I don't believe there is anything that will change either of our minds. Do you agree? I think I will be able to understand your viewpoint better if I read "The Ethics of Money Production." /end
I respectfully disagree. Why would anyone in their right mind choose an inflationary coin over a fixed supply coin? Fixed-supply is Sound Money. Picking an inflationary coin goes against everyone’s *individual* self-interests. Market would never choose it *naturally*.
-
-
That's a Great point. It would come down to scalability & ease-of-use. Scalability: Fiat money backed/not backed by Gold always made it faster to price & buy goods with. (compared to weighing gold on a scale) Ease-of-use: Fiat currencies are always easier to carry in our pocket.
-
So the 'Scalability' &' Ease-of-Use' Properties of Fiat over Gold were enough of a 'positive' to outweigh the negatives of 'trusting politicians to not devalue the fiat *too much*'. And that has worked.
-
So what is that 'Scalability' & 'Ease-of-Use' for BTC? Scalability: L2 Token backed 1:1 with BTC that allows 0.5s Instant Confirmation payments. Ease-of-Use: L2 Token lives on Digital eWallet with your BTC. At the expense of: easy access to loans/credit for personal or business
-
What is the 'Scalability' & 'Ease-of-Use' for Programmed Inflationary Digital Fiat? Scalability: 0.5s Instant Confirmation payments. Ease-of-Use: Lives on Digital eWallet with your BTC. At the expense of: dealing with inflation (loss of Purchase Power)
-
SO, since the 'Scalability' and 'Ease-of-Use' values for our 2 options (BTC or Programmed Inflationary Digital Fiat) are the same, the only differentiator is:
-
Does the market want 'easier access to personal/business loans/credit' or does the market want to 'not deal with programmed inflation (which they can trust because it's programmed), and subsequent loss of Purchasing Power'?
-
In the Gold vs. Fiat case it's easy to pick the 'Scalability' & 'Ease-of-Use' winner because both of those values were higher for Fiat.
-
In our case of BTC vs. Programmed Inflationary Digital Fiat, 'Scalability' & 'Ease-of-Use' are exactly equal, so we have to then look at "which property is the market more willing to part with" in order to determine our winner.
- 4 more replies
New conversation -
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.