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BTC is completely unsuitable to be used as a currency, since it's deflationary. Would you buy a car if waiting meant you could have it at half price? Of course
by dale_glass 5y ago
BTC is completely unsuitable to be used as a currency, since it's deflationary. Would you buy a car if waiting meant you could have it at half price? Of course not, that'd be stupid. So you'll sit on your hoard, while the economy implodes.
- eric_cc 5y agoHow sad would it be if Americans consumed less? Mindless consumption is the whole point of living!
- harambae 5y ago>Would you buy a car if waiting meant you could have it at half price? Apparently yes, a bunch of people are buying cars now at temporarily inflated prices when prices are expected to tank https://autos.yahoo.com/analysts-warn-possible-used-car-151000491.html https://autos.yahoo.com/analysts-warn-possible-used-car-1510...
- dwg465 5y agoIt's not deflationary though.
- smaryjerry 5y agoHowever, if everything else is inflationary then simply not inflating would be deflationary on a relative scale. It is a near zero chance that countries don’t keep inflation strong.
- dale_glass 5y agoIt is, by design. If you mean to say it's not deflationary because there's a limited amount of it that doesn't technically decrease, that doesn't help. First, Bitcoin does lose coins over time. When wallet keys are lost, or "dust" happens, that means that money can't ever be spent again. This is independent of the USD value. Second, the economy can grow. Eg, if the population grows, or a factory starts producing more goods, then there's now more stuff per unit of currency. That's still deflation.
- knocte 5y ago>Would you buy a car if waiting meant you could have it at half price? That's exactly what happens with computers and, last I heard, computers are still being purchased.