Post
Topic
Board Economics
Re: Bitcoin. In no way deflationary.
by
Birdy
on 04/05/2013, 19:25:55 UTC

I agree completely. I count myself amongst those "Austrian types." Wink Eventually, Bitcoin will switch to being properly deflationary, but given that a) it will be a very gradual slope, or at the very least very long plateaus between deflationary events (lost or destroyed private keys) and b) lost and hoarded coins are functionally identical, and unless a private key is known to be lost, it's unwise to treat it as actually gone, I don't see it being a problem. When/if it does become a problem, Bitcoin2 is a simple code fork away.
I can agree with you on this, it's not a problem.