pull down to refresh
281 sats \ 0 replies \ @denlillaapan 12 Mar \ on: Why Bitcoin Will Not Replace The Dollar econ
These are old, boring, and outdated objections:
TL;DR: the constraints of the stomach.
Analogy: Plus, do you therefore not own a computer or a smartphone or a TV, knowing that they have gotten cheaper (at least in real terms) over the last 40 years?
Serious answer: businesses care about the margin between input costs and retail price -- not retail price at time t and retail price at t-1 or t+2.
If goods prices fall by 1% a year, and the business can optimize its facilities and production so that average cost is 1.5% lower a year, that's a thriving business in a deflationary world. What's the problem?