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I've always seen this as a weird argument. Most people live paycheck to paycheck and don't have the option to hold even if they wanted to. And those that have e
by spurgu 5y ago
I've always seen this as a weird argument. Most people live paycheck to paycheck and don't have the option to hold even if they wanted to. And those that have extra income will invest it in whatever gains them interest, with the explicit intent of not spending those funds in the short term. I don't see why crypto's deflationary properties would play any practical role at all. Well except that you could actually just hold your income (if you were paid in crypto) instead of having to go through the hassle of figuring out what to invest in.
Edit: But yeah, if only looking at those people who would refrain from investing in stocks and just hold crypto, then yeah, that would leave money out of circulation stimulating the economy. But just overall, for the normal person, it's a moot point.
- ashtonkem 5y agoYou know, this is actually a studied phenomenon. https://en.wikipedia.org/wiki/Deflation#Deflationary_spiral https://en.wikipedia.org/wiki/Deflation#Deflationary_spiral
- cyphertruck 5y agoThey live paycheck to paycheck because the central bank has enslaved them.
- ashtonkem 5y agoI always find this argument extremely weird. The era before the creation of the US Central bank wasn't exactly a worker's paradise, was it? The gilded age was an era so tough for workers that actual gun fights over labor issues were the norm, and the late 19th century saw repeated financial panics every decade or two.