Director’s Cut: The Deleted Economics Discussions
Deleted Scene from Chapter 1:
Replaces from: Jerry whispered back, “True but not relevant. I’ll explain later.”
Jerry whispered, “Right. When there’s inflation, they just hold the amount of currency constant and the smart contracting system embedded in the blockchain auctions off zero-coupon bonds, kinda like American Treasuries. The auction prices carry an interest rate that’s higher than inflation to temporarily remove currency from circulation. When things work really well—not necessary but nice when it happens—the deflation that follows the inflation starts as these bonds expire and return their currency, so less currency needs to be created.”
Micky nodded as if he understood, which he sorta did.
Erika had moved on. “The difficulty
