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It's not "cast as", it just is rapidly appreciating asset. But yeah, knowing that $100 in bitcoin today might be worth $150 in a year does deter buying non-ess
by kjksf 2y ago
It's not "cast as", it just is rapidly appreciating asset.
But yeah, knowing that $100 in bitcoin today might be worth $150 in a year does deter buying non-essential stuff. Why is that a bad thing?
Personally, It won't discourage me from buying a hamburger when I'm hungry, but maybe it would make me hold on to my iPhone for a year or 2 longer but you can do as you please and spend every cent you make.
- SketchySeaBeast 2y agoBecause it discourages spending. It would grind the economy to a halt to be used at any scale.
- desumeku 2y agoOnly until the dollar hits 0 in comparison. Then, it doesn't matter what a bitcoin is "worth", since it's all arbitrary at that point and it can be used as a pure economic unit devoid of any other context.
- SketchySeaBeast 2y agoIn that case the world economy is devastated and there's bigger fish to fry than digital tokens with no backed value.
- desumeku 2y agoYou should really read The Wealth of Nations before you talk about currencies needing "backed" or "intrinsic" value. It's not in the definition of money at all.
- SketchySeaBeast 2y agoNot the worst required reading I've gotten from a crypto bro.