Quote from: gollum on March 22, 2013, 05:44:04 PM

Quote from: kjj on March 22, 2013, 05:31:29 PM

Quote from: gollum on March 22, 2013, 05:15:04 PM

You should take courses in Macro economy to understand more about inflation. Why do you think the central bank of Japan (BoJ) has fighted deflation for more than 2 decades?
Deflation is bad for the economy! If your 100$ bill would be worth more each year you would postpone your consumption and the economy would shrink each year (which is case in deflationary economies such as Japan).

And maybe you should read some of the thousands of posts in hundreds of threads discussing this idea. We aren't ignorant of the nonsense ideas to be found in books with "macroeconomics" printed on their covers, we actively reject them.

There really are hundreds of threads on inflation vs. deflation, and you've added nothing of substance to the discussion.

I know that some bitcoin enthusiasts prefer bitcoin over FIAT-currencies since it cannot be printed when 21 million is reached vs fiat currencies such as the Zimbabwe Dollar...

But you hate inflation on wrong reasons - the fiat inflation of fiat is bad because we cannot predict politicians or central bank behaviour. Bitcoin algorithm is the opposite, it is predictable and I dont see any problem with an built-in inflation of X % per annum for infinity, therefore inflation in cryptocurrencies is nothing bad. It prevents hording.
And it encourages spending bitcoin so that the bitcoin economy can grow!

Bitcoin was designed the way it was quite deliberately. The intelligent fellow (or fellows) who dreamt up and implemented the brilliant idea that is Bitcoin didn't want it to be inflationary. You may be correct that an inflationary cryptocurrency would work better than Bitcoin, but that doesn't change the fact that Bitcoin is not an inflationary cryptocurrency. In other words, rally support to your idea and create your own cryptocurrency. Maybe call it "FriedmanCoin". Then we can see empirically which one does better. My bet is still on Bitcoin.