Post
Topic
Board Economics
Re: Bitcoin Loans and Lending; The Weakness in The Bitcoin Economy
by
JoelKatz
on 13/07/2011, 00:54:33 UTC
This is based on a misunderstanding of what predictable deflation does in a market. In fact, predictable deflation is already priced into the current price of a bitcoin. If a bitcoin is expected to be worth $25 next year, it cannot possibly be worth $10 right now because all the people who would rather have $25 next year than $10 now would bid the price up.