Quote from: mouse on July 03, 2011, 04:38:41 AM

Quote from: JoelKatz on July 03, 2011, 04:17:09 AM

Once the deflation is built into the present price, it will no longer deflate.

Quote from: FreeMoney on July 03, 2011, 04:19:07 AM

Quote from: JoelKatz on July 03, 2011, 04:17:09 AM

that's like saying it is worth more than it is worth.

x7

Clearly I'm not an economist, but I don't buy your line. Your saying that theres a current price now, X, that will drive out all future inflationary pressures, including accounting for fiat inflation. This seems unlikely. And anyone who holds both BTC and USD knows this. Thuse, there is a hoarding presure.

Sure there is a pressure, but it moves everyone to a point where a bit of extra coin is worth as much as a bit of extra dollar to them.

If you are in a position where $15 is worth less to you than a coin, buy a coin. Then if $15 is still worth less to you than a coin, buy a coin. Keep going until you have so few dollars that dollars are just as precious to you as coins. Now you are ambivalent between spending dollars or coins. If you greatly prefer spending dollars to coins you are making a big mistake in your allocations.