Quote from: Synaptic on July 14, 2011, 12:06:25 PM

Quote from: JoelKatz on July 13, 2011, 12:54:33 AM

This is based on a misunderstanding of what predictable deflation does in a market. In fact, predictable deflation is already priced into the current price of a bitcoin. If a bitcoin is expected to be worth $25 next year, it cannot possibly be worth $10 right now because all the people who would rather have $25 next year than $10 now would bid the price up.

HAHAHAHA...

This, now this is a special kind of stupid. I literally laughed quite audibly.

Why? (That is, why is it stupid? I assume that you laughed quite audibly because you thought it was funny)

I can't find any hole in that logic.

dan_a

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