Post
Topic
Board Economics
Re: Inflation and the end of 50 BTC per block (from technical discussion)
by
jgarzik
on 17/12/2010, 19:44:14 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?

acrylicist is being hyperbolic, but he's right.

bitcoin is a software-fiat currency, where the "central bank" is a collective agreement on software rules.

USD is a human-fiat currency, with a traditional central bank.

And it has always been true that the more CPU power you have, the more BTC you will receive.