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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 adventured on Monday April 01, 2013 @03:04PM (#5475159)
Nope, by definition deflation occurs when the authority controlling the money supply (eg the Fed) contracts said money supply.

Prices going down is merely a symptom of deflation, but it is not deflation.

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Re:Bitcoin exchange rate reached $100 USD per BTC by Locke1689 on Monday April 01, 2013 @03:22PM (#5475271)
Only the Austrians use that definition and they're not a serious school of economics.
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Re:Bitcoin exchange rate reached $100 USD per BTC by fnordfnordfnord on Monday April 01, 2013 @04:07PM (#5475549)
"Austrians" are quite serious. Few people take them seriously.
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Re:Bitcoin exchange rate reached $100 USD per BTC by solistice on Tuesday April 02, 2013 @09:23PM (#5483546)
And python is not a serious language. Java is.
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Re:Bitcoin exchange rate reached $100 USD per BTC by millstone on Monday April 01, 2013 @04:36PM (#5475748)
Why is this definition good? I mean, why should I or anyone care about changes in the money supply, except in how they affect prices?
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Re:Bitcoin exchange rate reached $100 USD per BTC by Evbn on Monday April 01, 2013 @06:25PM (#5476331)
It separates (theoretically, as it can't be measured) the price change due to faith-in-currency from price change due to market forces on the products.

That is, the price of good may fluctuate as function of how much current labor you need to buy it, or as a function of how much of your past savings it will cost. The diference between those measurements is due to money supply (in part, for there are other complicating factors)

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