Post
Topic
Board Economics
Re: Inflation and the end of 50 BTC per block (from technical discussion)
by
kiba
on 17/12/2010, 18:52:29 UTC
My issues with BitCoin come from the unfairness of money creation, which is essentially a technocratic central bank issuing currency. If you have enough CPU-power and energy, you can originate most significant amount of new BTC into the market.

Technocratic central bank issuing currency? WTF?

You buy CPU cycles in the hope that you make more money than you would in loss. It's not technocratic but based on economic calculus. Bitcoin doesn't exactly grow on trees. That is the fairest way we can think of distributing the currency.

The experts aren't issuing the currency, bitcoin speculators who sunk tons of money into their mining rigs are.