Sir i would like to keep my purchasing power. I do not want Inflation, zero. For some reason Monero people OK with it, gl hfsp.
Discussion
you dont want to "keep your purchasing power"
monero keeps its purchasing power.
you want to check fiat charts and feel smug that you are smarter than everyone else and imagine how much a few thousand sats will buy you in 20 yrs .
which is called "greed"
be honest with yourself for once.
Monero inflation is incomparable to fiat. Fiat is controlled by governments, XMR is not. Fiat has no limit, while XMR has a fixed supply schedule that decreases over time. Fiat is unpredictable, XMR is not.
You’re missing the point about inflation. Monetary inflation isn’t necessarily bad in itself. Unpredictable, uncapped monetary inflation dictated by an oligarchy is the real problem. Monetary inflation can be a powerful tool to incentivize behaviors that are beneficial for a network. For cryptos, it is to guarantee the its security over time. Don’t forget that Satoshi justified the reduction and termination of the block rewards by projecting that fees will replace them. Fees are at a all-time low. #Bitcoin will have to find a consensus to change its issuance curve or take the risk to enter uncharted waters.
And don’t expect to keep your purchasing power if your money is on an unsecured network.
Satoshi also expected the blocks to grow. Not growing blocks meant that people were looking for second layer and custodial solutions instead, that are now put in place. Unfortunately people got used to own BTC IOUs in third party exchanges.
So glad we have Monero with almost zero coins held by custodians.
Wait till Bitcoiners find out about fractional reserved BTC. I would take 0.8% inflation in XMR over 0.8% inflation + an x10 increase of "virtual" BTC any day.
Good point about paper Bitcoin. It’s probably already happening at larger scale than most would find acceptable.
"Monetary inflation isn’t necessarily bad in itself."
IF you believe Keynesian economics......
That there is a theory explaining how good fiat is and the only way we can survive, doesn't mean it is true.
Even that it is basically the only theory explained in academics doesn't make it the truth.
That most people feel save following the herd is a fact.
I have discussed this often.
And even if I can proof that every intervention can be explained two fold and be opposite of each other and still follow the Keynesian theory doesn't convince most.
It is safe to say it is the most active spread religion on earth.
And #Bitcoin is going to be the truth to dismantle that religion.
Inflation != fiat
Bitcoin wouldn’t exist without being inflationary.
You know you are fighting something you can't win ?
Tell me a better way to introduce the next #Bitcoin ?
Sorry man but I’m not sure what you mean here. We probably agree on most things on those topics but I’m just pointing out that inflation isn’t necessarily bad. You can see it as the carrot necessary for a system to work. Although you can’t give too many of them and you should make sure they are given to the right people for the right reasons. Fiat money is definitely a fraud though.
The only way inflation is not bad is if it can't be abused by humans !
So in case of #Bitcoin it is hard coded, finite, and used as a way to kick start it.
Once a monetary/Money system is up and running inflation is not needed. but more important if there can be inflation it will be abused.
I agree with you except on the last paragraph. There is never a lack of benefits to have some inflation to incentivize particular initiatives. As you alluded to it, it all depends on who makes the rules. It’s unclear if #Bitcoin will ever be able to provide security for its network without inflation although if it can then, yes there would not be a need for the block rewards anymore.