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Well obviously if you fix the price of Bitcoin at a certain point in time, later on it's gonna be a lot more expensive, especially if someone throws 5B at it.
by jafaku 13y ago
Well obviously if you fix the price of Bitcoin at a certain point in time, later on it's gonna be a lot more expensive, especially if someone throws 5B at it.
Besides you are trying to find an edge case to argue about common cases, which is stupid and lame.
- logicallee 13y agoNo, I'm showing you how the laws of economics work by appealing to your intuition. The part you quoted before ("This is discouraging transactions because (if you believe in the currency and its future) you should hoard your BTC. The amount of new BTC going into circulation is low, barring any disaster (e.g. Germany banning BTC, Kraken hacked), it just makes sense to hold because what you have today will be worth more tomorrow.") is totally completely uncontroversial - and this is super easy to show, not only just in historical terms or by looking at how people actually behave, but if you simply think it through yourself. It's just obvious and uncontroversial.