Timeline for Why was Bitcoin designed with a decreasing production rate?
Current License: CC BY-SA 3.0
4 events
| when toggle format | what | by | license | comment | |
|---|---|---|---|---|---|
| Oct 29, 2012 at 23:32 | comment | added | David Schwartz | @fj2942ks: Others can't use the currency. But they are absolutely free to use the real wealth that you produced. If you're going to let the world trade you pieces of paper for trucks and factories, the world should be thrilled. You can hoard all the pieces of paper or strings of digits you want. We'll all profit from driving the trucks you made and using the fruits of your labor. | |
| Oct 29, 2012 at 23:11 | comment | added | fj2942ks | It's an interesting point but I consider hoarding to be a symptom of people being effective at making money but less willing to spend it. If I have a system that allows me to accumulate 90% of the wealth in the world and spend only what I need to survive, although I produced, I'm also stopping the free flow of money through the system. Others can't use it so I'm hoarding. Looking at the distribution of wealth in bitcoin, this is currently the situation. | |
| Oct 29, 2012 at 9:41 | history | edited | David Schwartz | CC BY-SA 3.0 |
deleted 1 characters in body
|
| Oct 28, 2012 at 6:49 | history | answered | David Schwartz | CC BY-SA 3.0 |