Interesting fact, Bitcoin does actually have "inflation" but it halves until it reaches that 21 million asymptote. At that point, we will be effectively capped at 21 million.
Also from what I gather any of the new bitcoin from the block subsidy past 21 million will not be usable by the protocol. I need to sharpen up on the exact details of how that works but that's the gist of it. Kind of a cool fact! Though a little misleading to call it "inflation" in this case considering that we colloquially understand inflation as the infinite printing of fiat money.
I had gotten in a debate with a guy once and he told me about Bitcoin's asymptotic feature, saying Bitcoin had "inflation." Funnily enough but he was against Bitcoin. He came off as a bit trolly or perhaps a bit arrogant. Kind of resorted to using a bit of ad hominem, the "uneducated mob", and the authoritative position he was currently in.
Though in his defense we were doing something very unrelated to Bitcoin at the time, so it's also possible he just wanted to focus on that thing and not a discussion about Bitcoin. Which is fair considering how Bitcoin is in a political league of its own and there are people who are against it due to the fact that many still conflate scam coins and Bitcoin. 🤷♂️
TheEpic / The Epic
npub15d…eh787
2024-07-28 04:03:59
in reply to nevent1q…m68j
Author Public Key
npub15dl9r60ypkd87ewsdc9enqx2c0qxat0cf2pcyvqs6etekz60c97qaeh787Published at
2024-07-28 04:03:59Event JSON
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"content": "Interesting fact, Bitcoin does actually have \"inflation\" but it halves until it reaches that 21 million asymptote. At that point, we will be effectively capped at 21 million.\n\nAlso from what I gather any of the new bitcoin from the block subsidy past 21 million will not be usable by the protocol. I need to sharpen up on the exact details of how that works but that's the gist of it. Kind of a cool fact! Though a little misleading to call it \"inflation\" in this case considering that we colloquially understand inflation as the infinite printing of fiat money.\n\nI had gotten in a debate with a guy once and he told me about Bitcoin's asymptotic feature, saying Bitcoin had \"inflation.\" Funnily enough but he was against Bitcoin. He came off as a bit trolly or perhaps a bit arrogant. Kind of resorted to using a bit of ad hominem, the \"uneducated mob\", and the authoritative position he was currently in.\n\nThough in his defense we were doing something very unrelated to Bitcoin at the time, so it's also possible he just wanted to focus on that thing and not a discussion about Bitcoin. Which is fair considering how Bitcoin is in a political league of its own and there are people who are against it due to the fact that many still conflate scam coins and Bitcoin. 🤷♂️ ",
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