19 AM
Quote from: yefi on September 14, 2015, 02:17:14 AM
Quote from: JorgeStolfi on September 13, 2015, 02:00:53 AM
Economists have know for 500 years that a currency must have some inflation, otherwise people will hoard it and it will not be available for use as a currency.  

During the past 500 years, there were long periods of effectively zero inflation where economies boomed. In the industrial revolution in Britain, for example.

Also, I don't think there was such a thing as an economist 500 years ago.

Gold and silver coins kept the price for a pint steady as a rock for hundreds of years.

So steady
Until 1900: gold/silver standard. 1900-1933: gold standard.