Re: [freenet-dev] Freenet now supports donations in bitcoin

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On Wednesday 23 Feb 2011 19:00:53 DJ Amireh wrote:
> If you're actually worried about this though, you can convert the bitcoins
> to a "real" currency as soon as you receive them.=20

Yes, we don't plan to hold on to them long term. Because of the risk of inf=
lation, not deflation, specifically the risk of speculative bubbles and wil=
d price swings - although the price so far has actually been a fairly consi=
stent rise, see the graphs (currently on a downward trend but too early to =
tell where it will level).

> Anyway, this isn't really
> unique to bitcoins as most currency is going to deflate eventually..

I was under the impression that central banks, governments and the like tak=
e strenuous measures to prevent deflation (as well as to prevent high infla=
tion).

My objection is more that there might be pressure to change the rules, and =
that if people had debts denominated in BTC it would be bad (it could be fa=
ctored in to a degree in predetermined interest but it would mean when they=
 economy grows your debts grow with it).

> On Feb 23, 2011 11:12 AM, "Markus" <[email protected]> wrote:
> > Am 23.02.2011 03:16, schrieb Matthew Toseland:
> >> See our web interface, or send BTC to:
> >> 1966U1pjj15tLxPXZ19U48c99EJDkdXeqb
> >>
> >> I have signed this message so you can hopefully trust the value above.
> >>
> >> Bitcoin is a distributed digital cash system. I will blog about this
> shortly, it's a fascinating system which has a number of issues.
> >>
> >> One interesting property is that bitcoin is transparent: You can see w=
hat
> comes in to it:
> >> http://blockexplorer.com/address/1966U1pjj15tLxPXZ19U48c99EJDkdXeqb
> >>
> >> Obviously this is anti-anonymity! Bitcoin is not anonymous as-is but c=
an
> be used in ways that are somewhat anonymous and it is likely that systems
> will be built on top of it that have strong anonymity. It can be accessed
> through Tor and there are people working on a Freenet transport.
> >>
> >> It's not an especially efficient way to give us money at the moment
> however. If you have a large or regular donation we can arrange a bank wi=
re.
> Paypal and google aren't especially efficient but are more so than bitcoi=
n,
> at least in small quantity.
> >>
> >> Also it is deflationary. I expect eventually there will declines, so we
> expect to avoid holding onto BTC long-term, although there is an argument=
 to
> hold on until we have a moderate amount because withdrawing funds is
> significantly more efficient and safer in largish quantities (e.g. >$800).
> >>
> > Bitcoin is deflationary. The number of bitcoins, donated to the
> > freenet-projekt, will decline in future because of the
> > bitcoin-deflation. But because of the deflation, the small amount of
> > donated bitcoins are the same value in dollar or euro as it was before
> > the decline of nominal donations.
> >
> > I think the bitcoin way of deflation is a good deflation. But i will not
> > explain that because english is not my native language...

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