Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
Hopalong
on 14/09/2015, 11:16:58 UTC
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.

Gold and silver has been the most trusted currency for a long time and it is inflationary. There will always be a supply of new gold and silver. Unlike fiat there is nobody that can manipulate the inflation of gold and silver.

A crypto could have a built in inflation that simulated gold and silver.