But still if there is only an ever shrinking supply of coins... It doesnt bode well for the longevity of bitcoins.
How so?
[Spoiler: Here come's the invalid "deflationary spiral" argument.]
The deflationary spiral is perfectly valid as an argument. Look at how many times in history a deflationary event has devastated countries. The fact of the matter is, prices are less downwardly elastic than they are upwardly elastic so deflation is a bigger problem than inflation.
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Topic
BoardBeginners & Help
Re: Introduce yourself :)
by
zephyrprime
on 01/03/2013, 20:29:09 UTC
Hello. I ordered a butterfly labs single and was going to buy a minirig but now I'm having second thoughts that the whole thing is a scam so here I am.