Post
Topic
Board Economics
Re: Inflation and the end of 50 BTC per block (from technical discussion)
by
kiba
on 17/12/2010, 19:54:46 UTC
bitcoin is a software-fiat currency, where the "central bank" is a collective agreement on software rules.

I'll concede that based on the fact that central banks are responsible for the control of the money supply. However, Satoshi and the core developers have no power beyond the agreement of all the miners. They are checked by bitcoiners in general and the right to fork. They do not control or regulate the Bitcoin banking industry, amongst other things.

Certainly, they have less power compared to a nation-state's central bank.

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

Nobody is disagreeing with that fact.