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You're making a subjective and emotional argument ("a scrooge") when it's well-established across societies that deflationary currencies have this effect (of di
by michaelochurch 14y ago
You're making a subjective and emotional argument ("a scrooge") when it's well-established across societies that deflationary currencies have this effect (of discouraging spending and investment). Bitcoin, with its very tight supply, is inherently deflationary-- so long as it continues to gain traction.
- kiba 14y agoA scrooge is someone who is reluctant to spend money. There's nothing emotional about it. I also happens to disagree with the idea of deflation being necessarily bad for society or actually discouraging spending and investment. I contend it that it only shift the timeframe longer into the future, and saving enabling people to buy higher quality lasting goods. With inflation, it encourages short term thinking and shorter term investment.