Re:Joint Statement Regarding the Insolvency of Mt. Gox
by intelliot on Tuesday February 25, 2014 @03:49AM
(#7296397)
Nobody knows how many dollars are still in circulation. They have good guesses, but nobody knows about the millions in cash that was lost/burned/buried in the desert. It doesn't matter. Supply and demand doesn't rely on the total number of bitcoins in existence; only the number that are available on exchanges. And with blockchain analysis, we can have a very clear picture of bitcoin circulation - much better than with traditional currencies.
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Re:Joint Statement Regarding the Insolvency of Mt. Gox
by toyg on Tuesday February 25, 2014 @04:14AM
(#7296478)
With fiat money, this is not a problem, because that's only one of the available parameters to determine the relative value of a currency. Also, inflation constantly pushes fiat currency value towards zero, so your stashed 1970 dollars are now worth much less. Bitcoin, being deflationary in nature and not linked to anything, is a different ballgame.