credit won't be a means of arbing melting fiat value
Succinctly put and I think that's the main difference. There's less incentive to "save" in the modern sense (which is really just lending), because actually saving an appreciating currency more than preserves purchasing power.
That should mean that real interest rates (interest rate above inflation) might be higher on a bitcoin standard. However, nominal interest rates will likely be lower.
640 sats \ 1 reply \ @grayruby 5 Jan
I like the point about real and nominal interest rates. Makes sense.
reply
Good, because as I've said before, I'm not a macro guy. I always worry I'm going to get something backwards when I write about this stuff.
reply