Quote from: Peter R on March 24, 2014, 02:14:22 PM

Quote from: Zapffe on March 24, 2014, 02:06:57 PM

Stable inflation didn't cause the financial problems that we see in US. The problem is not in the school of thought, but in lose management principles and corruption.

I simply argued that we operate under a myth that "deflation is bad."

I made no claim that inflation caused "the financial problems that we see in US." What caused the problems in the US financial system is the same thing that's been causing problems in the bitcoin financial system: trust in third parties.

In the US dollar financial system trust is required; in the bitcoin financial system trust it is optional.

While I agree that stable deflation (1% year) could be done without heavy drawbacks, then it's still not as efficient as with stable inflation. (with bitcoin there is no stability with deflation either). In the modern world, the major powers are in a constant economic battle with each other. If deflation would be more efficient, then you could be sure that they would adopt it just to have an edge over their competition. The world isn't stupid and bitcointalk isn't the community of tortured geniuses, who are the only ones who know how to do it right.
Without trust, bitcoin will just die. Trust is the main thing that makes people put their wealth into bitcoin. Without trust there will be no wealth in bitcoin, and it will be just a fun innovative play money.