04 Jun '13, 4pm

Bitcoin vs. debt-based, inflationary systems #bitcoin

This is just an insight based on experience so far. Comment and criticize. With inflationary currencies created from debt, I get stuff now, but then I have to pay more for it later due to interest and inflation. With Bitcoin, I pay for bitcoins now, then I get stuff later by either paying less due to appreciation of value of the limited-supply currency (if the adoption keeps growing), or pay more due to depriciation in case people start dropping out for some reason, and value of coins dropping as a result. Both scenarios happened in the past at some scale. So, in case of dollars, euros, etc. - you are definitely either screwed and exploited, or you are the privileged minority screwing and exploiting the majority. In case of Bitcoin, it's a level field and open book for everyone, but we don't really know how much our savings and contracts will be worth in terms of goods and...

Full article: https://bitcointalk.org/index.php?topic=225355

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