Earlier risk is a fixed number, so if the reward is fair, it should not continue forever, and any extra increase in future purchasing power, past the point of hyperbitcoinization, must come from free riding.
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What do you mean by compound? You don’t earn interest nor receive dividend by holding. You just have increased purchasing power.
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I don't mean compounding in the financial sense, but in "real-life" sense. You know, like how your chance of success increases 10-fold if you went to Harvard (even though it might not be fair), or just by being born in the United States.
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Saving more does not increase one's ability to save. If I have .1 BTC left after expenses each month, that's all I can save. It doesn't matter if I have 100 BTC or 0.5 BTC saved
End of conversation
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Remember, at every step they have the opportunity to sell and do something with the $, so there is opportunity cost at every step. Someome who holds for 10 years didn't just risk something once and get an outsized gain. He faced a new opp-cost every day that he didn't sell.
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Inflation *is* theft!
Make no mistake, Bitcoin/sound money will be an improvement over the status quo, I'm not questioning that.