Quote from: Gator-hex on November 21, 2013, 02:28:12 AM

As I often explain to Keynesians..

you assume populations can grow forever and resources never run out!

I hate to break it to them but we live in a finite world and we just hit peak energy!

We are in a deflationary cycle and to survive it we will need a deflationary currency.

I am not a Keynesian, I just used the word to as a recognizable starting point for the idea that having a decentralized currency that regulates inflation/deflation rate could be desirable. Suppose you decide that some specific deflation rate is desirable rather than an uncontrolled deflationary process the system I am attempting to lay out serves that purpose just as well. If you are not a keynesian and you like deflation, do you think the uncontrolled deflation that comes with a fixed money supply(actually a money supply that decreases at an uncontrolled rate due to lost coins) is better than a fixed deflation rate? If you think so but don't have a good argument I have no choice but to accuse you of status quo bias in regards to the specific characteristics of Bitcoin.