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Bitcoin is a modern day example of what happens when you have a currency that has deflation instead of inflation at it's core. It becomes actually more expensi
by raiyu 6y ago
Bitcoin is a modern day example of what happens when you have a currency that has deflation instead of inflation at it's core.
It becomes actually more expensive to buy anything in the present, as a result, consumers stop purchasing, and as a result economic activity decreases.
DigitalGold is also non-sensical, because that is simply designed to track against inflation, to prevent the loss of today's buying power tomorrow because of inflation. But when something appreciates 10,000x it's not really a hedge against inflation anymore, but a different speculative instrument entirely.
- BTCOG 6y ago@ArcticBull - Why would I ever want to make 100% ROI on a rigged stock market when I've made thousands of % in hard money?
- arcticbull 6y agosee, with those glasses on it's not possible to have a real meaningful conversation. I'm sorry, bitcoin is in no way 'hard money'.
- imtringued 6y agoThe irony behind bubbles is that you cannot profit off of them by acting rationally. If everyone participating in the bubble were acting 100% rationally, the bubble wouldn't exist in the first place.
- fennecfoxen 6y agoOpinion: NYSE:GLD and NYSE:IAU are better at being "digital gold" than a blockchain thing ever will be.