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That was my opinion in the beginning, but I'm not convinced anymore. First of all, the bitcoin billionaires have a strong incentive to spend, because if they do
by joelthelion 14y ago
That was my opinion in the beginning, but I'm not convinced anymore. First of all, the bitcoin billionaires have a strong incentive to spend, because if they don't, the currency will crash and they will lose their money.
Second, if you were to create "inflatacoin", with a small but real inflation rate, who would adopt it? It would probably be better economically speaking, but people prefer putting their money in things that stay stable or grow over time.
- Jabbles 14y agoIf people are spending their money in fear of a crash then hoarding is not bitcoin's main problem. I don't know the solution to bitcoin's deflation, but IMO it's still a problem.