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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Replying to @MatGroennebaek @MustStopMurad and
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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Replying to @MatGroennebaek @MustStopMurad and
...and I think we all know where that would lead to.
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Replying to @MatGroennebaek @MustStopMurad and
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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But unchangeably fixed-supply is what makes it a good SoV... Price would drop a lot if you start inflating!
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I don't think it makes it a good SoV, it makes it an investment/speculative asset, which is where the volatility comes from. A store of value is optimally always worth the same purchasing power.
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I agree with your view. But just to play devil’s advocate: Don’t you think Bitcoin has capacity to become a global SoV? A Digital Neo-Gold? Gold is 15% vol per year and has been a SoV for millenia
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Everything is possible, can only say I think it is unlikely.
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