Quote from: cbeast on October 22, 2011, 02:05:17 AM

Quote from: bitcoinminer on October 21, 2011, 10:36:43 PM

Quote from: DeathAndTaxes on October 21, 2011, 09:26:19 PM

Quote from: bitcoinminer on October 21, 2011, 09:10:40 PM

Inflation is VERY BAD for BTC.

What makes you think BTC has an inflation problem?

Please don't tell me you think the decline from $30 to $2 USD was because of inflationary pressures?

In economics, inflation is a rise in the general level of prices of goods and services in an economy over a period of time.[1] When the general price level rises, each unit of currency buys fewer goods and services. Consequently, inflation also reflects an erosion in the purchasing power of money a loss of real value in the internal medium of exchange and unit of account in the economy.[2][3] A chief measure of price inflation is the inflation rate, the annualized percentage change in a general price index (normally the Consumer Price Index) over time.[4]

http://en.wikipedia.org/wiki/Inflation

Only in the sense that each unit of currency buys fewer goods and services, and has an erosion in it's purchasing power.

So, not in the sense that BTC people like to here, only in the "scientific definition" sense.

You left this out "Economists generally agree that high rates of inflation and hyperinflation are caused by an excessive growth of the money supply."
Bitcoin will never suffer excessive growth in the money supply. Hence, no inflation.

Economists aren't generally agreeing about bitcoin. Inflation is the loss of purchasing power per unit, period. I know you are probably one of those "don't confuse me with the facts" people but 2 BTC bought a lot more two months ago, regardless of exchanging it for fiat. That is called inflation.