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 …
The benefits however are not unconditional. It must work in tandem with other areas (production) to continue staying beneficial. Otherwise too much of it and it alone *can* (not always) devolve into free riding.
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Can’t compare a currency to GOOG stock because when you park your capital in GOOG you are parking it a productive asset. Equity != money.
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If you view the world economy as an enterprise, then you may see the analogy, in which money is equity of the global economy. That's why your example of profiting from GDP growth works. And that's why if you don't think GOOG owners are free-riders, you shouldn't think so for BTC.
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When you park your capital in BTC, someone else takes the other side of the trade and does something with it, contributing to the world economy. In this sense, after BTC is established as the world reserve currency, investing in BTC is investing in the world economy.
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Money is really not equity of the global economy though
Money is not equity, period. When you park money in a non-productive asset, it is OUT of the system completely.
The non-productive asset value can only rise if it piggies back on the success of productive assets.
End of conversation
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