Quote from: afterburner229 on June 03, 2011, 03:11:07 PM

Quote from: trippy on June 03, 2011, 12:39:41 PM

Even if bitcoin will deflate, bitcoins are still being added to the supply at a fast rate until about 2017 at least. So if you don't want to use a deflationary currency, just sell all your bitcoins in 2017 before deflation kicks into effect. It's not that difficult. Roll Eyes

Deflation in bitcoin society starts when mining difficulty starts to be too high for profitable mining to average miner. It has already started!

Dollar-based economy is growing (between crisises) inflationarily, because people around a world DO mine gold-equvivalent in NEW goods, services, technologies, etc., in rate at least constant (but actually exponential). For this new THINGS, US goverment DO print new 'paper' dollars.

In bitcoin, mining difficulty DOES exponentially DEPRESS the profit for sell/buy NEW goods, services, technologies, etc., for BTC.

Just keep, accumulate bitcoins & play on BTC exchanges - it simply MORE profitable than ANY business that uses bitcoin as currency, including even mining itself.

Why don't you all guys understand it?

Mining difficulty changes every 2 weeks, so that's not a problem. It's just that difficulty has to follow price, otherwise a bubble will be created (and it will explode).

You could see accumulating bitcoins more profitable than mining, but mining gets you actual brand new bitcoins and you don't have to sell them all just when you get them.