Crypto Analyst Presents Data To Prove That XRP Is Deflationary
In the past, many have argued whether or not the XRP token was deflationary or not. In support of the former, pro-XRP crypto analyst Panos Mekras has provided data that suggests that the token has deflationary characteristics. Number Of Tokens Burned So Far In a tweet shared on his X (formerly Twitter) platform, Mekras referenced another tweet showing that over 11 million tokens had been burned. This stat undoubtedly suggests that the token is deflationary since its total supply has decreased over time due to the burn mechanism. Related Reading: 39-Month Cycle Says XRP Price Is Poised For....
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There have been multiple mentions of bitcoin ending up in a deflationary spiral on the long run. At a bird's eye view for a layman, it sounds true. However, if one takes some time to study bitcoin and understand it in details, it will become obvious that the digital currency is quite different from conventional fiat currencies, and the deflationary spiral that seems perfectly applicable to fiat currency at certain circumstances doesn't apply to its digital counterpart. For those who do not know about deflationary spiral, it is an economic concept which states that continued deflationary....
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A print from 1845 shows cowrie shells being used for money. It seems every day we hear the Bitcoin deflationary argument, not only from publications such as Business Week, but even from proponents of Bitcoin. Let's state it clearly: The Deflationary Bitcoin Argument: Bitcoin is not inflationary because the supply is limited to 21 million coins. Therefore, people want to hold it and won't spend. When no one spends this reduces the demand for products and services. This ultimately harms the productivity of the economy leading to a worsening of economic conditions. Therefore, Bitcoin is bad,....