Economic FAQ - page 2. | Bitcointalksearch.org

Insti

sr. member

Activity: 294

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Firstbits: 1duzy

Quote from: FreeMoney on July 29, 2010, 06:18:10 PM

worrying that "Bitcoin is going to collapse because everyone is going to hold all their coins no matter what because they are absolutely guaranteed to increase in value." is ridiculous.

However it is still a frequently asked question.

Coming up with an answer that is better than "it's ridiculous" will probably be required. (unfortunately..)

Red

full member

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Fair enough! :-)

FreeMoney

legendary

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Strength in numbers

Woah, I didn't say hoarding was ridiculous. If you value your coins more than the highest offer of goods, services, or other currency, by all means you should keep them. But worrying that "Bitcoin is going to collapse because everyone is going to hold all their coins no matter what because they are absolutely guaranteed to increase in value." is ridiculous.

Red

full member

Activity: 210

Merit: 115

Quote from: FreeMoney on July 28, 2010, 07:03:22 PM

What happens if someone has 1,234,567 BTC and won't sell any at any price?

/sarcasm

But seriously, something on the ridiculousness of worrying about hording. And the absurdity of worrying that your coins are going to be worth too much. These are common worries because we all live in the world of "spend it all quick it's losing value".

Hoarding is worth discussing but by no means is it rediculous.

If you are living in a world with price inflation then a key thing to teach your children about is the magic of banking with compound interest. The last thing you want is a long term piggybank.

In a world with pre-planned monotonic price deflation, the equivalent magic is called hoarding.

FreeMoney

legendary

Activity: 1246

Merit: 1016

Strength in numbers

What happens if someone has 1,234,567 BTC and won't sell any at any price?

/sarcasm

But seriously, something on the ridiculousness of worrying about hording. And the absurdity of worrying that your coins are going to be worth too much. These are common worries because we all live in the world of "spend it all quick it's losing value".

Babylon

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CryptoTalk.Org - Get Paid for every Post!

The other questions I have seen being discussed here are

Is Bitcoin inflation proof

Are Bitcoins legal tender

kiba

legendary

Activity: 980

Merit: 1014

Guys...time to make a better economic FAQ.

This is the starting list...

Objections/Concerns

1. Does Bitcoins violate the Mises Regression Theorem?

https://bitcointalksearch.org/topic/bitcoin-does-not-violate-mises-regression-theorem-583 (If somebody wants to summarize it, that would be great.)

2. Is the bitcoin economy safe from inflation?

3. Are Bitcoin legal tender?(Do people really ask this?)

4. What if bitcoin economy is deflating and everybody is hoarding? Would that lead to a collapse?

Update 1: Added more questions. Feel free to provide answer.
update 2: Clarify questions.

Topic: Economic FAQ - page 2. (Read 11559 times)