Andrew Ducker (andrewducker) wrote,
Andrew Ducker
andrewducker

Something that confuses me about the debate on Bitcoin

People keep referring to Bitcoin being deflationary, and how awful that is.

Now, leaving aside debate on whether deflationary currencies are inherently awful, it seems to me that for the next 130 years Bitcoin is explitly _inflationary_*. Money is printed approximately every ten minutes, like (slightly wobbly) clockwork.

Sure, in 130 years we'll have to worry about having run out of new Bitcoins. But all things considered this seems something we can push off onto our great-great-grandchildren, who will undoubtedly have generated numerous other ways of dealing with currencies.

*If the price stabilises, of course. If the price keeps shooting up forever then that's different. Seems a tad unlikely though.



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