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60 sats \ 1 reply \ @SpaceHodler 29 Feb freebie \ on: Convince me I am wrong about these bitcoin themes meta
Purchasing power of a currency is fundamental so to not consider it is a mistake.
Sure. If the purchasing power didn't matter and it was all about the tech, there would no point in stacking sats continually as there would be no difference between owning 1 BTC and owning 100k sats; you could use the tech all the same.
I would argue that this extreme deflation (or increase in purchasing power) of btc is one of its main barriers to ever becoming a currency.
I see a lot of people becoming hung up on the SoV vs currency dichotomy. It's a false dichotomy, coming from the fiat world, where it's either one or the other. Bitcoin is a new beast and only time will tell what it evolves into.
knowing I can make money by doing nothing means I would do nothing.
If everyone does nothing, bitcoin's purchasing power won't grow. It can only grow when the same supply chases an increasing amount of goods, i.e. when there is economic growth.
Holding BTC will allow you to share in the global economic growth, but there will always be people wanting to work, to outperform those doing nothing.
Check out this X space, Enterprise Bitcoin: The Financial Economy on a Bitcoin Standard They discuss what the economy may look like on a Bitcoin standard and they talk about this particular issue, among others, incl. lending.
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0 sats \ 0 replies \ @Voldemort OP 1 Mar
Thank you for the link!
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