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The bitcoin price won't stabilize until it's operation literally dictates demand. Once for all practical purposes everyday life is handled in satoshis, how doe
by alttab 13y ago
The bitcoin price won't stabilize until it's operation literally dictates demand.
Once for all practical purposes everyday life is handled in satoshis, how does an economy expand?
- eru 13y agoJust like gold standard economies expanded in the 19th century?
- alttab 13y agoHow was that? Not being snarky, I'm just wondering what you mean.
- eru 13y agoI'm not sure how to answer that question. An answer would either be horribly generic or extremely long (or both). I suggest you start reading some history books (or just start on Wikipedia). Basically, a full bitcoin economy is a bit like an economy on a gold standard. Not perfectly, since gold is still being mined, and the rate of mining depends on its price.
- alttab 13y agoOk im following you. Maybe the differentiator is the divisibility of coin vs gold, and transferability.