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December 13th, 2017 at 1:11 pm
nattering – the system is designed to inflate. That's actually what saves it in a way, as gold can't inflate. Neither can bitcoin, but ah, it can, did you know bitcoin has 3 forks already? Oh, and there's 1237 other coins in existence… Being able to inflate is a necessity. As the universe of goods and services gets bigger, so does the currency system to support that specific market economy. The unit values are totally irrelevant (except to the individual "Accumulating" them), the maket size could care less if there's 1.00000000 units divisible into 0.0000000001 or whatever, versus 1,000,000,000,000,000 units divisible to 0.01. Currency units are completely meaningless at a macro-economic level, only to the individual hoarding/using the currency in trade from peer to peer, is where units matter.
Now where have I heard of a new system that has an arbitrary, finite (and irrelevant) amount of total units that trades among peers that determine the unit value amongst themselves? It feels very familiar…