Quote from: Francesco on April 14, 2013, 11:20:17 AM

Quote from: odolvlobo on April 11, 2013, 09:35:01 PM

Quote from: Francesco on April 11, 2013, 09:29:57 PM

A deflationary currency is not a viable option for economy, period.

Gee. I just can't figure out how the U.S. economy managed to survive until 1971 with a deflationary currency seeing how it is not viable, period.

Never in history the US experienced a deflationary currency, let alone a SO deflationary one. Just saying.

The U.S. was on a gold standard until 1971. Gold is a deflationary currency, just like bitcoin.

I'm not arguing that more deflation is better, or that the current deflation rate of bitcoin is good. I have seen first-hand that it is not. My claim is that both high inflation and high deflation are bad, and that both low inflation and low deflation are tolerable.