Bitcoiners Embrace Deflationary Aspects Of Digital Currency
Since the 2008 banking collapse, global quantitative easing has led to fears about the possibility of inflation, and even hyperinflation, as politicians like Ron Paul and Rand Paul have seen the ranks of their supporters swell. Today 74% of the public supports an audit of the Federal Reserve.
Meanwhile, since their inception as a community in 2008, bitcoiners have championed the inherent deflationary aspects of bitcoin, the beloved digital currency.
There will only ever exist 21 million bitcoins after the last coin has been mined more than one hundred years in the future.
To celebrate Bitcoin Friday, a sale by all participating Bitcoin businesses which takes place on Black Friday, Zen Magnets and Bitcoin Store have decided to partner in order to take the deflationary aspects of the crypto-currency to new extremes.
The Zen Magnets Bitcoin Set, which will contain on average 0.015 bitcoin, is the first product of its kind to be backed by bitcoin.
As bitcoin rises, the value of the included bitcoin ‘rebate’ in the Zen Bitcoin Set increases as well. Another big point, is that for somebody who already has bitcoin, there is no reason to get the Zen Magnets Bitcoin Set, over the Zen Magnets Gift Set. They will be the exact same price ($40). Except the Bitcoin Set includes an average of 0.015BTC, and a 1% chance of including over .0728BTC (72.8mBTC). Zen Magnets LLC won't be offering any discounts on our magnets, except for this deal. Especially since Zen Magnets are projected to sell out this Holiday Season.
The Zen Bitcoin Set will be sold exclusively on Bitcoinstore.com. During the promotion, Zen Magnets will even get its own category at Bitcoinstore.com.
But, act fast.
You might want to secure your Zen Bitcoin Set as soon as possible, as, if Federal authorities have their way, the magnets could soon be illegal on the grounds of public safety. Instead of public safety, how about “due to the ingestion hazard posed to children.”
Zen Magnets hasn't been immune to the pressure faced industry wide.
Now facing an administrative complaint from the Consumer Product Safety Commission which states the company's products are a "serious safety hazard," bitcoiners might not be able to get their bitcoin-backed high-powered magnets in the near future.
What makes this particular case against Zen magnets special is that it is the first time the CPSC has targeted a company prior to record of injuries.
“I feel very strongly that the CPSC is doing ridiculous things,” says Shihan Qu, the 25-year-old owner of Zen Magnets.
"It is very apparent that the (attempted) ban is unpopular with consumers.”
But, for now, the Zen Bitcoin Set is a green light. All customers will have to do to get the bitcoins provided by Zen Magnets is follow a link and qr code to enter their wallet address.
They will then have access to bitcoins supplied by Zen Magnets, who would purchase all bitcoins at the current price. The only catch? Bitcoins must be claimed within two years.
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