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That might seem like a bad thing if you're a government trying to boost consumer spending so you can keep the economy running. But from a consumer's perspectiv
by welshwelsh 2y ago
That might seem like a bad thing if you're a government trying to boost consumer spending so you can keep the economy running.
But from a consumer's perspective, deflation is a feature. I don't want to spend my money! I want to save it, and to be rewarded for saving it, so that by consuming less I can also work less.
Why would I hand over my Bitcoin for some bread? Because I'm hungry and need to eat. Otherwise yes, I'll save my money for later, no need for needless and wasteful spending.
- deleted 2y ago[deleted]
- lenerdenator 2y agoKeeping the economy running is what enables people to buy bread in the first place.
- npoc 2y agoBuying bread is the economy. If I have to hand over more and more value over time for the same amount of bread (that is easier and easier to manufacture each decade), then "the economy" isn't doing well. If I hold the scarcest money in the universe, then the bread will get get cheaper and cheaper to me over time. This is a great economy. I'm not going be sitting around in my riches starving because food will be cheaper next week :-D :-D