Sepp elaborates on the elasticity requirement for a stable value of money. As a method, he suggests a relation to number of nodes. (Not adopted, it would have been imperfect at best.
Discussion
Russ Nelson adds minor detail on the technical matter of currency in circulation.
Here – for thread completeness only – an irrelevant advertising post of Rheingold project already a year later. (Read on though.)
I conclude my persisting of Satoshi’s announcement thread with a Robert Searle’s reference to LETS, a defective approach at credit money as Russ points out immediately.
This is highly relevant, as credit money is now (March 2025) a key topic if we want to get to a self-stabilising exchange value of bitcoin.
PS: That’s where Bitcredit Protocol comes in.
If you understand all this, please be invited to trial the alpha version of Bitcredit Core v0.2.
