FYI, here is a recent article from the BitcoinRedLight website.
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For most practical purposes, there is no such thing as an inflationary currency or a deflationary currency. There is only inflation and deflation; there is only that which is actually happening. True, for most of the time the FRN is in inflation, but following the 2008 banking debacle it went into a wicked sharp deflation.
The point is that we need to forget about
only 21 million Bitcoins will ever be created
. Ok, even if we all believe that to be true, the reality is that right now Bitcoin appears inflationary, and there is no guarantee that Bitcoin will even survive, let alone reach its 21 million projection or go into deflation.
There is a reason that central banks are powerful. They manipulate the game in favor of the game! Why? Obviously because they have every incentive to do so. And who directly benefits by the Bitcoin game? Obviously, the guys who have lots and lots of Bitcoins.
They gain a direct benefit by every contribution that every Bitcoin-poor make. And if they just hoard (i.e. because the price is guaranteed to go up to the Wagner-moon) or if they just keep weekly dribbling out their mega stash to little-stash hoarders who are also buying into the Wagner-moon hype (or worse, to TPTB who will eventually crash Bitcoin), then this whole thing is screwed because the Bitcoin wealthy, themselves, dont believe in Bitcoin, they believe in DOLLARS.
This is why the Bitcoin wealthy are SO important right now. They are the ones who hold the keys to getting this currency into a position of circulating USE by pumping Bitcoins into the infrastructure and startups which are desperately needed to make the Bitcoin economy go.
Half the Bitcoin wealthys stash could be worth far more, later, if they would just pump half of their stash (i.e. some healthy percentage) into the Bitcoin infrastructure now. Mind you, since they hold the Bitcoin wealth, they would be investing in their own holdings.
And if they dont do it, what does that say to the rest of us who are working so hard for so very little?