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A comment on Bitcoin exchange rate reached $100 USD per BTC. Parent comment

Re:Bitcoin exchange rate reached $100 USD per BTC by teebs on Monday April 01, 2013 @02:29PM (#5474930)
What do you mean "higher quality"? Almost everything everyone buys is something they don't need. I would guess that almost everyone using Hacker News produces things people don't need. No one needs Google or Amazon or whatever your favorite tech company is.... The economy is built on things people don't need.

The problem is that if I won't buy it for $100 today because I can buy it for $50 tomorrow, I won't buy it for $50 tomorrow because I can buy it for $25 the next day, so you NEVER buy an iPhone

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Re:Bitcoin exchange rate reached $100 USD per BTC by aneth4 on Monday April 01, 2013 @03:04PM (#5475157)
Except I do buy an iPhone. Because I want one. Today.

Technology always gets cheaper rapidly. Lots of people seem to buy it.

A 4% annual deflation rate would stop unhealthy debt expansion, which only stimulates short term growth and long term pain.

Higher quality growth comes when real economic value is created through transactions rather than speculation or inefficient investment.

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Re:Bitcoin exchange rate reached $100 USD per BTC by Judson on Monday April 01, 2013 @02:39PM (#5475012)
I just have a hard time believing deflation leads to perfect demand inelasticity at $0.
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Re:Bitcoin exchange rate reached $100 USD per BTC by brc on Monday April 01, 2013 @10:18PM (#5477299)
Because it is completely unrealistic and total rubbish. That's why you have a hard time believing it.

Of course, all those who insist that inflation is a superior state can't explain the economic effects of everyone deciding to purchase today before the prices go up, leading to much weaker demand and production in the future.

Bringing forward spending excessively is just as problematic as send it backward into the future.

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