Poll
Question: Closing BTC Price June 28:
$0 - 5 (2.6%)
<$7,000 - 4 (2.1%)
$7,000-$7,499 - 0 (0%)
$7,500-$7,999 - 0 (0%)
$8,000-$8,499 - 1 (0.5%)
$8,500-$8,999 - 3 (1.6%)
$9,000-$9,499 - 4 (2.1%)
$9,500-$9,999 - 27 (14.2%)
$10,000-$10,499 - 26 (13.7%)
$10,500-10,999 - 15 (7.9%)
$11,000-$11,499 - 14 (7.4%)
$11,500-$12,000 - 17 (8.9%)
>$12,000 - 59 (31.1%)
>$20,000 - 15 (7.9%)
Total Voters: 190

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Author Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion  (Read 21254344 times)
This is a self-moderated topic. If you do not want to be moderated by the person who started this topic, create a new topic. (68 posts by 16 users deleted.)
jbreher
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March 03, 2016, 06:43:50 PM

So The Dream is to have One Money to Rule Them All?

Not the dream - the promise. Hence 21M.

Quote
And this obsession with "inflationary." So hard for me to understand.
If 1 BTC buys me 1 Cow today, 2 Cows a year from now, and 4 Cows the year after that, I don't care about base money inflation.

You describe the properties of a deflationary money. Again, the promise. If currency units are created willy-nilly, there is inherently inflation. You're speaking against yourself.

Quote
If, OTOH, 1 BTC buys me 2 Cows today & only 1 Cow tomorrow, I also don't care if the sum total of biitcoins has doubled or halved.
Do you?

Yes, I do. i do not want my store of value to lose value over time. As do most rational people.

protip: Currency is not wealth. 'Stuff' is wealth. The amount of 'Stuff' in existence, plus created, is not determined by the amount of currency units. As more and more currency units chase after the same amount of 'Stuff', each currency unit buys less 'Stuff'.

I posit to you that for the majority of Bitcoiners, the 21M cap figures very heavily in their decision to get involved. If Bitcoin is not The One True Crypto, then it is just one more in an ever-expanding inflationary sea of equivalents.