"The point is that by not building in an inflation, of say 2% per annum in the global supply of Bitcoin, you almost doom it as a currency, because people will start hoarding it, knowing that it’s going to be worth more next year than it is this yr" - @ 51mhttps://asiasociety.org/hong-kong/should-people-invest-bitcoin …
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Replying to @cryptow1re @panekkkk and
"A hard supply cap or built-in deflation is not an inherent strength for a would-be money. A money’s strength is in its ability to meet society’s needs."https://www.economist.com/blogs/freeexchange/2014/04/money …
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are you really quoting the notoriously Keynesian "the economist"?
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Replying to @MustStopMurad @cryptow1re and
absent governments to continuously print more, a free market would never converge around an inflationary coin. fixed supply would be the schelling point. picking an inflationary one is irrational.https://www.youtube.com/watch?v=WL9BHDEf0dI …
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It’s impossible to make such a strong statement. We really don’t know. The market may converge around a mildly inflationary currency if it’s a more widespread MOE. Nothing exists in a vacuum except for your theories.
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something volatile is NOT going to be widespread as an MoE. people prefer their day to day currency to be stable. That is why you need to saturate SoV+achieve lower volatility to get to MoE, or build a stablecoin. how is this not obvious stuff
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I have some ideas here, comes from our latest research.
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Chris let's say I fall in love with Storecoin as a SoV. I actually believe it will be a major SoV at go at least to 500B You launch at a $0.5B market cap valuation. Why would I spend Storecoin at all if I believe in it as a SoV before it has went up 1000x? Do you get the issue?:)
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Developers and Merchants will be saving 2.5% + $0.30 per transaction by accepting STORE. If you pay in STORE, they can discount your transaction by up to 2.49% and then pocket the rest. ;)
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But it's Holding (the longer the better) which is what makes currency accrue value. Spending doesn't make it accrue value, if anything, too much spending can hurt value accrual. And if believe it has potential for 1000x I'll hold on for dear life, not spend :)
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means of payment != medium of exchange value transfer != value storage :P value storage = price increases value transfer = not neccessarily price increases if velocity is high
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