No. There's a reason Central banks/Keynes like low inflation cause it chugs the economy along. Deflation and hyperinflation are self-reinforcing problems, which require intervention. Not 100% sold, but one cant be sure. Crypto might be pretty bad. What I do know is it's coming
You won’t spend BTC before 15T. Afterwards you’d spend, because 1) not as much growth left so u won’t be like the Pizza guy, and 2) people will DEMAND to be paid in BTC for their work / services / products.
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Growth would come from deflation. Everything else will keep getting cheaper cause there is more stuff in the world and the same BTC. So if you want to buy a car today, it wouldn't make sense of it's like 5% off in 6months
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Actually cars depreciate on their own so not a great example. But you get the point
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In that world BTC would appreciate 2% per year, you’d still use it to buy stuff.
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Yeah, those rates seem okay to me too. Intuitively, feels like lmt or small supply is fine, and historically gold probably (who knows?) worked out okay. Lsing ctrl on intervention is a risk, but could have great rewards. If adoption happens we'll need to deal with it either way
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The big question is - do we need central banks at all?
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Yeah, and that's a tough one for sure. Economics has arguements on both sides, but we have a (somewhat) working product in CB lead currencies, which all countries adopted. Remains to be seen what'll happen if we can't use monetary tools anymore
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CBs will be replaced by markets + algorithms.
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We've had quite the conversation. Have to say, it was a pleasure.
End of conversation
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