Saying that inflation is bad is not quite right.
In the fiat system the inflation just gives an advantage to the wrong players.
The build in inflation in #Bitcoin rewards the working class (the miners).
True or false?
Discussion
How easy is it to mine? Can most any proletariat do it? I’m new to this area of bitcoin.
Theoretically everyone can do it. You just have to invest time and money first.
Realistically, it is difficult and expensive to mine BTC now. It requires pricey hardware (ASICs) and a lot of power.
Individuals can still buy consumer level ASICs join mining pools but it's a high bar outside the grasp of most working class people.
They'd be better served earning sats in other ways if they don't have disposable income for expensive hardware and power bills.
Industrial Bitcoin mining is a highly competitive business. You need to have an access to cheap electricity and cheap credit.
It's much easier to do what you're good at and convert your fiat proceeds into sats⚡
I will have to look into it. I get subsidized electricity from the government so who knows 😂 maybe it’s in my future
I get where you're coming from but mining rewards aren't inflation. As you know, Bitcoin has a fixed supply of 21 million. This factor is already priced into the value of BTC. It is a fixed supply asset, and if the supply can never increase beyond 21 million, it can never inflate.
that's the build in inflation, it gets less every 4 years. after the last Bitcoin has been mined the inflation stops.
How would you call it if not inflation?
Inflation means a decrease in spending power. This doesn't happen as a result of new Bitcoin being mined.
New Bitcoin enters circulation, less and less each halving as you said, but the total amount of 21 million is priced into the value of BTC.
The fixed supply is why it isn't inflationary.