A
On May 31, 2013 2:17 PM, "Daniel" <[email protected]> wrote:
>
> Levi,
>
> You talk of the Fed as a regulatory body that keep the inflation in check.
> If there is a decentralized monetary system how do you regulate/influence
> inflation?
Well, I gather that preventing inflation was one of the reasons that
bitcoin has a fixed supply. A another consequence of this is that a market
denominated in bitcoin would see price deflation as it grew, which carries
its own set of problems.
So, you either need to design the currency so it has the kind of self
regulating mechanisms you desire or deal with the way things play out
without them.
--Levi
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