Winklevii: the problem with the dollar is its price isn't predictable like the price of Bitcoin is:http://www.businessinsider.com/bitcoin-state-currencies-us-dollar-2013-12 …
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@bascule when the USD has had 6000% yearly deflation, we can compare apples -
@stevedekorte I think the fact this isn't an apples to apples comparison is the point. 6000% deflation benefits hoarders not spenders -
@bascule You use those terms as if they are asymmetric, but every "spender" is a "hoarder" of whatever asset they buy. -
@bascule More to the point, prices are a product of demand and supply flow, so "hoarding" doesn't reduce the amount of usable resources. -
@stevedekorte there's tons of people with vast Bitcoin reserves who aren't selling because they're speculating about even higher prices -
@bascule Right, and that doesn't prevent any resources or labor from being used as prices adjust for demand/flow. -
@stevedekorte my point/OP's point is Bitcoin has a lot of "adjustments" in its future before the price can be considered close to stable -
@bascule yeah, I agree.
End of conversation
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