Bitcoin reduces the number of coins mined overtime, and after a certain number of coins are mined they will stop being produced. That's almost the definition of deflationary.
Re:Against Overuse of the Gini Coefficient
by SuchAnonMuchWow on Friday July 30, 2021 @02:38AM
(#28005112)
No, that's inflation slowing down. But its still inflation, because new coins are being created.
Re:Against Overuse of the Gini Coefficient
by arcticbull on Friday July 30, 2021 @04:11AM
(#28005658)
You are correct the parent is not referring to deflation - just slowing inflation. However Bitcoin is strongly strongly deflationary because any random walk down the timeline leads to 100% of coins lost. Due to human error, act of God and chance. In its first 12 years, give or take 20% of all Bitcoins were lost in spite of, what, 80% of all coins being generated. Thats an annualized deflation rate of 2%.
Re:Against Overuse of the Gini Coefficient
by emodendroket on Friday July 30, 2021 @02:17PM
(#28010722)
The real value of one Bitcoin today (I.e., the dollars or goods one could exchange it for) is absurdly higher than before, so it deflationary as the term is usually used.
I don’t see why you think anyone is lording this over someone. The blog just addresses that the gini coefficient doesn’t fit well here. You can agree or disagree with that but you just seem to be hurling insults for whatever reason.