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But only if it's the sole/main currency. Otherwise it becomes like gold is today, only a bit easier to move money in/out of it. That's always been the main fl
by waterlesscloud 14y ago
But only if it's the sole/main currency. Otherwise it becomes like gold is today, only a bit easier to move money in/out of it. That's always been the main flaw in the "deflationary" theory, it depends on some absolutes that wouldn't exist in the real world.
- dragonwriter 14y ago> But only if it's the sole/main currency. Otherwise it becomes like gold is today, only a bit easier to move money in/out of it. That's always been the main flaw in the "deflationary" theory, it depends on some absolutes that wouldn't exist in the real world. The deflation argument is usually an argument against the proposal that Bitcoin ought to become a major currency and that it should displace traditional sovereign currencies. So, no, its not a problem with that argument that it relies on assumption of a dominant-currency role for Bitcoin. Its probably true that such a role won't ever happen, in no small part because there are enough people with enough economic power that understand the problem to prevent it from happening, but that doesn't make the argument is invalid as to why it shouldn't happen.