3 ms·

Serious question: Bitcoin being subject to deflation, why would you spend it? Sort of like the $82 million pizzas [1] 1. https://qz.com/1285209/bitcoin-pizza-d

• cyphertruck 6y ago
  Bitcoin is inflating, and will for 130 more years, though it is seeing increased adoption and is riding in price. But in answer to your question,I’m glad you picked food fir your example— would you starve to hold onto your bitcoin? Is your computer ten years old because next year better ones will come out? Or did you bite the bullet and upgrade because your time preference made it worthwhile? It is true, deflation encourages savings, but that is the essence of capitalism, savings keeps people better able to avoid poverty in the event of a bad year, and capital accumulation makes you more able to do a startup and retain control. Part of the reason there is so much VC money is inflation (VCs get new dollars cheap and carry trade through startups)with a hard currency like bitcoin the fotmula would be reversed, and founders would retain more ownership.
• Kiro 6y ago
  That's $300 million today, which illustrates your point further.