Another advantage of steady inflation is that salaries go down over time.As opposed to paper currencies which hold value precisely as long as people believe that they do (i.e. a fan currency).The hard limit of transactions in somewhere around three per second (or at least that order of magnitude).
Then the first asteroid ever prospected is found to have more gold and precious metals than have been mined from the Earth in all history.Legal purchases, donations, etc, appear to make up only a tiny fraction.Furthermore I always think to myself whenever I see those Roslyn Capital commercials that if the doomsday fiat currency crash happens (think Depression-era tier or worse) like the spokesman says then who will be able to buy all that gold you been hording if everyone is broke.It is a capital gain tax as if you sold your property when you left.
Bitcoin on the other hand is thinly traded, volatile, digital only, and relies on technology of uncertain robustness.Bitcoin is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen.Someone made a distro that ran bitcoin entirely out of tmpfs.You need to pay 000001 BTC to get a credit of 1000 page visits.Cryptocoin could be regarded as a currency backing that actually scales with economic output - because there are no physical limits beyond manufacturing the ASICs and generating the energy (until you hit physical limits for those.).Trump coin will posses intrinsic value regardless of the face value precisely because it had the face of Donald trump on it.
Paper money only has value because enough people think it does.Credit cards settle in seconds, and the network has scaled to massive size and can continue to scale no problem.
Nowadays it seems we reward the fools for being foolish and punish the cautious.Hundreds of other nodes have dropped off for their own reasons.But it was always expected that as the return on mining slowed that it would become fee based.These bitcoins have remained unspent and moved, whether or not this was intentional or not, the motivation remains unknown.Become the best Bitcoin miner and learn how to mine Bitcoins with the best Bitcoin mining hardware, software,.
Deflation is generally seen as a really bad thing, as it makes people prefer saving over spending.
Once the mining reward halves later this year, the incentive to increase transaction fees will be that much greater.