There's giant a flaw in the authors assumptions. > The investors are all those who have bought or will buy bitcoins; they invest by buying bitcoins, and cash o

There's giant a flaw in the authors assumptions. > The investors are all those who have bought or will buy bitcoins; they invest by buying bitcoins, and cash out by selling them. Who says I want to 'cash out'? Why would I 'cash out' of the hardest money man has ever conceived for one of the easiest monies man has ever conceived? What the author does not get, is people are buying bitcoin not to 'make fiat gainz', but to protect their savings from debasement. They don't need to convince anyone that they will 'profit'. People only need convincing that their purchasing power will not be decreased due to the policy of the easy money creators. When you adjust your unit of account to satoshis instead of dollars, you only profit if the number of satoshis on your balance sheet increases. This doesn't happen by 'selling bitcoin'. The idea that I would spend bitcoin on depreciating fiat is preposterous.