Quote from: berserkinterbuy on January 25, 2017, 09:09:06 PM

Quote from: deisik on January 25, 2017, 06:44:46 PM

Quote from: Hammerschmidt on January 25, 2017, 01:47:04 PM

Quote from: Betwrong on September 21, 2015, 12:06:34 PM

Just yesterday I had a conversation with a person who studied economy and finances at a University. He said that any Economic system to work propoerly needs some inflation. Since Bitcoin is a deflationary currency by design he said there's no way Bitcoin would replace all the money in the world.

It depends on your definition of economy and what is meant by inflation. Bitcoin doesn't have inflation but it has "level of difficulty" in mining. So, in a sense, it has the same type of "deterrent," or intangible force acting against the wide proliferation of the monetary unit. It's like friction in Physics. It opposes all motion and is responsible for things wearing out, so people tend to think of it as a bad thing. But then there's ice on the road, and over-reduction of friction becomes much worse.

By fine tuning the counter-force, in the real world and in the economics of bitcoin, you get the desired result of rewarding those who were the early participants

In essence, this is a well disguised form of socialism

These guys (whoever of them might still hold bitcoins, of course) were mostly just lucky to be in the right place at the right time. There is no reason to believe or think that they have some particular values or accomplishments to be awarded in this way. While this point may be debatable, it is certainly not in respect to those who bought bitcoins with the sole purpose of gaining more profits in the future by doing basically nothing (socialism begins here) and waiting for currency appreciation through wider Bitcoin adoption, i.e. by grabbing a part of the common pie (socialism gets exposed here)

I do not know how anyone, but I like paper money. Of course the ease and practicality, I do not deny credit cards, but it has certain positive aspects, when you have money in your pocket. I think that I am not the only one.

yes its right because paper money is still he need of every one. but now people feel Bordon having paper money in pocket. and in business point of view it is very difficult to transfer paper money from place to place, even if you are using a bank still you have visit a band and then all the procedure, cryoto currency is and specially bitcoin is making your life easier. the transaction of money from one place to another is now not a problems you can do that in seconds.