4 ms·

What, exactly, is the fundamental issue with that?

• wmf 12y ago
  Deflationary systems tend to have no credit (because it's more profitable to hold money than to lend it), which slows economic growth.
  • jessaustin 12y ago
    "Systems" are irrelevant to the discussion of crypto-currencies. No nation ever will have an economy based on BTC. The halfway argument (if a BTC-based economy would be bad, economies exposed to some BTC would be sort-of bad) doesn't work, either: the global economy has survived many other assets that appreciated in value.
    • dublinben 12y ago
      Bitcoin isn't supposed to be an asset though, it's meant to be used as a currency. Unless it's no longer a currency, and the bitcoiners have all changed their tune.
      • jessaustin 12y ago
        Stop trollin'. No one is that dumb.
  • hollerith 12y ago
    "No credit" is an exaggeration: gold and silver (and notes redeemable for gold and silver) were the standard currencies in Europe (and probably other place) for many centuries, during which time there was plenty of lending and borrowing going on. For most of that time, the total quantity of gold and silver in existence remained approximately constant.
    • greiskul 12y ago
      Was the gold and silver being mined negligible compared with the amount in circulation?
  • beaner 12y ago
    Everybody said the same thing about spending bitcoin in the first place, and look how true that is. (Not at all.)
• deleted 12y ago
  [deleted]