Quote from: becoin on August 16, 2011, 04:12:51 PM

1. There is neither inflation nor deflation with bitcoin. You know when you'll have 21 million coins and that is it. Lack of inflation is not equal to deflation!

When you'll already have the 21 million bitcoins, but the userbase is still growing or the mined coins are lost, happens deflation. The prices of the goods and services will drop, because each of us will have less coins to spend in the long run.

Quote from: becoin on August 16, 2011, 04:12:51 PM

2. Inflation that is offered here with altcoin is not 'slightly' but 100% predictable. I don't understand how 100% predictable inflation helps?

Slightly because there are factors that can't be 100% predicted. If there are only a handful of early adopters, the prices of goods'n'services will be high because the coins are valued so low. Even if the implementation was meant to be inflative, deflation could happen if the userbase grows exponentially compared to the coins currently available.

Quote from: finnthecelt on August 16, 2011, 04:05:56 PM

Agree, Gresham's law will take effect.

It will take effect with Bitcoin too.

Quote from: finnthecelt on August 16, 2011, 04:08:44 PM

So if people are doing the same thing with fiat currency why would you create the digital representation of the same ill begotten problem that is now the scourge of humanity?

I believe that the main problem with currently available fiat currencies is that they're controlled by the governments. Yes, they're inflative just like Altcoin, but they are also very unpredictable. It's better to invest on gold, silver, shares etc. because there's no way to know whether your USD will be 95%, 75% or 50% of it's value after X years. Right, there's no way to know for sure with Bitcoin or Altcoin either, but they can only be manipulated by the market, not by some shady entity somewhere we don't even know.

E: Also, someone asked what do I have against Bitcoins. Nothing really. I do use them and I do believe they can succeed.

But there exists some problems too and forks are trying to solve them. How long it takes to maturity for example and also that the early adopters are holding huge amounts of BTC, but no-one knows exactly how much. They can manipulate the market to huge extent. As time goes by, not to mention coin loss that's constantly happening, the early adopters will actually become even richer. And even richer. And have even more power. The inherent problems that can come with deflative implementation: your coins are now worth 10USD, but tomorrow they are worth 20USD. Why on earth you would spend your coins today if you could just hold them back until tomorrow? But you really have no idea to buy anything tomorrow either, they're worth twice the next day etc.

Again, these are nothing that are impossible to overcome, but they can prove to be difficult obstacles and probably too unfair for some (like, making the rich ever richer and the poor even poorer) preventing widespread Bitcoin adoption. And I view a large(ish) userbase as a crucial thing.