Post
Topic
Board Bitcoin Discussion
Re: There might be another virtual currency following BTC
by
Andrew Vorobyov
on 30/06/2011, 12:20:28 UTC
Inflation benefits the people that have more wealth because it props up their assets, while it goes against the people that earn a wage (usually the middle class and the poor) because it devaluates their wages. The basic mistake you are making is believing the wealthy keep their wealth in currency. They dont.

I don't care who will profit - rich or poor - from inflation currency.

In order to have big enough lending activity people should be discouraged from storing value in currency for long term.

If wealthy do not keep their wealth in currency - objective met. If they are running successful businesses - they have right to be wealthy.