Re: Bitcoins have lost $210,000,000 USD since June 9th 2011
Remember, the inflation rate HAS NOT CHANGED at any time since Bitcoins were worth less than a penny to when they were worth $30. The fact is that their meteoric rise earlier this year occurred in the exact same inflationary environment.
This is not quite correct. The inflation rate has in fact been steadily declining. From block 0 to block 1, the annualized inflation rate was infinitely large. From block 1 to block 2, the annualized inflation rate was 5,256,000%. Currently the annualized inflation rate is ~35.7%.Okay you're right
, the rate is constantly changing, but the quantity of new coins per day is not changing. However, this further proves my point - for the meteoric rise in price occurred under a higher rate of inflation than what we're currently experiencing. Thus, The Founder ought to stop preoccupying his concerns with the inflation rate...