Quote from: CuntChocula on January 20, 2016, 12:32:35 AM

Quote from: smooth on January 20, 2016, 12:25:33 AM

Quote from: CuntChocula on January 20, 2016, 12:13:35 AM

Quote from: smooth on January 20, 2016, 12:07:41 AM

Quote from: CuntChocula on January 20, 2016, 12:06:01 AM

Quote from: smooth on January 19, 2016, 11:59:01 PM

Quote from: AlexGR on January 19, 2016, 11:53:17 PM

Well mining does create new units, doesn't it? And instead of having +6mn coins, you then have +12mn due to parallel mining of +3600 coins on each fork.

No difference than moving the decimal still. ...

Money creation is no different than moving the decimal point? Is printing filthy fiat out of thin air also no different from moving the decimal point?

If it is given to existing holders in proportion to their holdings, yes, it is the same.

If you print fiat out of thin air and give it to Jamie Dimon then no.

But mining doesn't distribute the money to existing holders -- mined coin goes to the miners. Or are we not talking about Bitcoin here?

25% of the remaining supply is designated to go to miners. It still does after any such fork (as long as the issuance rules are not changed).

If you one 1 BTC now, then you own 1/21m of the total that will ever exist. You still do if one such fork is created or 100 such forks. No difference. No dilution.

That's ... don't even know what to start.
Let's assume I knew the grand sum total of all filthy fiat to be printed before the universe succumbs to entropy is X. My $1 is 1/X, just like your bitcoin is 1/21m.
Does this mean that printing doesn't debase filthy fiat?

As I said, it does if it is distributed to you, meaning your 1/X remains the same.

It does not if it is distributed to Jamie Dimon, meaning your 1/X declines.

Example.

USD supply is $1 trillion. I don't know if that number is correct -- it is hypothetical.

Your 1/X for $1 is 10^-9

If that is increased to $10 trillion and you are given another $9, then your 1/X remains the same (now 10/10^-10 or still 10^-9) and you have not been diluted.

If $9 trillion is given to Jamie Dimon and $0 is given to you, then you have been severely diluted. Your 1/X is now at 10^-10.