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Merge pull request #245 from Rfurse/patch-8

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Added verb "is" to sentence
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Will Binns 2017-03-01 10:15:23 -06:00 committed by GitHub
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@ -75,7 +75,7 @@ Bitcoin experts argue that deflation is not bad per se. Rather, deflation is ass
The positive aspect of deflation, of course, is that it is the opposite of inflation. Inflation causes a slow but inevitable debasement of currency, resulting in a form of hidden taxation that punishes savers in order to bail-out debtors (including the biggest debtors, governments themselves). Currencies under government control suffer from the moral hazard of easy debt issuance that can later be erased through debasement at the expense of savers. The positive aspect of deflation, of course, is that it is the opposite of inflation. Inflation causes a slow but inevitable debasement of currency, resulting in a form of hidden taxation that punishes savers in order to bail-out debtors (including the biggest debtors, governments themselves). Currencies under government control suffer from the moral hazard of easy debt issuance that can later be erased through debasement at the expense of savers.
It remains to be seen whether the deflationary aspect of the currency a problem when it is not driven by rapid economic retraction, or an advantage because the protection from inflation and debasement far outweighs the risks of deflation.(((range="endofrange", startref="ix_ch10-asciidoc3")))(((range="endofrange", startref="ix_ch10-asciidoc2"))) It remains to be seen whether the deflationary aspect of the currency is a problem when it is not driven by rapid economic retraction, or an advantage because the protection from inflation and debasement far outweighs the risks of deflation.(((range="endofrange", startref="ix_ch10-asciidoc3")))(((range="endofrange", startref="ix_ch10-asciidoc2")))
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=== Decentralized Consensus === Decentralized Consensus