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BITCOIN suggests to seek their wiki FAQ page for more information about bitcoin where it defines “ stabilize ” to “ sticky economics ” which is based on what is a broad range of mere unqualified assumptions & LIES, which could not be any further away from being stable, so in other words bitCON has no means to solve inflation & deflation & nor will it.
To actually claim BitCONS have value as bitcoin suggests because they are useful & because they are scarce is not only admitting BitCON has unaccountable representation but likewise has a volumetric impropriety to begin with as any gold standard would or had in the past, * useful * does not qualify immutable representation nor does * scarcity * qualify stable whatsoever.
Scarcity of money today by imposed interest on a falsified debt is the very reason why we have a irreversible multiplication of artificial debt, so be assured as soon as bitcoin starts lending, ( SEE HERE WHERE BITCON HAS BEEN GIVEN THE GO AHEAD TO OPERATE AS A BANK ) they have just stepped into the bankers shoes of terminal exploitation. Actually they already have one shoe on because they are complying with banking regulation, which is the very reason why there is an exchange of bank money to acquire Bitcoins in the first place, thus any bitcoin value is not only wholly artificial but is logically a further misrepresentation derived from a former misrepresentation — originating from the banks purposed obfuscation of our promissory obligations we have to each other.
Contrary to those advocating bitcoin merely assuming it has no connection to banking whatsoever — the connection is not only to initially purchase bitcoin with bank money, SEE HERE & HERE , but bitcoin has to likewise conform with the current banking regulation , SEE HERE .
The idea of microeconomics or competing currencies within a nation fails at its core concept by not addressing the nation’s volume of circulation on a macro level first, & the very act of exchanging money & property with another currency subject to artificial manipulation such as today’s bank money opens up the door for one currency adversely affecting another – that may or may not otherwise have an adverse volumetric disposition.
Micro currencies competing within any nation is an epic fail of rudimentary logic & is stupid as stupid gets, simply because it fails to address how one currency & its represented property effects the volume of another currency & its represented property upon any exchange?.
In truth greed blinds most if not all people to the fact cryptocurencies are online gambling rackets much like online casinos. The only difference is you can spend your chips outside the casino at recommended retail outlets who likewise gamble at your choice of casino, & or alternatively you can simply cash your chips in at the casino & purchase whatever.
Now if the creators of bitCON think they have already addressed inflation & deflation using references from today’s LIE of economy “ sticky economics ”, more the fools who put their trust in these charlatans ignorantly believing bitCON is a economic or monetary solution.
Advocate / mentor, Co-founder, Co-director – Mathematically Perfected Economy™ (au)
(Published : June 30, 2017, last edit March 02, 2018)