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There is no way in hell people can ever convince me inflation is a good thing. I believe this sentence. The big problem with Bitcoin's finite money supply is
by danielweber 14y ago
There is no way in hell people can ever convince me inflation is a good thing.
I believe this sentence.
The big problem with Bitcoin's finite money supply is that it encourages people to sit out. If there are 1000 people and someone has WLOG 1/1000th of the wealth, if they sit things out and come back 100 years later, there's no reason to think they should still have 1/1000th of the society's wealth at that point. More people were born, more resources were mined, more buildings were built, more technologies were developed -- and that person had nothing to do with it. I can see why he would wish he could still claim 1/1000th of society's wealth, but what's the incentive for all the other people to agree to this? The hope that they can be the ones to sit things out and freeride next time?