The most frequently misunderstood difference between gold and Bitcoin is that BTC issuance is pre-determined and algorithmic, rather than miner-driven. While miners play a role, investors place value subjectively. Marginal cost of production matters much less.
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Even if it's purchasing power will appreciate at 2% per year, people will still spend it. Yes, consumerism might lower than today. But that can even be for the better. People still need to eat, sleep, drink. And they will likely invest in longer-term projects instead.
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I'd suggest you look into alternative schools of economic thought rather than the government-sponsored Keynesian drivel that they teach everywhere nowadays which is beneficial to the state as they desire a monopoly on the money supply. Free market = Fixed-supply money wins.
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Not to mention the fact that "expanding the money supply" is no different to THEFT!!!
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doesn't have to be controlled by the state you dope- my point is pre-programmed fixed supply doesn't work, period. BTC is expanding at 5%/year right now, why is that not theft?
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Because the inflation is decreasing with every block and going to converge to 0%. Who are you to tell whether it works or not? We have never had a fixed-supply asset before. Ever. You don't know whether it will work or not. This is unprecedented.
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the #1 value prop of Bitcoin is it's fixed supply. that's the biggest beauty of it.
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