[Cryptography] Cryptocurrency Exchange without a trusted third party (Ron Garret

Ron Garret ron at flownet.com
Sun Jan 15 17:41:01 EST 2017


On Jan 15, 2017, at 2:32 PM, Dominik Zynis <dz at ioresources.com> wrote:

> The presence or absence of inflation is not simply a policy decision.  If that were the case the Fed wouldn't spend so much time meeting and discussing it. And the BLS wouldn't spend so much money collecting data.

You misunderstood my claim.  I did not mean that the rate of inflation itself is a policy decision.  I meant that the choice of *process* by which the rate of inflation is decided is a policy decision.  Bitcoin’s policy is an algorithm.  The USD’s policy is that the board of the Fed decides.  Either of these could be changed if enough people decide it should be changed.

rg



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