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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Replying to @MustStopMurad @arjunblj
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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Replying to @ground_0_econ @arjunblj
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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If its not controlled by the STATE then who does the inflation go TO? If the expansions & contractions are preprogrammed, WHEN do you decide to expand or contract? How does this info reach the Blockchain? Have you solved oracles problem? When you contract how do you BURN coins?
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Replying to @MustStopMurad @arjunblj
You pre-program it so it proportionately matches
#transactions - right now BTC transactions have been essentially flat since Feb so no change. Jan to Feb transactions dropped significantly so maybe you remove some coins from the system and this could have supported price also.1 reply 0 retweets 0 likes
lol why should transactions volumes affect money supply?... that makes no sense
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and also, WHOSE coins are you going to “Delete”? People will be furious if you delete their coins!!!
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