Well I think I may have said it before but I think that BTC won't be the actual currency used in daily life. The deflationary aspects just doesn't make sense to me as a good way to incentivize a bustling economy. Until that aspect is solved, I don't really think using it there is good enough. As a alternative form of payment, I do think BTC might work but I just don't think it can be the main form.
Posted Using LeoFinance Beta
Lol do you really think the CAGR can be 100% a year forever? No as it absorbs more monetary energy the CAGR will continue to drop until it’s well below the 1-2% mark!
When it takes trillions to move the price and if we do get there you think anyone’s going to be measuring in USD? Lol
This isn’t going to happen overnight why does everyone think you build a bee economy with a flick of a switch lll
Well yes anything is possible so long as there is enough time. At least for me, I think energy costs will just continue to drop over time. So yes you would be able to use the wasted energy as an argument but I don't exactly see how it would really be able to outpace the deflationary aspect of technology.
Posted Using LeoFinance Beta
You do realize you’re making the exact same argument for fiat, fiat inflates at different rates around the world and people still use it
The thing With a deflationary currency you make a decision is the saving return I’ll get for the year worth more than what I want to buy! You only have so much time on the planet and so you will have to spend
It took me a while to get my head around it but once it did it all started to make sense
My issue is mainly that deflationary currencies only incentivizes savings. It does not work well in my opinion about running a solid economy. An economy obviously requires people to be spending otherwise there it won't work very well. For me, I would say the deflationary aspects do make it a good store of wealth.
In the end our economy functions more based on jobs and wages. The way jobs and wages happen in the future might be different but I do expect there has to some way to show the jobs. If people are unwilling to spend, then economic development will be stifled. If that is the case, then I don't really consider it a good hub for activity.
Posted Using LeoFinance Beta
Why is saving such a bad thing? I don’t understand why saving money and only parting with it when it’s worthwhile isn’t better than the mindless Consumerism under a inflation standard.
That’s a fallacy that the economy requires spending, in fact in a deflationary economy people only pursue tasks that the economy actually needs
This idea that everyone is just going to sit around and save themsleves into starvation is just dumb
There is nothing wrong with saving but I think this stifles technological development. In fact I think with technology, the costs of foods, transportation and energy will drop. Also automation is coming for a lot of things and will probably take over most of what the economy needs.
Also the idea of what an economy needs is a vague question. Does this mean art will be thrown by the wayside since it would be worthless? I guess entertainment would also be thrown away if people just want their basic needs satisfied. I don't expect anyone to just starve but I am just stating my opinion that the deflationary aspect just doesn't seem to push technology forward as much.
Posted Using LeoFinance Beta