he advocates a hard target for 5% spending which i don't see meshing well with Bitcoin's set supply. whats wrong with a fixed supply of money? prices will just decrease over time as the economy grows. there is nothing wrong with this.
Nothing wrong for savers but many people are notorious debtors. Especially those who can force others to spend (governments with deficits) so deflation is dreaded as it makes servicing debt much harder in real terms.
the main bullish argument for a fixed supply of money is that businesses and savers can count on their money retaining its value. i, being an inherent saver, would be more than willing to lend out my savings for additional return or even for investing in risk assets such as stock. with the exchange value of my money whipping all over the place under the current regime, i am LESS willing to speculate with my money b/c now i have to worry about exchange value along with speculative risk.
You are managing your assets in a sound way; you have savings. Unfortunately, majority of people aren't capable of such thing and most of their possessions are debt based. So politicians make propaganda that "inflation is essential".
the Bitcoin pessimists here will say that gov'ts will fight Bitcoin and establish their own server farms to destroy it. i say that the collective will of humanity will not reject a good idea like Bitcoin but will in fact over time embrace it.
Collective will of humanity, eh?
If there is a common "will" shared by all homo sapiens that is that of animals: to eat (preserve itself), to kill (reduce competition) and to copulate (propagate the specie). Popular culture reflects that very well indeed...
We yet have to do a herculean work first, to be able to claim that we have something resembling "the collective (intelligent) will".
