https://m.youtube.com/watch?t=1235s&v=vbNMYfqTCkA … Don’t know if you guys seen this presentation by Jihan Wu yet. He thinks the future are Private Central Banks issuing stablecoins which will compete against one another and entire governments will outsource monetary-policy-as-a-service.
1) But what if State’s accept Bitcoin for tax? Wyoming already does etc. 2) If Bitcoin is used for accounting, do you think that enables lower volatility enough to be a good MoE/UoA?
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1: Doesn't mean Bitcoin is the accounting currency, which makes it unpredictable how much tax you need to pay. 2: When I say accounting currency I mean tax accounting.
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If governments start allowing you to choose your own accounting currency, then it would be possible I suppose. But volatility would still be a problem for demand, since your customers have to acquire BTC to pay you. Just moves the volatility a step away, doesn't resolve it.
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My primary concern is that if, hypothetically the world adopts Bitcoin as their money, at equilibrium, BTC purchasing power would grow at 3-4% per year... wouldn’t that decrease risk-taking / investments and risk a deflationary spiral?
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I think volatility will prevent that from happening, but yeah, if the world adopted a statically deflationary currency, it would probably lead to a contraction of credit supply. I think it would also lead to an immense social pressure to increase issuance though...
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...and I think we all know where that would lead to.
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Hint, it rhymes with Charred Pork. :D
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Cant figure out the rhyme
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Hard Fork :p
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