The Reality.
Before Money, Barter was the exchange of things but was rated in Human Empathy.
Money removed that Human Empathy part of the exchange, because it was not perfect Information that recorded exactly the Human Empathy part of exchange.
That was Commodity Money. Since the 1970's Fiat Currency money became globally used, that further removed that Human Empathy exchange.
People game system's, so that opened Pandora's Box, you can have everything at no cost. If you can game the system with no cost, you have the perfect environment for fast breeding Psychopaths to win. Empathy holds others back.
Politicians from Vanity to Psychopaths can promise everything and deliver nothing. Psychopathic lawyers become heads of Government's, Councils, Mayor's and big Institutions and Non-Government Organisations etc et cetera.
The nett result of the loss of exchanging Pure Human Empathy is living life backward to those who cherish the exchange of Human Empathy.
As such, Gender Attacked, Family Attacked, Childhood Attacked, Religion Attacked, Property Attacked, Opinion Attacked, Home Attacked, Privacy Attacked, Health Attacked, Nature Attacked, Survival Attacked, Climate Attacked etc et cetera.
Bitcoin goes right back to what I said at the start and further, it's the exchange of Pure Human Empathy before people even thought to write about how a God could do this better.
If you don't think that chasing Fiat Currency is the Religion of living backwards, then my friends, your minds have gone.
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Replies (4)
I’m not questioning the philosophy of Bitcoin…I’m asking a math question (more or less).
How does Bitcoin not inflate when used as a medium of exchange (beyond there will never be more than 21M tokens…)?
Because there is only so much Pure Human Empathy to be exchanged and Satoshi's can cope with that. However, if the number of decimal places need increasing, beyond Satoshi's to Finney's or beyond, then that's an easy fix within Bitcoin at it's Core
Inflation is caused by an increase in the money supply. With bitcoin the money supply is fixed.
In your example you have kept satoshi to apple conversion the same. In reality the price of everything will drop over time when measured in bitcoin.
because 'inflation' means monetary debasement, not 'prices went up' -- prices going up is a consequence of inflation.