e7596028…afb8 -- 618d [parent] [-]
|    Gold is devalued at least 2% a year... it's not going up, it's actually going down. But fiat is going down fast.
|    
|    Only Bitcoin is absolutely scarce.
|    reply [1 reply]

bef724f6…f78c -- 618d [parent] [-]
|    Bitcoin will be scarce but it’s currently inflationary too
|    reply [1 reply]

e7596028…afb8 -- 618d [parent] [-]
|    Because the entire future issuance is known it is not considered inflationary. You can simply assume 21 million
|    supply, and with that, it's actually deflationary. Unlike gold which is an unlimited supply. See the difference?
|    reply [1 reply]

bef724f6…f78c -- 617d [parent] [-]
|    No. Knowing something will be doesn’t mean it is right now. That’s sloppy reasoning.
|    
|    Bitcoin has a hard capped supply of 21M with a diminishing issuing rate. It will be deflationary long before its
|    last halving but until then it is inflationary.
|    reply [1 reply]

e7596028…afb8 -- 617d [parent] [-]
|    Inflation typically refers to the decrease in purchasing power of a currency over time due to an increase in the
|    supply. When more money is printed or gold is mined, the value of each unit of currency decreases, leading to
|    higher prices for goods and services.
|    
|    Since the supply of Bitcoin is fixed and cannot be increased, it does not suffer from inflation in the same way
|    golds does. The inability to create more Bitcoin ensures that it remains scarce.
|    
|    What you are calling inflation is simply the issuance of an absolutely scarce commodity. It doesn't matter that
|    it hasn't been issued yet, all that matters is that no more than 21 million can be created.
|    reply [1 reply]

bef724f6…f78c -- 617d [parent] [-]
|    My fellow Bitcoiner, I’m happy you’re as bullish as I am on Bitcoin but what you’re saying is factually wrong.
|    
|    Additional 3.125 BTC block subsidy are being issued roughly every 10 minutes inflating current supply. That’s
|    inflation.
|    
|    Future supply is irrelevant here.
|    
|    I get your point though. It will never be more than 21M and if that’s priced in, from a future me point of view
|    it’s deflationary.
|    reply [1 reply]

e7596028…afb8 -- 617d [parent] [-]
|    Supply is 21 million, impossible to inflate. What you are describing is issuance.
|    reply [1 reply]

bef724f6…f78c -- 617d [parent] [-]
|    Let’s end it here. All the best to you 🫂
|    reply [1 reply]

matata -- 617d [parent] [-]
|    nooo, I'm curious now too.. isn't that issuance?
|    
|    the 21m already exists, they're just being issued according to a formula
|    reply [1 reply]

e7596028…afb8 -- 617d [parent] [-]
|    That's correct, and this person's insistence on using the word "inflation" when he should be using "issuance" is
|    only confusing to people who are just learning about bitcoin.
|    
|    This is why we make a clear distinction between the two, because the inflation of gold and fiat currencies and
|    the issuance of bitcoin are completely different.
|    
|    Using the word inflation for the the issuance of bitcoin up to the 21 million cap is misleading and confusing.
|    reply [1 reply]

bef724f6…f78c -- 617d [parent] [-]
|    Dude you’re wrong. Arrogance won’t change that. Just read the white paper. Satoshi himself said bitcoin would
|    eventually become inflation free.
|    reply [1 reply]

matata -- 617d [parent] [-]
|    was there ever an Inflation bug and how did it get fixed, do you know?
|    reply [1 reply]

bef724f6…f78c -- 617d [parent] [-]
|    That’s a different matter
|    reply [1 reply]

matata -- 617d [parent] [-]
|    ok nothing to do w inflation?
|    reply [1 reply]

bef724f6…f78c -- 617d [parent] [-]
|    Inflation bug was about possible inflation of total *future* supply.
|    
|    When speaking about inflation we usually refer to *current* supply.
|    
|    Arguing with capped future supply to make the case bitcoin is deflationary now is bullocks for several reasons.
|    reply [1 reply]

matata -- 617d [parent] [-]
|    there's the thing maybe we need to update and specify the definition of inflation again to fit money with a
|    capped supply 😂
|    reply [1 reply]

matata -- 617d [parent] [-]
|    i mean. not the first time
|    
|    1941 https://image.nostr.build/071e0d4911620f9eadefef2e46d048accd52186ea493f3f3ac4758040133d294.jpg
|    
|    
|    1971 https://image.nostr.build/deffa2314840c10f31e50950653b18385316f6477379c5d65e6858065974017e.jpg
|    reply [1 reply]