Post
Topic
Board Bitcoin Discussion
Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
by
VeritasSapere
on 28/12/2015, 15:10:14 UTC

Economists who think money supply must be inflated are not trusting the free market as do the small blockists regarding the blocksize.

So it's you who shouldn't be here, if you don't trust the free market and love when the settings of the monetary system lie on the decisions of few people you can already use fiat.

You can trust the free market and fork to whatever chain you like, but then it is exactly the inflation that you are against, do you see the contradiction here?

In fact, the day you fork your coin and set up your exchange, you will face millions of pre-fork coins dumped on your exchanges, then your coin on that fork will worth basically nothing. This is the result of free market forking, and exactly because of this result, you are not free to fork as you wish, that's why I say that your freedom here are heavily limited by your economic incentive
I think that it is unlikely that Bitcoin would split because of this, however I do think that we should also accept this as a possibility and a feature of the the freedom of choice. This is what solves the problem of tyranny of the majority and guarantees our right to self determination. I think that you are wrong in seeing this as a form of inflation however, in the same sense that the existence of the Zimbabwe dollar does not make the US dollar more inflationary, or another example might be the existence of alternative cryptocurrencies, altcoins do not make Bitcoin more inflationary.

I also think that you are wrong in thinking that we are not free to fork because of economic incentive, quite the opposite actually, it is this economic incentive which will actually incentivize a fork, since increasing the throughput of the Bitcoin blockchain increases its utility and therefore also its value.