4 ms·
1. Unjustified moral reference to "shameless hoarding". Where is the magical date when your property belongs to you for "too long" and you should give it to som
by oleganza 14y ago
1. Unjustified moral reference to "shameless hoarding". Where is the magical date when your property belongs to you for "too long" and you should give it to someone? And to whom exactly?
2. Why take credit for business if you can save your own earned money which appreciates over time and have 100% stake at your own project?
3. How deflationary spiral is supposed to happen? Will people be paralyzed and dead of hunger and thirst holding their precious coins? Or they will trade with each other to get stuff done?
- phillmv 14y agoProperty rights are a fiction invented and enforced by society. Therefore, it's not inappropriate for society to occasionally have opinions on how property should work. Some of the ways people handle their property is detrimental to society. If enough people do it, hoarding capital is one of them.
- oleganza 14y agoYou did not answer my questions regarding hoarding. If you don't have an answer, how are you so sure about moral character of "hoarding"?
- sirclueless 14y agoRe: 3. The deflationary spiral doesn't end in a whole bunch of people dying of hunger, exactly, it ends with them all starting their own subsistence farms rather than spending on food, and making their own clothing rather than buying pre-made. Basically it retards progress, sends people back into the dark ages where they have to fend for themselves. I can't imagine a country ever allowing that to happen, so you had better believe that they wouldn't allow something as deflationary as bitcoin to become the de-facto currency. When you need a loan, the banks will be giving you something other than bitcoins. So I don't worry too much about this particular dystopia, it will never come about.