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RE: What is the inflation rate of Bitcoin? How does it compare with gold?

in #bitcoin6 years ago (edited)

This is a great commentary on some of the gold-bitcoin comparisons.

The most important difference is that the rate of creation of gold, (by mining), is driven by the economy, inflation rate, stock prices, and its own price. In other words, when the price of gold is higher than the cost of production, new mines open, and the amount of gold mined increases.

On the other hand the newly mined supply of bitcoin is hard programmed and can only go down. The bitcoin mining rate will never rise, even if the price goes to the moon.

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