2/ When Bitcoin does become the world’s primary currency, its market cap will stabilize & fluctuate much less wildly. Any increase in the currency value at that point will be due more to the increase in general level of production / total number of available goods & services…
-
-
Show this thread
-
3/ …and less due to the people’s buying in to the vision of Bitcoin. The market of people who could be convinced of BTC would have already been saturated. The ideological conviction that’s required to bootstrap BTC will matter less at that point.https://twitter.com/hugohanoi/status/1021133723423584256 …
Show this thread -
4/ As long as GDP keeps increasing, your bitcoins will also increase in purchasing power - since BTC supply is fixed & there're more goods going around. This happens even when you sleep or when you stop working.
Show this thread -
5/ Investing in a currency is unlike investing in a stock because stocks represent productive assets, and any potential rise in stock value can be attributed back to your initial investment. You are not free riding.
Show this thread -
6/ Whereas if you invest in a currency & it gains in purchasing power, that is through the collective effort of society, not your own. Check out this good article from
@BMBernstein that stresses the crucial difference between equity & money:https://twitter.com/BMBernstein/status/1021065633285500929 …Show this thread -
7/ Not all Bitcoin hoarders will be free riders of cos, but many will be. There’s a personal level of contribution that makes you a free rider or not.
Show this thread -
8/ A much simplified example: you own 1% of all BTC supply, and the economy grew by 10%. If you contributed less than 1% of that 10% growth, you are a free rider.
Show this thread -
9/ The more you hoard & the less you contribute back *relative to the amount you hoard*, the more of a free rider you become.
Show this thread -
10/ To clarify: I do think a shift towards saving mentality is a huge improvement over the blind consumption-for-consumptions-sake cycle we have now. But *saving alone* won’t be enough for a prosperous society. And IMO it’s important to be aware of its shortcomings.
Show this thread -
-
12/ Sliding scale not binaryhttps://twitter.com/hugohanoi/status/1021921656913068032 …
Show this thread -
Does this make any sense at all or am I crazy?
@real_vijay@nic__carter@TuurDemeester@BMBernsteinShow this thread
End of conversation
New conversation -
-
-
Yes your logic is flawed. Let me know if any other questions. Would be happy to assist!
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
Not sure why this topic deserve so many discussions. First there is no such thing as "free riders" on this network the points brought up still don't explain that. And at the end of the day, it really doesn't matter. Our societies have always had monetary "free riders".
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
-
-
If you are holding, aren't you contributing to the increase in price allowing others who only have a small portion of a BtiCoin the benefit of future increases in value?
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.

Money is not equity, period.
When you park capital in a non-productive asset, it is OUT of the system completely. Decommissioned.
The non-productive asset value can only rise if it piggybacks on the success of productive assets.