On Wednesday 23 Feb 2011 19:00:53 DJ Amireh wrote: > If you're actually worried about this though, you can convert the bitcoins > to a "real" currency as soon as you receive them.
Yes, we don't plan to hold on to them long term. Because of the risk of inflation, not deflation, specifically the risk of speculative bubbles and wild price swings - although the price so far has actually been a fairly consistent rise, see the graphs (currently on a downward trend but too early to tell where it will level). > Anyway, this isn't really > unique to bitcoins as most currency is going to deflate eventually.. I was under the impression that central banks, governments and the like take strenuous measures to prevent deflation (as well as to prevent high inflation). My objection is more that there might be pressure to change the rules, and that if people had debts denominated in BTC it would be bad (it could be factored in to a degree in predetermined interest but it would mean when they economy grows your debts grow with it). > On Feb 23, 2011 11:12 AM, "Markus" <mar...@eserver.homelinux.org> wrote: > > Am 23.02.2011 03:16, schrieb Matthew Toseland: > >> See our web interface, or send BTC to: > >> 1966U1pjj15tLxPXZ19U48c99EJDkdXeqb > >> > >> I have signed this message so you can hopefully trust the value above. > >> > >> Bitcoin is a distributed digital cash system. I will blog about this > shortly, it's a fascinating system which has a number of issues. > >> > >> One interesting property is that bitcoin is transparent: You can see what > comes in to it: > >> http://blockexplorer.com/address/1966U1pjj15tLxPXZ19U48c99EJDkdXeqb > >> > >> Obviously this is anti-anonymity! Bitcoin is not anonymous as-is but can > be used in ways that are somewhat anonymous and it is likely that systems > will be built on top of it that have strong anonymity. It can be accessed > through Tor and there are people working on a Freenet transport. > >> > >> It's not an especially efficient way to give us money at the moment > however. If you have a large or regular donation we can arrange a bank wire. > Paypal and google aren't especially efficient but are more so than bitcoin, > at least in small quantity. > >> > >> Also it is deflationary. I expect eventually there will declines, so we > expect to avoid holding onto BTC long-term, although there is an argument to > hold on until we have a moderate amount because withdrawing funds is > significantly more efficient and safer in largish quantities (e.g. >$800). > >> > > Bitcoin is deflationary. The number of bitcoins, donated to the > > freenet-projekt, will decline in future because of the > > bitcoin-deflation. But because of the deflation, the small amount of > > donated bitcoins are the same value in dollar or euro as it was before > > the decline of nominal donations. > > > > I think the bitcoin way of deflation is a good deflation. But i will not > > explain that because english is not my native language...
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