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> Money needs to have inflation or the incentive is to hoard rather than spend. Is saving "ok" according to your principles? If so, then when does something s

> Money needs to have inflation or the incentive is to hoard rather than spend. Is saving "ok" according to your principles? If so, then when does something stop being "saving" and become "hoarding"? > Why buy a Tesla today for a bitcoin if you can buy it for 0.6 bitcoins in an year or something? Because you value a Tesla more, I suppose? Have you considered that artificially driving people to spend has a great cost in terms of ecology? What if we repaired an old car instead of "being induced by the central bank to buy a new one"? Same about houses, have you ever considered that housing is just so expensive because it's safer than dollars in terms of purchasing power? It's not that the demand suddenly increases by 10% yoy, it's the measuring unit that's being devalued (and there is, indeed, speculation on the further devaluation of the currency) BTC will never be 100% payment, it's first of all "flight from devaluation". And since it's a free choice, it's much less morally problematic than "forced devaluation" (of other other people's money through central bank policy). It will have a commonly used payment layer but I agree were not there yet. And even then, countries will not give up their local currency, so you will have BTC as a digital alternative to Gold and "money stored outside the local currency system", with the added advantage that you can hide and transport it very well, even in unsafe spots.

epolanski 3y ago
No I think money is worthless, it holds no intrinsic value, so I find saving beyond small sums for specific goals a stupid goal. In the medium run (few years), some of the value of your savings is gonna be eroded by inflation. You're better off investing in various ways or just spend it. No rich person in this planet is rich because they have lots of cash. Most billionaires have very little amounts of it. All that gives money value is the fact that other people want it. It has a constant demand. Virtually nobody uses Bitcoins for payments, because it's model and self fulfilling prophecy is that price goes up as interest in the coin increases but the amount is stable (if not even decreases by burning or losing access to wallets). Everybody buys to see price go up further and sell. I've been in crypto a long time before in 2017 I just concluded it was all speculation and green with no real world use. You're free to do what you want with your money including speculating in Bitcoin, so far it has been a self fulfilling prophecy of more $ in the long run, I'm also free to see it as nothing else but greed. The very fact that more advanced crypto currencies get no traction even though they really solve Bitcoin pain points is a clear indication that nobody gives two damns about the technology or uses it.
- neglesaks 3y ago
  nothing holds intrinsic value. At the base of existence, all "true" value is utility value. Before cash and gold coins, people iron stakes and bronze kettles for currency, but even a bronze kettle is useless if you don't use it for cooking soup for your family and village, and instead use it for decorating your home.
- latchkey 3y ago
  > I've been in crypto a long time before in 2017 I just concluded it was all speculation and green with no real world use. Back then, you're right, it didn't have use cases. That said, the technology has advanced and the use cases do exist today. Decentralized finance is a giant one that continues to grow.

epolanski 3y ago

No I think money is worthless, it holds no intrinsic value, so I find saving beyond small sums for specific goals a stupid goal. In the medium run (few years), some of the value of your savings is gonna be eroded by inflation. You're better off investing in various ways or just spend it. No rich person in this planet is rich because they have lots of cash. Most billionaires have very little amounts of it. All that gives money value is the fact that other people want it. It has a constant demand. Virtually nobody uses Bitcoins for payments, because it's model and self fulfilling prophecy is that price goes up as interest in the coin increases but the amount is stable (if not even decreases by burning or losing access to wallets). Everybody buys to see price go up further and sell. I've been in crypto a long time before in 2017 I just concluded it was all speculation and green with no real world use. You're free to do what you want with your money including speculating in Bitcoin, so far it has been a self fulfilling prophecy of more $ in the long run, I'm also free to see it as nothing else but greed. The very fact that more advanced crypto currencies get no traction even though they really solve Bitcoin pain points is a clear indication that nobody gives two damns about the technology or uses it.

neglesaks 3y ago
nothing holds intrinsic value. At the base of existence, all "true" value is utility value. Before cash and gold coins, people iron stakes and bronze kettles for currency, but even a bronze kettle is useless if you don't use it for cooking soup for your family and village, and instead use it for decorating your home.
latchkey 3y ago
> I've been in crypto a long time before in 2017 I just concluded it was all speculation and green with no real world use. Back then, you're right, it didn't have use cases. That said, the technology has advanced and the use cases do exist today. Decentralized finance is a giant one that continues to grow.