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natrius
on May 11, 2011
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In Fifty Days, Payments Innovation Will Stop In Si...
You've mixed up deflation and inflation.
hugh3
on May 11, 2011
[–]
Slow deflation at first, rapid inflation eventually. That tends to be how bubbles work.
(Not to be confused with physical bubbles, which are the other way around...)
eropple
on May 11, 2011
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parent
[–]
Exactly. The deflationary period will come when most people liquidate their Bitcoin holdings because they realize it's essentially useless. Or try to liquidate, anyway. At that point there won't be many buyers.
natrius
on May 11, 2011
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root
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parent
[–]
Deflation is an
increase
in the value of a currency. You're describing an eventual
decrease
in the value of Bitcoin, which would be inflation.
eropple
on May 11, 2011
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root
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[–]
You're right, I apologize. Sorry, should not post under the influence of burritos.
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