4/ "Unemployment tends to rise as a result. If employed workers hoard cash in expectation of further price reductions, the downturn gathers momentum."http://archive.is/1vU3Q
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Replying to @cryptow1re @panekkkk and
1/ "BTC is inherently deflationary. There is an upper limit on the number of bitcoins that can ever be created. This means the cost of generating new Bitcoins rises over time, so that the value of Bitcoins rise relative to the available goods and services in the market."
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Replying to @cryptow1re @panekkkk and
2/ "Less money chasing stuff; less cash for everybody to spend (as the supply of stuff out-grows the supply of money)." - http://www.antipope.org/charlie/blog-static/2013/12/why-i-want-bitcoin-to-die-in-a.html …
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Replying to @cryptow1re @panekkkk and
3/ "The future of Bitcoin's fixed supply is fractional reserve banking, since only re-lending existing coin, or lending on the basis that settlement can one day be made in Bitcoin — a la conventional banking practice — can overcome the lack of supply"https://ftalphaville.ft.com/2013/04/03/1425292/the-problem-with-bitcoin/ …
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Replying to @cryptow1re @panekkkk and
1/ "While Bitcoin has managed to bootstrap itself, it lacks any mechanism for dealing with fluctuations in demand. Increasing demand for Bitcoin will cause prices in terms of Bitcoin to drop (deflation), while decreasing demand will cause them to rise (inflation)."
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Replying to @cryptow1re @panekkkk and
2/ "What happens in each of these cases? Let’s start with deflation, because right now demand for Bitcoin is on the rise. What do people do when they think something’s value will be higher tomorrow than it is today? Well, they acquire and hold on to it!"
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Replying to @cryptow1re @panekkkk and
3/ "Who wants to give up money that’s constantly rising in value? In other words, rising demand causes demand to rise further. Irrational exuberance at its finest. Deflation begets deflation, ad infinitum, or at least until something breaks."http://undergroundeconomist.com/post/1528511369
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this is laughable stuff. if people demand BTC for their goods and services, you will spend it whether you like it or not. the idea that deflation is disastrous is government propaganda to convince you that money needs to be under their centralized monopoly control
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Replying to @MustStopMurad @cryptow1re and
gold was consistently slowly rising in value and yet people spent it anyways
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When was the last time gold was used as a primary MoE? What year? What country? Gold history:https://in.reuters.com/article/idINIndia-52748720101108?pageNumber=1 …
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1970
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