Just like gold, a medium of exchange is need to be produced by labor, and the value of it should be based on demand
This means, when goods/services are abundant, the gold become expensive, make the gold mining profitable, so that lot's of people will mine gold; when lot's of people are mining gold, the goods/services will become expensive, people will move from gold production into goods/services production
In this way you will always have 100% employment
So, in a modern society where higher and higher productivity is reached through automation and AI, more and more people will only need to mine bitcoin to make a living. But if too many people are going for bitcoin mining, then the labor force reduced and the other goods/services will become scarce, bitcoin price will fall
But this does not solve the problem of higher productivity people also mine the coin when they work. To be fair, coin mining should be a full time job which need constant time input, this is currently a drawback of bitcoin
This is true,
BUT other coins popping up, and already existing can help with that. EX: my plans aren't even primarily with BTC, I see great promise in DVC.
