Post
Topic
Board Bitcoin Discussion
Re: When the majority decides to change the rules
by
Dai
on 22/03/2011, 21:25:42 UTC
Quote
Let's be optimistic and suppose that Bitcoin does take off in a big way and goes mainstream to the point of becoming a significant actor in the world economy

Forget everything you have read about bitcoin. If the above were to happen every manufactured item and every service would be worth less as time went by. Lets use a farmer as an example he buys all his seeds and plants them now it costs x mount  because, the currency has to cover more and more goods and services by the time the farmer reaps his harvest and sells it. The selling price does not cover what he paid for the seeds and stuff in the first place . Classic deflation. Like I said you can not use a finite resource in an exponential system to two are at odds with each other.