Quote from: TheEnglishMonarchist on July 06, 2011, 09:59:43 PM

This is not a manner of a elementry school, It does not matter if it is "fair" to mine bitcoins, And receive so very many dollars from it. What matters is this limit is idiotic. There is no need for it, And it will cause the eventual demise of bitcoins, For bitcoins will become as any other currency. I must buy bitcoins in order to receive them in place of mining them, And this will discourage many. If this occurs, Bitcoins will become somewhat a stock market, You can buy bitcoins when the value drops, And sell them when it increases, Yet you cannot add to this by mining bitcoins, Thus the use decreases, And the value.

Do you understand why there are countries in tens of trillions of fiat currency debt? Do understand why quantitative easing (i.e. increasing the money supply - to try and mend a system that's beyond repair, no less) devalues a currency? Do you understand what a growing and infinite supply does to the value of a currency? Do you understand what happened to the currencies of the Weimer Republic in the 1920s and Zimbabwe in the last decade?

Do you understand that there are two main people who get into bitcoin? i.e. those who understand the above and want to not only maintain their purchasing power, but improve it with time (nothing idiotic about that); and those who just want to make a quick buck because they heard some people already made shit loads of money, and even though they don't understand the how or why of the deflationary nature what they're getting into works.

The latter should probably just stick to fiat currency as it already does exactly what they want - offer a limitless supply of money.