6 ms·
tl;dr When infrasructure of electronic fund transfer becomes unavailable/illiquid, the velocity is M2, unsterstandably, plummets. Correspondingly, the velocity
by zhte415 8y ago
tl;dr When infrasructure of electronic fund transfer becomes unavailable/illiquid, the velocity is M2, unsterstandably, plummets. Correspondingly, the velocity of M0 shoots through the roof like a rocket on the way to Pluto. In the meantime, CPI goes crazy and because of limited M0 barter becomes the main form of transaction.
And in this type of event, there probably isn't a local bitcoin chugger able to mine u a coin or verify a transaction.